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Corn, soybeans open lower

03/28/2013 @ 9:38am

On Thursday, the CME Group corn and soybean markets open lower, ahead of today's USDA Planting Intentions and Quarterly Stocks Reports at 11:00am CT.

At the open, the May futures corn contract is trading 3 cents lower at $7.32.The May soybean futures contract is trading 3 cents lower at $14.50. May wheat futures are trading 1 cents higher at $7.37 per bushel. The May soymeal futures are trading $0.30 per short ton lower at $432.80. The May soyoil futures are trading $0.15 lower at $50.67.
In the outside markets, the NYMEX crude oil is $0.06 per barrel lower, the dollar is lower and the Dow Jones Industrials are 29 points higher.

In its weekly Export Sales Report, the USDA pegged U.S. corn sales at 275,500 metric tons vs. the trade's expectations of between 250-400,000 mts.

For U.S. soybeans, sales were estimated at 674,100 mt vs. the trade's expectations of 350-500,000 mts.

Wheat sales were pegged at 828,600 mt vs. the trade's expectations of 350-550,000 mts.

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