Home / Markets / Markets Analysis / Corn market / Grains mixed; corn recovers

Grains mixed; corn recovers

Jeff Caldwell 08/14/2013 @ 8:19am Multimedia Editor for Agriculture.com and Successful Farming magazine.

Trading was light and mixed overnight as corn futures bounced back a bit from the bearish rampage on Tuesday as bargain-hunting buyers capitalized on the three-year closing low.

December corn is just in the black, at 3/4 cent higher ($4.48 per bushel), while nearby soybeans and wheat remain in the red, 7 1/2 lower at $12.20 1/4 and 1 cent lower at $6.40 1/2, respectively.

A more rosy outlook for crop conditions in the Corn Belt was one of the factors behind Tuesday's price slash. That may change soon, though, says Kluis Commodities analyst and broker Al Kluis.

"I think that corn crop conditions will move lower next week, unless widespread rain hits in Iowa this week," he says.

Also in play Wednesday is a report from the National Oilseed Processors Association (NOPA) today that will show domestic soybean crush numbers. Kluis says the trade expects the July crush figure to come in around 125 million bushels.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Corn, Soybean Conditions Slip Slightly;… By: 07/28/2014 @ 3:34pm The U.S. corn and soybean crops are developing at a pace ahead of normal despite the fact the last…

Exports Fuel Soybean Price Blowup Monday By: 07/28/2014 @ 2:52pm Corn and soybeans surged to higher closing prices Monday, led by a soybean pit that was sharply…

Weather Starter: Corn Belt Dryness Continues By: 07/28/2014 @ 9:53am The week's starting out a dry one -- and likely will end on that note, too -- though while…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Scott Shellady: Options 101