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Corn higher, wheat & soybeans lower Thursday

Jeff Caldwell 12/16/2010 @ 2:17pm Agricultural content creator and marketer.

Corn stayed on the higher side, while soybeans and wheat sunk in Thursday's trade.

March corn ended Thursday's trade 2 cents higher at $5.86 1/4 per bushel, according to Barchart.com. January soybeans ended 7 1/2 cents lower at $12.89 per bushel, while March wheat was 15 cents lower at $7.49 3/4 per bushel.

With moisture remaining in short supply in Plains wheat country, it's just one region under stress that could give some strength to the wheat trade in the near future.

"Meager precipitation at best is forecast there for the 6-10 day time frame, and it could very well be completely dry in the region for that period. Moisture in the 11-15 day time frame for the Nation's midsection should stay well to the east of the Plains hard-red winter wheat belt," according to Thursday's commentary from Freese-Notis Weather, Inc. "Wheat traders are also looking at various world wheat areas as well, with Australia at the top of the list. Parts of eastern Australia will again see substantial rains (particularly for the weekend), but will dry out in the 6-10 day time frame."

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