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

Corn, soybean prices end higher

Updated: 11/20/2012 @ 5:36pm

DES MOINES, Iowa (Agriculture.com)--With an increased outlook for Chinese soybean demand, the CME Group corn, soybean, and wheat markets finished stronger Tuesday.

The December futures corn contract settled 4 cents higher at $7.42. January soybean futures contract finished 18 cents higher at $14.12. December wheat futures ended 3 cents higher at $8.45 per bushel. The December soyoil futures contract is trading 43 cents higher at $48.32. The January soymeal futures contract finished $5.00 per short ton higher at $429.60.

In the outside markets, the NYMEX crude oil is $1.22 per barrel higher, the dollar is lower, and the Dow Jones Industrials are 42 points lower.

Alan Brugler, Brugler Marketing & Management LLC president, says the markets bounced from the two-thirds speedline support in the December 2013 corn, and are back above round number support in beans ($14) due to increased Chinese purchases.


"China also halted their reserve sales since the sale price was below the new crop support price. That could result in additional need for imports. A weaker dollar was also aiding commodity prices in general. We are seeing some profit taking in gold and crude oil from their pops on Monday," Brugler says. 

CancelPost Comment

EPA Raises RFS Volume Requirements By: 11/30/2015 @ 2:14pm DES MOINES, Iowa (Agriculture.com)—On Monday, the Environmental Protection Agency announced it…

Soybeans, Corn End Higher Monday By: 11/30/2015 @ 8:59am DES MOINES, Iowa (Agriculture.com)--On Monday, the CME Group's corn and soybean markets closed…

2016 Basis Prices Vary Widely Depending on… By: 11/25/2015 @ 2:24pm This marketing year, farmers who are looking to pick up a few more cents per bushel for their corn…

This container should display a .swf file. If not, you may need to upgrade your Flash player.
Successful Marketing Newsletter