Export talk boosts grain futures
Renewed optimism regarding grain export demand in the near future is making its way around the CME Group floor, and that's got grain gains sharpening as Wednesday's session hits the midday point despite a sliding equities market.
At midday, December corn is 15 cents higher at $7.56 3/4 per bushel, December wheat is 13 1/4 higher at $8.70, and November soybeans are 16 3/4 cents higher at $15.53 1/4.
Corn exports from other nations like Argentina and Ukraine are slowing, opening the door for more U.S. exports, one analyst says in a Dow Jones Newswires report.
The gains come despite a midday dip into the red in the equities trade, with the Dow Jones Industrial Average, S&P 500, and NASDAQ all trending slightly lower after early gains.