US grain and oilseed futures jumped on Friday as the US Federal Reserve's announcement of a new round of stimulus measures triggered broad-based gains in commodity markets. However, advancing US crop harvests kept a lid on gains, particularly for soyabeans, as traders expect new supplies to hit the markets.
The soyabean harvest, which was 4 percent complete as of Sunday, is picking up speed and could be closer to 10 percent finished by the end of the weekend, said Don Roose, president of US Commodities. The corn harvest, which was 15 percent complete last Sunday, could be nearly 22 percent complete by Monday.
Soyabeans have pulled back 2.8 percent from a record high reached last week. November soyabeans on the Chicago Board of Trade were up 0.3 percent to $17.53 a bushel by 11:20 am Central time, while December corn rose 1.3 percent to $7.84 a bushel. CBOT December wheat jumped 2.7 percent to $9.26 a bushel.