Home / Markets / Markets Analysis / Corn market / Export news pumps up grain futures

Export news pumps up grain futures

04/19/2012 @ 3:39pm

US grain and soybean futures closed higher Thursday, with corn surging amid concerns that yesterday's selloff took prices too low, given tight current supplies.

Speculation that China could buy US corn also supported prices. Market participants unwinding long-soybean/short-corn spread positions also supported corn and limited gains for soybeans.

CBOT May corn ends up 19 1/4c, or 3.2%, at $6.21 a bushel. CBOT May soybeans up 8c at $14.15 3/4 a bushel; May soymeal up $1.30 at $391.90 a bushel; and May soyoil down 0.02c at 55.17c/lb. CBOT May wheat up 14c, or 2.3%, at $6.24 3/4 a bushel; KCBT May wheat up 11 1/2c at $6.37 1/2 a bushel; MGEX May wheat up 9 1/4c at $8.09 1/4 a bushel.

Call us at (212) 416-2181 or email john.shipman@dowjones.com
(END) Dow Jones Newswires
April 19, 2012 14:59 ET (18:59 GMT)
DJ MARKET TALK: Corn Leads US Grain, Soy Futures To Higher Close->copyright

CancelPost Comment

USDA: Reporting Hog Deaths Required By: 04/18/2014 @ 10:45am The U.S. Department of Agriculture said Friday it will require the pork industry to report…

Wheat Futures Rise as Cold, Drought Threaten… By: 04/17/2014 @ 3:51pm Wheat futures rose for the third time in four sessions on speculation that cold weather earlier…

Ukraine Upheaval Sparks Business Concerns By: 04/17/2014 @ 1:22pm Escalating military action and sanctions are forcing executives around the globe to map out…

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