Corn, beans slump as wheat rallies at mid-day
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."