Soybean futures were higher Wednesday for the fifth straight session and the highest since August, helped by a surge in the soybean oil market. Soybean oil rose after EPA on Wednesday raised its targets for biofuel use in 2017.

Ethanol sped higher after the EPA news but quickly retreated to trade about unchanged near midday.

Wheat markets were lower as forecasts show above-normal precipitation next week in the dry Southeast.

Bob Burgdorfer of Farm Futures reporting. Farm Futures is a sister publication of Feedstuffs.