Home / Markets / Markets Analysis / Corn market / Farm markets remain higher

Farm markets remain higher

08/15/2011 @ 9:43am

CHICAGO, Illinois (Agriculture.com)--The Monday CME Group farm markets remain strong. Plenty of bullish factors have helped to drive prices higher.

The Dec. corn futures are trading 7 cents higher at $7.21 1/2. The Nov. soybean contract is trading 14 1/4 cents higher at $13.49. The Sep. wheat futures are trading 10 cents higher at $7.12 1/2. The Sep. soyoil futures are trading $0.99 higher at $55.64. The Sep. soymeal futures are trading $3.10 per short ton higher at $355.20.

In the outside markets, the NYMEX crude oil is $1.61 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 117 points.

Supportive outside markets, expected drop in crop ratings this afternoon, less rain over the weekend and drier weather for the remainder of this month are all underpinning today's farm markets.

"A strong tailwind from expectations for crop ratings to decline in this afternoon's weekly USDA Crop Progress Report along with weekend rains falling short of expectations leaving at least 40% of Midwest dry, should be positive for corn and beans," Richard Feltes, RJ O'Brien research vice-president stated in a daily newsletter to customers.

In addition, a strong dollar plunge gives agricultural markets an additional price boost, he says.  


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Close 13¢ Lower Tuesday By: 11/18/2014 @ 8:37am DES MOINES, Iowa (Agriculture.com)—Acting like a ‘turnaround Tuesday’, the CME Group soybean…

Soybeans Seen Slightly Higher Tuesday By: 11/18/2014 @ 6:36am On Tuesday, the CME Group's corn, soybean, and wheat markets are expected to start mostly…

Soybeans Close 13¢ Higher Monday By: 11/17/2014 @ 8:48am DES MOINES, Iowa (Agriculture.com)—On Monday, the CME Group soybean market closed higher, with…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cool Tools Christmas Edition: Part 2