Home / Markets / Markets Analysis / Corn market / At mid-session, the CME Group grains slip from earlier gains

At mid-session, the CME Group grains slip from earlier gains

07/21/2010 @ 11:00pm

CHICAGO, Illinois (Agriculture.com)--At mid-session, the CME Group grain markets lose some ground, since a sharply higher start Thursday. 

At mid-session, the Dec corn futures are 1 cent lower at $3.92 1/2. The Nov. soybean contract is 4 1/2 cents higher at $9.83. The Sep. wheat futures are 9 3/4 cents higher at $5.98. Dec. soybean meal futures are $0.90 lower at $284.10 per short ton. Dec. soyoil futures are trading 69 points higher at 39.74.

In the outside markets, the NYMEX crude oil is $2.12 higher per barrel, the dollar is lower, and the Dow Jones Industrials are up 199 points.

"The markets have retreated, since starting sharply higher. The lower dollar and the world weather continue to underpin the market. But, the markets have slipped back," Scott Shellady, GFI Group Inc. says. 

Europe's wheat crop is being damaged by dryness. Plus, the outside markets are supporting the grain markets Thursday. 

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans, Wheat Close Double-Digits Lower By: 07/29/2014 @ 3:12pm On Tuesday, the CME Group soybean market took back some of the gains from yesterday.At the close…

China Corn Ban Frustrates U.S. Industry By: 07/29/2014 @ 2:29pm How can the U.S. regain the China corn import market? That's the question asked and topic…

Farmers Are Urged to Adopt Conservation… By: 07/28/2014 @ 2:09pm U.S. farmers need to wake up to adopting conservation measures, world buyers find U.S. corn carries…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Scott Shellady: Options 101