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Corn, Soybeans, Wheat Seen Falling Thursday

08/07/2014 @ 8:02am

On Thursday, the CME Group's corn, soybean, and wheat markets are expected to start lower.


The early calls for the commodities on Thursday, August 7, 2014, are mostly weaker. Corn is seen opening 1 to 2 cents lower, soybeans 1 to 2 cents lower, and wheat 4 to 5 cents lower. In overnight trading, the Dec. corn futures contract traded 3 cents lower at $3.71 per bushel. Nov. soybean futures traded 3/4 cent lower at $10.79. The Sep. wheat futures contract traded 4 cents lower at $5.64. For Dec. soybean meal futures, the contract traded $0.50 per short ton lower at $347.70; Dec. soybean oil futures traded $0.09 lower at $36.11.


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.

USDA Weekly Export Sales show that soybeans beat and corn, and wheat fell within expectations:

Corn = 879,600 metric tons vs. the trade's expectations of between 400,000 and 1,000,000 metric tons

Soybeans = 1.455 million metric tons vs. the trade's expectations of between 300,000 and 1,400,000 metric tonsSoybean meal = 731,100 metric tons vs. the trade's expectations of between 150,000 and 500,000 metric tons

Wheat = 620,900 metric tons vs. the trade's expectations of between 400,000 and 725,000 metric tons

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