Home / Markets / Markets Analysis / Corn market / Fast planting to drop corn, soybeans

Fast planting to drop corn, soybeans

05/01/2012 @ 6:34am

As U.S. farmers plant corn in a rapid pace, the CME Group corn, soybean and wheat markets fall overnight, creating a lower expected start to Tuesday's trade.

The Early Calls for the commodities on Tuesday, May 1, 2012, are lower. 

Corn is seen opening 4-6 cents lower, soybeans 10-12 cents lower and wheat 6-8 cents lower.

In overnight trading, the July corn futures contract traded 4 1/2 cents higher at $6.29 3/4 per bushel. July soybean futures traded 12 1/4 cents lower at $14.93 1/4 per bushel, and July wheat traded 7 1/4 cents lower at $6.47 1/4. For July soybean meal futures, the contract traded $2.60 per short ton lower at $432.90. July soybean oil futures traded $0.42 lower at $54.63.

The outside markets are unfriendly for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets.

In its weekly Crop Progress Report, the USDA rated the U.S. corn 53% planted.


Discuss the corn, soybean and wheat markets in Marketing Talk.


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

USDA Data Is Friendly, Soybeans Don't… By: 12/10/2014 @ 10:14am DES MOINES, Iowa (Agriculture.com)—The strong pace of U.S. exports has encouraged the USDA to…

Pre-USDA, Markets Drop Wednesday By: 12/10/2014 @ 8:53am DES MOINES, Iowa (Agriculture.com)--On Wednesday, the CME Group's corn, soybean and wheat…

Corn, Soybeans Seen Extending Gains By: 12/10/2014 @ 5:52am On Wednesday, the CME Group's corn, soybean and wheat markets are expected to start mostly…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
The Future of Livestock Production
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]