Home / Markets / Markets Analysis / Corn market / Corn, soybeans to drop

Corn, soybeans to drop

02/21/2013 @ 7:26am

DES MOINES, Iowa (Agriculture.com)--With profit-taking and expectations of a bearish USDA Ag Outlook Report, today's CME Group corn, soybean and wheat markets are seen lower.

The early calls for the commodities on Thursday, February 21, 2013, are lower. Corn is seen opening 1-2 cents lower. Soybeans are seen 4-6 cents lower and wheat 3-5 cents lower.

In overnight trading, the March corn futures contract traded 2 cents lower at $6.98 per bushel. March soybean futures traded 4 cents lower at $14.78 per bushel, and March wheat traded 5 cents lower at $7.33. For March soybean meal futures, the contract traded $0.10 per short ton higher at $433.70. March soybean oil futures traded $0.53 cents lower at $51.54. 

The outside markets are unfavorable for Thursday's grain trade. The real factors driving the calls will be the lower overnight markets.


Discuss the corn, soybean and wheat markets in Marketing Talk.

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Outlook: Harvest Weather Seen Favorable… By: 09/19/2014 @ 11:47am At least one thing is clear. The Midwest frost threat is no longer a worry, through early October…

Soybeans, Wheat Drop Double-Digits By: 09/19/2014 @ 8:38am DES MOINES, iowa (Agriculture.com)—Big yields, favorable weather, held the CME Group’s corn…

All Farm Markets Seen Weaker Friday By: 09/19/2014 @ 7:31am On Friday, the CME Group's corn, soybean, and wheat markets are expected to start lower. The…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Improving Soil Health