Soybean futures hit two-week high

Chicago, July 20 (Reuters): Chicago Board of Trade soybean futures touched a two-week high on Friday on worries that heat may threaten U.S. crops and expectations that the country's biofuel policy would boost demand for soyoil, analysts said.

Soyoil futures set contract highs for a second day, while corn and wheat futures also finished stronger.

For the week, soybeans advanced about 2.8% and corn climbed 3.8 per cent. The rallies were a turnaround after the markets were recently under pressure from projections for large U.S. harvests and plentiful supplies from South America.

"Traders woke up to a grain market that looks more lively than it has in quite some time," said Arlan Suderman, chief commodities economist for StoneX.