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NEW YORK (AP) - Soybean prices surged Friday after the U.S. Department of Agriculture reported that farmers this year planted the fewest acres of soybeans in more than a decade.
Elsewhere in the commodities markets, crude oil climbed above $70 a barrel. Gold and silver rose modestly, while industrial metals finished in a mixed range.
Soybean prices surged to the market limit after the USDA said that acreage dedicated to soybeans slid 15 percent to 64.1 million acres — the lowest since 1995. November soybeans spent much of the day up 50 cents at $8.9225 a bushel on the Chicago Board of Trade, hitting the daily trading limit permitted by the exchange.
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