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

Corn, soybeans close lower

08/22/2012 @ 9:46am

DES MOINES, Iowa (Agriculture.com)--As they started the day, the CME Group corn, soybean and wheat markets finished lower Wednesday.

The Dec. futures corn contract closed 4 cents lower at $8.34 3/4. The Nov. soybean contract settled 4 3/4 cents lower at $17.27 3/4. Dec. wheat futures settled 5 cents lower at $9.17 per bushel. The Dec. soyoil futures contract finished $0.61 higher at $56.83. The Dec. soymeal futures contract finished $4.80 per short ton lower at $519.70. 

In the outside markets, the NYMEX crude oil is $0.28 per barrel lower, the dollar is lower and the Dow Jones Industrials are 33 points lower.

Tim Hannagan, Alpari (U.S.) senior grain analyst, says poor crop yields are keeping the market from falling further. 

"Crop news is the same today and that’s lending support to futures. But, funds are fat with profits, after two big up days, lending to profit-taking off strength. So, we're choppy with a negative lean," Hannagan says. 

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

USDA Bullish Soybean Data Trumped By: 09/30/2014 @ 10:54am As of September 1, the USDA sees the U.S. soybean and corn stocks getting tighter.In its Quarterly…

Corn, Soybean Markets Dip Tuesday By: 09/30/2014 @ 8:38am DES MOINES, Iowa (Agriculture.com)--On Tuesday, the CME Group's corn, soybean, and wheat…

Corn, Soybeans to Drop Tuesday By: 09/30/2014 @ 8:01am On Tuesday, 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.
Pre-Harvest Checklist