Home / Markets / Markets Analysis / Corn market / Grains higher despite bearish pressures

Grains higher despite bearish pressures

Jeff Caldwell 12/30/2011 @ 11:21am Multimedia Editor for Agriculture.com and Successful Farming magazine.

The grains look like they're heading out of 2011 on a higher note, with higher prices in all pits at mid-day.

March corn's 6 3/4 cents higher at $6.44 3/4 per bushel, January soybeans are 13 1/2 higher at $12.01 and March wheat's 7 cents higher at $6.52 1/4, according to Barchart.com.

Prices remain buoyed by crop-stressing weather in South America as well as year-end positioning on the CME Group floor, market-watchers say. The upward move comes despite a lower U.S. Dollar Index and just slightly bullish export sales numbers for soybeans and wheat, but neutral to bearish numbers for corn.

"Soybeans will start closing the gap now and it appears it has started. Again, there is talk that corn exports will have to be adjusted up given the S.A. situation," says Agriculture.com Marketing Talk senior contributor Mizzou_Tiger.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Malaysian Airliner Crash in Ukraine Sends… By: 07/17/2014 @ 2:34pm Wheat futures took off Thursday afternoon to close double-digits higher after news that officials…

Wheat Takes The Reins To Trade Sharply By: 07/17/2014 @ 1:13pm The bouncing around continues in the grain markets, with a quick, sharp turnaround in the wheat…

Corn Slips Despite Strong Export Sales Data By: 07/17/2014 @ 10:27am Soybean futures are in the black while corn and wheat have both moved into the red as near-perfect…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Weather Pounds Farm Markets