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 +

3 Things to Watch This Morning, Friday… By: 03/06/2015 @ 6:34am Grains lower heading into Friday's session.Though corn traded higher during much of the…

3 Things to Watch This Morning, Thursday… By: 03/05/2015 @ 6:21am Watch the funds and the dollar Thursday and beyond. The markets have stabilized after…

Massive Canal Project Seeks to Streamline… By: 03/04/2015 @ 2:49pm It's been referred to as the largest construction project in the history of mankind, and it…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Planter tips: Parallel linkage
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]