Home / Markets / Markets Analysis / Corn market / Grains lower on U.S. Dollar index reversal

Grains lower on U.S. Dollar index reversal

Jeff Caldwell 10/18/2010 @ 11:40am Multimedia Editor for Agriculture.com and Successful Farming magazine.

The U.S. Dollar index has turned higher Monday, sending the CME Group grains lower.

At mid-day, December 2010 corn futures were 4 3/4 cents lower at $5.58 1/4 per bushel while November soybeans were $11.79 1/2, down 5 1/2 cents, according to private sources. December wheat was 11 1/2 cents lower at $6.93 per bushel.

Lower-than-expected export numbers were responsible for spillover bearish pressure on the grains moving into Monday's trade. Add to that a reversal in the U.S. Dollar index, and that pressure is growing.

"The U.S. Dollar index has reversed higher, taking the tailwind for commodities with it," says market analyst John Roach.



CancelPost Comment
MORE FROM JEFF CALDWELL more +

Drought's Assault Continues in… By: 07/24/2014 @ 9:06am Though it hasn't rained in parts of corn and soybean country in a few weeks, the drought has…

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…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Soybeans Rally on Demand, Weather