Home / Markets / Markets Analysis / Corn market / Corn, soybean prices end higher

Corn, soybean prices end higher

05/15/2012 @ 9:37am

DES MOINES, Iowa (Agriculture.com)--Tuesday's corn, soybean and wheat markets finished as they started, higher. 

The July corn futures closed 14 1/4 cents higher at $5.97 1/2, while the Dec. contract closed 9 cents higher at $5.14 1/2. The July soybean contract settled 26 cents higher $14.13, while the Nov. 2012 contract settled 10 1/4 cents higher at $13.05. The July wheat futures ended 10 1/4 cents higher at $6.08 1/2. The July soymeal futures are trading $8.10 per short ton higher at $411.60 and July soyoil futures trade down $0.08 at $51.22. 
In the outside markets, the NYMEX crude oil is $1.51 per barrel lower, the dollar is higher and the Dow Jones Industrials are up 63 points.

Alan Brugler, Brugler Marketing & Management LLC president, say the market is experiencing a number of bullish factors today. "The market is being underpinned by Turnaround Tuesday buying, a bounce from retracement support in the beans, projected net drying of soils for entire Corn Belt over next week, above normal temps in the 8-14 day forecast and risk of that continuing into June," Brugler says. 

Reduced winter wheat crop ratings due to drought in Southwest KS is likely to be aggravated per drier weather ahead, he says. 

"Meanwhile, July corn futures are trying to close expiration gap with May." 

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Outlook: Harvest Weather Seen Favorable… By: 09/19/2014 @ 11:47am At least one thing is clear. The Midwest frost threat is no longer a worry, through early October…

Soybeans, Wheat Drop Double-Digits By: 09/19/2014 @ 8:38am DES MOINES, iowa (Agriculture.com)—Big yields, favorable weather, held the CME Group’s corn…

All Farm Markets Seen Weaker Friday By: 09/19/2014 @ 7:31am On Friday, the CME Group's corn, soybean, and wheat markets are expected to start lower. The…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Improving Soil Health