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Farm markets end lower

Updated: 05/23/2011 @ 2:09pm

CHICAGO, Illinois (Agriculture.com)--Outside market pressure is keeping the CME Group grain and soybean prices knocked down Monday.

At mid-session, the July corn futures are 3/4 of a cent lower at $7.58 3/4. The July soybean contract is 3 cents lower at $13.77 1/4. The July wheat futures are 12 3/4 cents lower at $7.93 3/4. The July soybean meal futures are $0.60 per short ton lower at $360.00. July soyoil is $0.18 lower at $57.28.

In the outside markets, the NYMEX crude oil is $3.10 per barrel lower, the dollar is higher and the Dow Jones Industrials are down 162 points.

With crude oil falling 3%, and the dollar rising, the commodities are under pressure Monday, analysts say.

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