Home / Markets / Markets Analysis / Corn market / Corn closes up 20¢

Corn closes up 20¢

06/19/2013 @ 8:37am

DES MOINES, Iowa (Agriculture.com)--A forecast that calls for a building heat ridge in the Midwest helped the CME Group corn, soybean, and wheat prices settle sharply higher Wednesday. On the week, the corn and wheat markets are up 4%.

VIDEO: Critical Weather for Corn Planting 


MORE VIDEOS >> 

The July futures corn contract closed 9 cents higher at $6.82. New-crop December corn futures settled 20 cents higher at $5.70. The July soybean futures contract ended 12 cents higher at $15.23; new-crop November soybeans closed 21 cents higher at $13.10. July wheat futures finished 19 cents higher at $7.07 per bushel. The July soymeal futures closed $1.80 per short ton higher at $453.60. The July soyoil futures ended 54 cents higher at $49.35.

In the outside markets, the NYMEX crude oil is 5 cents per barrel lower, the dollar is higher, and the Dow Jones Industrials are 71 points lower.

"With this Midwest heat ridge building in the forecast models, the trade thinks the drought starts today," one CME Group floor trader, requesting anonymity, tells Agriculture.com.


Sign up for our Market Email Alerts!

 


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Strong Dollar Pushes Corn, Soybeans To Lower… By: 05/26/2015 @ 8:38am DES MOINES, Iowa (Agriculture.com)--On Tuesday, the CME Group's corn, soybean and wheat…

Corn, Soybean Markets Seen Lower Tuesday By: 05/26/2015 @ 8:01am On Tuesday, the CME Group's corn, soybean and wheat markets are expected to start lower. The…

Fund Rallies Ruling The Markets By: 05/22/2015 @ 11:19am Yes, the wheat market has rallied 60¢ since May 13. And yes, the corn and soybean markets have…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Weather Update - Late May, Early June
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]