Home / Markets / Markets Analysis / Corn market / Corn, Soybean Prices Close Lower

Corn, Soybean Prices Close Lower

07/08/2014 @ 8:48am

DES MOINES, Iowa (Agriculture.com)--Turnaround Tuesday did not carry through, as the CME Group corn and soybean and wheat markets settled lower.


At the close, the Dec. corn futures closed 2 cents lower at $4.04. Nov. soybean futures finish 9 1/4 cents lower at $11.16. Sep. wheat futures end 1/4 cent lower at $5.56. The Dec. soymeal futures contract is trading $1.40 per short ton lower at $357.30. The Dec. soyoil futures closed $0.54 lower at $37.97.


In the outside markets, the NYMEX Brent crude oil is $0.31 per barrel lower, the dollar is lower, and the Dow Jones Industrials are 103 points lower.


Tim Hannagan, Walsh Trading Inc., says bearish report thoughts and bearish crop weather equal lower markets. It's that simple. "With a bearish crop report expected Friday, it's allowing corn and beans more time to trade the bearish weather pattern. Look for some short covering ahead of the report but then selling reenters."

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Fund Rallies Ruling The Markets By: 05/22/2015 @ 11:19am Yes, the wheat market has rallied 60¢ since May 13. And yes, the corn and soybean markets have…

Long Weekend Can Mean Market Volatility By: 05/22/2015 @ 11:09am After several corn and soybean contracts mad new lows this week, traders fear the upcoming holiday…

Corn, Soybeans Stay Lower Friday By: 05/22/2015 @ 8:48am DES MOINES, Iowa (Agriculture.com)--On Friday, the CME Group's corn, soybean and wheat markets…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Weather Update - Late May, Early June
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]