Home / Markets / Markets Analysis / Corn market / Grains close mostly higher

Grains close mostly higher

Updated: 12/08/2011 @ 2:11pm

DES MOINES, Iowa (Agriculture.com)--The CME Group corn, soybean markets closed higher Thursday.

The March corn futures settled 7 1/2 cents higher at $6.00 1/4. The Jan. soybean contract closed 1 1/2 cents higher at $11.32 1/2. The March wheat futures closed 3 1/2 cents lower at $5.97. The Jan. soymeal futures settled $0.90 per short ton lower at $284.30 and January soyoil ended $0.03 lower at $50.45.

In the outside markets, the NYMEX crude oil is $2.16 per barrel lower, the dollar is higher and the Dow Jones Industrials are down 163 points.

Tim Hannagan, PFGBest.com senior grain analyst, says the traders have positioned themselves ahead of Friday's Report.

"Traders that are short the market, have the profit, and therefore hold risk going into Friday's USDA Crop Report. So, you have to expect short-covering on breaks, prior the reports release. We have seen that each day now, off the early session opening lows. Traders appear now to be flat or at least positioned for its release."

CancelPost Comment

Land 12/08/2011 @ 3:09pm I hope the idiot in Iowa that paid $20,000 a acre fails badly.

Report Abuse Reply
MORE FROM MIKE MCGINNIS more +

Soybeans Surge Higher Thursday By: 08/27/2015 @ 8:53am On Thursday, the CME Group's soybean market has jumped up double-digits to start the…

Soybeans Seen Moving Up Double-Digits… By: 08/27/2015 @ 6:12am On Wednesday, the CME Group's corn, soybean, and wheat markets are expected to start…

Soybeans Close 12¢ Lower By: 08/26/2015 @ 8:36am DES MOINES, Iowa (Agriculture.com)--After trading higher, the CME Group's corn, soybean, and…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Watch the Machinery Show
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]