Corn (ZCZ25) and soybean (ZSX25) futures bulls came out of hibernation last week, helped in part by the annual Pro Farmer Crop Tour results that showed diseases have cropped up in some regions of the Corn Belt as the growing season for corn and soybeans progresses.
December corn gained 6 cents a bushel last week, which is impressive given the early week losses. November soybean futures hit a two-month high on Friday and rose 15 1/2 cents for the week. September soybean meal (ZMU25) hit a nine-week high Friday and on the week rose $13.80 a ton. Soybean and bean oil (ZLZ25) markets closed at technically bullish weekly highs on Friday.
