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Corn Ends Lower, Soybeans Mixed

04/17/2014 @ 8:38am

DES MOINES, Iowa (Agriculture.com)--On Thursday, the CME Group corn markets closed lower, soybeans mixed.

The May corn futures contract finished 2 3/4 cents lower at $4.94. The Dec. corn futures finished 2 1/4 cents lower at $4.96. The May soybean futures contract closed 4 3/4 cents lower at $15.14. The Nov. soybean futures finished 2 cents higher at $12.39. May wheat futures closed 3 1/4 cents higher at $6.91 per bushel. The May soymeal futures contract finished $2.70 per short ton lower at $488.30. The May soyoil futures closed $0.30 lower at $43.41.

In the outside markets, the Brent crude oil is $0.11 per barrel lower, the dollar is lower and the Dow Jones Industrials are 11 points higher.

Helen Pound, Sr. Futures Market Specialist for KCG Futures, is telling newsletter customers that weather is playing a big part in the markets. "Unrest in Ukraine and a forecast for continued mostly dry weather in the US southwest over the next ten days has brought buyers into the wheat futures.  A forecast for warmer, drier weather in the US Midwest has corn and bean buyers on the sidelines."

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Weather Trumps Demand