Home / Markets / Markets Analysis / Corn market / Soybeans end 28¢ lower

Soybeans end 28¢ lower

10/28/2013 @ 8:56am

DES MOINES, Iowa (Agriculture.com)--On Monday, the CME Group's corn market hit close to a 38-month low, while soybeans were pressured by farmer-selling.

The Dec. corn futures contract closed 9 cents lower at $4.30. The Nov. soybean futures contract settled 28 cents lower at $12.71. Dec. wheat futures ended 9 cents lower at $6.81 per bushel. The Dec. soymeal futures contract closed $8.80 per short ton lower at $414.70. The Dec. soyoil futures closed $0.37 lower at $40.36. 

In the outside markets, the NYMEX crude oil is $0.76 per barrel higher, the dollar is higher and the Dow Jones Industrials are 24 points higher.

Jack Scoville, PRICE Futures Group vice-president, says farmer selling could be hurting the soybean market.

 "It's interesting that we are so low even with the good demand.  Maybe some farmers delivered or something.  I have heard that planting progress is about normal in Brazil.  Plus the weather there is good.  And, I am longer term bearish, but not really expecting a dive like this today."


JOIN US: The Successful Farming Marketing Academy.

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Settle Up 14¢ By: 07/28/2015 @ 8:46am DES MOINES, Iowa (Agriculture.com)—On Tuesday, the CME Group soybean market regained some of its…

USDA: Corn Crop Improves, Soybeans Hold… By: 07/27/2015 @ 3:19pm DES MOINES, Iowa (Agriculture.com)—The U.S. corn crop's condition is improving, while the…

Soybeans Close 30¢ Lower By: 07/27/2015 @ 8:52am DES MOINES, Iowa (Agriculture.com)--On Monday, the CME Group corn, soybean markets closed sharply…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cover Crops-Cost
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]