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Soybean futures rose to a six-week high as grain-and-oilseed markets continued to rebound from a government supply report earlier this week.
The U.S. Department of Agriculture increased its forecasts for this year's domestic corn and soybean harvests on Tuesday, prompting a selloff in those markets on concerns about oversupply. But prices have since risen as traders bet that the worst news has come.
Most active soybean futures for November delivery rose 1.6% to $9.76 a bushel at the Chicago Board of Trade on Thursday.
CBOT December corn futures rose 0.8% to $3.54 1/4 a bushel. December wheat futures, meanwhile, closed 0.1% lower at $4.43 a bushel after trading higher for much of the session.
Dole Food Exploring a Sale
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Dole Food Co. is exploring a sale, months after filing to go public, said people familiar with the matter.
The first round of bids for the Westlake Village, Calif.-based fruit and vegetable producer were due last week, the people said, adding that private-equity firms are among those that have expressed interest in Dole Food.
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Nestle Buys Majority Stake in Premium Coffee Chain Blue Bottle -- Update
ZURICH -- Nestle SA on Thursday added to its fast-growing coffee business by acquiring a majority share in specialty coffee roaster and retailer Blue Bottle Coffee, in a deal that a person familiar with the matter said would give the Swiss consumer giant a 68% stake for about $425 million.
The deal, though tiny relative to Nestle's 89.5 billion Swiss francs ($92.7 billion) in 2016 sales, underscores the Swiss packaged-food company's emphasis on coffee as one of the priority parts of its business, while it pares back some of its confectionery business.
Livestock Futures Turn Lower on Mixed Cash Market
Cattle futures gave back early gains to close lower as traders waited for a price trend to emerge in the cash market.
A limited number of slaughter-ready cattle had traded in the week's cash market as of Thursday's session. Meatpackers bought a couple of thousand head of cattle for $105.60 per 100 pounds live and $165 dressed on Wednesday, according to the U.S. Department of Agriculture.
(END) Dow Jones Newswires
September 14, 2017 17:35 ET (21:35 GMT)