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

Corn, soybean prices end lower

11/07/2011 @ 9:38am

DES MOINES (Agriculture.com)--Continued weakness rules the CME Group commodities floor Monday.

The Dec. corn futures settled 2 1/2 cents lower at $6.53 1/4. The Jan. soybean contract ended 19 1/4 cents lower at $12.01 3/4. The Dec. wheat futures closed 2 cents higher at $6.38 3/4. The Dec. soymeal futures settled $6.10 per short ton lower at $309.30. The Dec. soyoil futures ended $0.67 lower at $51.20. 

In the outside markets, the NYMEX crude oil is $1.45 per barrel higher, the dollar is higher and the Dow Jones Industrials are up 44 points.

Jack Scoville, PRICE Futures Group vice-president, says the soybean market is getting hurt the worst. "That market is down due to the good weather in South America, as well as the crap with MF Global."  

Though it's ticked up a little, the trade volume remains light.

"There is still a lot of EU fear keeping people on the sidelines," Scoville says.

Reports of soybean yields seem better here than corn yields, overall, Scoville says. "So, there are some ideas of a good production number from USDA Wednesday hurting beans, but corn less so.  It is going to be a quiet day today and probably tomorrow too."

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Rally on Demand By: 07/23/2014 @ 8:38am DES MOINES, Iowa (Agriculture.com)--The CME Group soybean market is trying to help pull up wheat…

Soybean Prices to Tick Higher Wednesday By: 07/23/2014 @ 7:41am On Wednesday, the CME Group's corn, soybean, and wheat markets are expected to start mostly…

Soybeans Close 13¢ Lower By: 07/22/2014 @ 9:17am DES MOINES, Iowa (Agriculture.com)--After starting higher, the CME Group corn, soybean and wheat…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
New 6631 Sunflower Vertical Tillage System