Home / Markets / Markets Analysis / Corn market / Corn, soybeans kick off week lower

Corn, soybeans kick off week lower

Jeff Caldwell 10/08/2012 @ 8:09am Multimedia Editor for Agriculture.com and Successful Farming magazine.

With not much bullish news to speak of over the weekend and expected record-fast harvest progress when USDA adds up its weekly Crop Progress numbers Tuesday afternoon, the corn and soybean markets are starting the day lower on Monday.

Open outcry trading will take Monday off on the CME Group floor on account of the Columbus Day holiday. Electronic trading on the CME Globex platform, however, will trade on its normal schedule.

In early trading, December corn futures were 6 1/2 cents lower at $7.41 1/2 per bushel, while November soybeans were 8 1/2 lower at $15.43. Wheat futures are still riding higher, with the December contract 2 1/2 cents higher at $8.60.

"The world really hasn't changed that much since Friday," says Scott Shellady, Agriculture.com Market Analyst and options specialist with the Trean Group in Chicago. " I still find it absolutely amazing that we are at these price levels and volumes are so low. A number of reasons why but it still seems perplexing."

CancelPost Comment
MORE FROM JEFF CALDWELL more +

3 Things to Watch This Morning, Monday… By: 03/30/2015 @ 6:33am Today's the calm before the storm in the grains Monday.Tomorrow is the biggest USDA report day…

USDA Extends ARC, PLC Selection Deadline By: 03/27/2015 @ 12:00pm If you're stressing to meet next week's deadline for selecting the federal crop insurance…

The Latest 'Successful Land Sales' By: 03/27/2015 @ 10:52am With crop prices continuing to stay at or below profitable levels, a lot of farmers are talking…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Planter tips: Seeds
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]