Chicago soyoil hits five-week high on clean fuel tax credit hopes – Markets

BEIJING: Chicago soyoil futures rallied to a five-week peak on Friday and were on course for a 9.9% weekly jump, following expectations of President Joe Biden’s administration releasing short-term guidance on clean fuel tax credits.

Soybean and corn prices rose and were headed for weekly gains as traders adjusted positions ahead of the US Department of Agriculture’s (USDA)…