Home / Markets / Markets Analysis / Corn market / Corn, wheat close higher

Corn, wheat close higher

08/16/2012 @ 9:36am

DES MOINES, Iowa (Agriculture.com)--The CME Group corn and wheat markets closed higher, soybeans lower Thursday.

The Dec. futures corn contract settled 3 1/2 cents higher at $8.07 1/2. The Nov. soybean contract closed 9 cents lower at $16.25. Dec. wheat futures finished 15 1/2 cents higher at $8.81 per bushel. 

In the outside markets, the NYMEX crude oil is $1.19 per barrel higher, the dollar is lower and the Dow Jones Industrials are 99 points higher.

Terry Roggensack, The Hightower Report co-founder, says the markets are mixed, as commodities have separate drivers.

"Wheat rallied, overnight, off of increased Russian exports that continue to deplete that country's stocks. Corn was supported by poor yields in western Iowa. And soybean prices were hurt by this belief that the current rains have helped boost yield potential," Roggensack says.

Also, the U.S. Farm Service Agency Thursday released its first installment of its county-by-county acreage sign-up. Though farmers have until September to sign-up, the report indicates that the U.S. could see an extra 1.8 million acres vs. previous USDA expectations. 


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

USDA Data Is Friendly, Soybeans Don't… By: 12/10/2014 @ 10:14am DES MOINES, Iowa (Agriculture.com)—The strong pace of U.S. exports has encouraged the USDA to…

Pre-USDA, Markets Drop Wednesday By: 12/10/2014 @ 8:53am DES MOINES, Iowa (Agriculture.com)--On Wednesday, the CME Group's corn, soybean and wheat…

Corn, Soybeans Seen Extending Gains By: 12/10/2014 @ 5:52am On Wednesday, the CME Group's corn, soybean and wheat markets are expected to start mostly…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
The Future of Livestock Production
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]