Home / Markets / Markets Analysis / Corn market / Corn, soybeans close higher

Corn, soybeans close higher

11/23/2012 @ 9:47am

DES MOINES, Iowa (Agriculture.com)--The bullish USDA's Weekly Export Sales Report helped the CME Group corn, soybean and wheat markets to close higher Friday.

At the close, the Dec. futures corn contract settled 4 cents higher at $7.45. Jan. soybean futures contract closed 10 cents higher at $14.18. Dec. wheat futures finished 2 cents higher at $8.47 per bushel. The Dec. soyoil futures contract is trading $0.49 higher at $49.32. The Jan. soymeal futures contract settled 0.70 per short ton higher at $428.60.

In the outside markets, the NYMEX crude oil is $1.22 per barrel higher, the dollar is lower and the Dow Jones Industrials are 172 points higher.

On Friday, the USDA released its Weekly Export Sales Report. For corn, USDA estimates sales at 958,600 mt vs. the trade's expectations of 250-500,000.

For soybeans, exports totaled 543,600 mt vs. the trade's expectations of 400,000-650,000.

Wheat sales are estimated at 657,400 mt vs. the trade's expectations of 200,000-450,000.

For soymeal, USDA estimated at 197,900 vs. the trade's expectations of 200,000-300,000.

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Close 13¢ Lower Tuesday By: 11/18/2014 @ 8:37am DES MOINES, Iowa (Agriculture.com)—Acting like a ‘turnaround Tuesday’, the CME Group soybean…

Soybeans Seen Slightly Higher Tuesday By: 11/18/2014 @ 6:36am On Tuesday, the CME Group's corn, soybean, and wheat markets are expected to start mostly…

Soybeans Close 13¢ Higher Monday By: 11/17/2014 @ 8:48am DES MOINES, Iowa (Agriculture.com)—On Monday, the CME Group soybean market closed higher, with…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cool Tools Christmas Edition: Part 2