Corn, soybean prices remain lower
DES MOINES, Iowa (Agriculture.com)--A more favorable outlook for rain in South America continues to pressure the CME Group corn, soybean prices Wednesday.
At mid-day, the March futures corn contract is trading 5 cents lower at $7.25. The March soybean futures contract is trading 8 cents lower at $14.87. March wheat futures are trading 4 cents higher at $7.61 per bushel. The March soyoil futures contract is trading $0.35 lower at $52.63. The March soymeal futures are trading $2.70 per short ton lower at $435.80.
In the outside markets, the NYMEX crude oil is $0.08 per barrel higher, the dollar is higher and the Dow Jones Industrials are 5 points higher.
A wetter forecast for the Argentine and Brazilian soybean producing regions is pressuring the markets Wednesday.