Home / Markets / Markets Analysis / Corn market / Corn pops on late planting nerves

Corn pops on late planting nerves

04/19/2013 @ 2:25pm

U.S. corn futures rose Friday on worries about a cold, wet spring delaying corn planting in the Midwest.

Chicago Board of Trade May corn settled up 7 1/2 cents or 1.2% at $6.52 a bushel.

After a major storm in the Midwest this week, another rain system is expected to move across the region early next week, continuing the recent spate of unfavorable weather for corn planting.

Late corn planting can reduce the expected yield of the crop, and planting delays could lead some farmers to plant soybeans instead of corn, reducing corn supplies this fall, traders said.

Concern about the delays will become more severe if planting is pushed beyond early May, traders said.


xxxxxxxxxxxxxxxxxxx


Soybean futures fell on the expectations for some farmers to switch from corn to soybeans, boosting supplies of the oilseed after the fall harvest.

Wheat futures rose on concerns about frost damage to Plains crops on Friday morning, after temperatures fell well into the 20s Fahrenheit in parts of Kansas, Oklahoma and Texas.

May soybeans fell 2 1/4 cents or 0.2% to $14.28 1/4 a bushel. CBOT May wheat rose 6 1/4 cents or 0.9% to $7.09 a bushel.


Write to Owen Fletcher at owen.fletcher@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
April 19, 2013 14:35 ET (18:35 GMT)
DJ U.S. Corn Futures Settle Up On Planting Delay Worries->copyright


Sign up for our Market Email Alerts!

 


CancelPost Comment
MORE FROM DOW JONES NEWSWIRES more +

Wheat futures rise as cold, drought threaten… By: 04/17/2014 @ 3:51pm Wheat futures rose for the third time in four sessions on speculation that cold weather earlier…

Ukraine Upheaval Sparks Business Concerns By: 04/17/2014 @ 1:22pm Escalating military action and sanctions are forcing executives around the globe to map out…

Soybeans hit 8-month highs as processing… By: 04/15/2014 @ 3:31pm Soybeans jumped to the highest price in more than eight months after an industry report showed the…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Big Picture: CME Trading Weather