Corn, soybeans end higher
DES MOINES, Iowa (Agriculture.com)--After trading mixed most of the day, the CME Group corn, soybean, and wheat markets finished higher Wednesday.
On Thursday, the USDA Crop Production Report will be released at 11 a.m. CT.
The Dec. corn futures contract settled 4 cents higher at $4.72. The Nov. soybean futures contract closed 3 1/4 cents higher at $13.58. Dec. wheat futures finished 1 1/2 cents higher at $6.48 per bushel. The Dec. soymeal futures finished $2.80 per short ton higher at $428.00. The Dec. soyoil futures closed $0.11 lower at $42.96.
Tim Hannagan, Walsh Trading Inc. senior grain analyst, says today's trade had little to do with positioning ahead of tomorrow's report.
"Now that crop reports come out at 11:00 a.m. Central, with electronic and pit trading open, traders do not have to get positioned the day prior. This leaves trading narrow and two-sided while traders await report day."