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Corn, soybeans close lower

Updated: 12/26/2012 @ 2:29pm

DES MOINES, Iowa (Agriculture.com)--After a higher start, the CME Group corn, soybean and wheat prices closed much weaker Wednesday.  

The March futures corn contract closed 11 cents lower at $6.93. The Jan. soybean futures contract finished 15 cents lower at $14.24. March wheat futures finished 19 cents lower at $7.74 per bushel. The Jan. soyoil futures contract ended $0.65 lower at $48.29.  The Jan. soymeal futures contract settled $3.50 per short ton lower at $431.30.

In the outside markets, the NYMEX crude oil is $2.38 per barrel higher, the dollar is lower and the Dow Jones Industrials are 6 points lower.

"Good rains in HRW areas got wheat off to a lower start. Corn and soybeans traded surprisingly lower. There is very light trade. And, the Pacific Northwest Port strike certainly is not a bullish input," Matt Connelly, an independent CME Group floor trader says. 

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12/26/2012 @ 12:02pm Wow merry Christmas to the farmer thanks CBOT you rock and your welcome for paying your bills and your bonus checks.

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mark guildenzoph 12/26/2012 @ 11:12am WHY???????????????????????????????????????????????????????????????????????????????????????????????

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Re: Re: 12/26/2012 @ 12:00pm Just for fun remember the CBOT does not care about the farmer it's just a game for them.

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