Home / Markets / Markets Analysis / Corn market / Corn, soybeans slide on demand worries

Corn, soybeans slide on demand worries

Jeff Caldwell 12/01/2011 @ 4:11pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

Poor export demand and generally lackluster demand prospects for corn and soybeans sent those grains tumbling after a few days of bounceback gains on the CME Group floor Thursday.

At the close, March corn was 6 1/2 cents lower at $5.94 3/4 per bushel, while January soybeans were 3 1/4 cents lower at $11.28, according to Barchart.com. March wheat was the lone grain in the black Thursday, ending up 6 1/4 cents higher at $6.02 per bushel.

Thursday morning's weekly grain export sales numbers came in lower than anticipated for corn, and that stoked fears that previously though tight corn carryout stocks may stretch further than market-watchers thought earlier this spring. On top of demand concerns like that, some traders entered into profit-taking mode toward the end of Thursday's session, contributing to the lower close.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Dry Getting Drier, Wet Getting Wetter --… By: 04/17/2014 @ 8:37am Rain and snow last weekend and early this week was enough to put a dent in the general drought…

Soybeans blast off on strong processing data By: 04/15/2014 @ 3:27pm Soybean futures topped out Tuesday above $15/bushel for the first time in quite a while on news…

Farm Debt-to-Asset Ratios Lowest in 20 Years… By: 04/15/2014 @ 2:27pm Farm debt has increased a lot over the last two decades. Bad news, right? At the same time, general…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Big Picture: CME Trading Weather