Days of searing heat in the southern Midwest and Delta states last week pushed soybean prices more than 20 cents a bushel higher than the week before.
November soybeans in Chicago hit a 10-week high on Aug. 31 before falling back a couple of cents
Sept. 1, the day before the Labor Day weekend, on profit taking and a forecast of cooler weather.
The November canola contract on the Winnipeg Commodity Exchange rose more than $6 a tonne during the week in sympathy with the soybean market.
American traders suspect the heat damaged soybeans at their critical pod-filling stage.
Some traders believe soybean production estimates will be revised down by at least five percent.
However, a continued price rally would be held back by the fact that even with the damage, the size of the crop would still be a record.
Wheat futures up too
Wheat futures also rose because of the heat and dryness in the southern U.S. There are concerns it could affect how much winter wheat is sown.
