COM - Soybeans rally to record close on strong demand onset of dry weather

U.S. soybean futures rose again on Thursday, hitting a record-high closing price and nearing an all-time intraday high, according to Dow Jones, as traders cited strong export demand for U.S. supplies and the onset of dry weather in the Corn Belt. Soybeans (S_1:COM) for July delivery settled +1.7% to $17.69 per bushel on the Chicago Board of Trade, a record-high closing price, after peaking at $17.84, the highest intraday price on a continuous basis for the most-active contract since September 2012, but still a bit shy of the all-time intraday high of $17.94 per bushel. "New crop soybean sales are off to a record pace and old crop continues to see strong sales, despite the high prices," Brian Hoops of Midwest Market Solutions told The Wall Street Journal. "We are selling more soybeans than the USDA has recognized in their balance sheets." The U.S. Department of Agriculture reported that sales

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Soybeans rally to record close on strong demand, onset of dry weather