Home / Markets / Markets Analysis / Corn market / Corn, beans slump as wheat rallies at mid-day

Corn, beans slump as wheat rallies at mid-day

Jeff Caldwell 11/19/2010 @ 12:01pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

Wheat's higher, but corn and soybeans continue to slump in mid-day Friday trading.

At mid-day, December corn is 11 cents lower at $5.30 3/4 per bushel, while January soybeans are 24 1/2 lower at $12.17 1/2, according to Barchart.com. December wheat is 5 1/4 cents higher at $6.50 1/2 per bushel, deriving strength from an upswing in demand and a lack of sellers, analysts say in a Dow Jones Newswires report.

Is this further proof that a top has been made in the market? "Maybe we're reaching a point where the funds start to sell rallies rather than buy dips," says Marketing Talk member GoredHusker. I've had a hunch that many of them will take profits before the end of the year."




CancelPost Comment
MORE FROM JEFF CALDWELL more +

Cool, Dry Corn Belt Conditions to Persist --… By: 07/30/2014 @ 8:48am As cooler-than-normal temperatures continue to keep crop stress at bay in the absence of measurable…

Rain Chances, Global Tumult Sink Grains… By: 07/29/2014 @ 2:57pm After a higher day for corn and soybean futures on Monday, it was a Turnaround Tuesday that saw all…

Risk Management, Farm Policy Critical During… By: 07/29/2014 @ 2:01pm The business of raising corn, soybeans, and wheat isn't what it was a couple of years ago. Now…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Weather Trumps Demand