Corn, wheat end sharply lower
DES MOINES, Iowa (Agriculture.com)--With the CME Group soybean futures market giving up a big rally and corn and wheat prices settling sharply lower, Tuesday's trading action proved to be very volatile.
The July corn futures settled 19 1/2 cents lower at $5.59, while the Dec. contract finishing 8 1/2 cents lower at $5.13. The July soybean contract finished 4 cents higher $13.86, while the Nov. 2012 contract settled 3 3/4 cents higher at $12.93. The July wheat futures ended 24 cents lower at $6.56. July soyoil futures closed up $0.06 at $50.18. The July soymeal futures settled $3.20 per short ton higher at $412.50.
In the outside markets, the NYMEX crude oil is $0.17 per barrel lower, the dollar is higher and the Dow Jones Industrials are down 73 points.