Home / Markets / Markets Analysis / Corn market / Grains remain pressured

Grains remain pressured

Updated: 08/22/2013 @ 11:24am

DES MOINES, Iowa (Agriculture.com)--Improved moisture in parts of the Corn Belt has sparked some profit-taking, pressuring the CME Group corn, soybean and wheat markets Thursday.

At mid-session, the Sep. corn futures are 5 cents lower at $4.93 per bushel. The Dec. corn futures contract is trading 12 cents lower at $4.71. The Sep. soybean futures contract is trading 3 cents higher at $13.36, new-crop Nov. soybeans are trading 3 cents lower at $13.01. Dec. wheat futures are trading 5 cents lower at $6.43 per bushel. 

In the outside markets, the NYMEX crude oil is $0.04 per barrel higher, the dollar is lower and the Dow Jones Industrials are 66 points higher.

Ken Smithmier, The Hightower Report ablest, says that better-than-expected rainfall in the northern tier of the Corn Belt triggered some profit taking and lower trade in corn today. 

"The forecast into next week remains warm and dry which will keep the downside limited. December corn futures are likely to trade in a wide range until the market has a better handle on the broader production outlook although market fundamentals and sentiment lean bearish," he says.


Discuss the corn, soybean, and wheat markets in Marketing Talk.


CancelPost Comment

08/22/2013 @ 3:16pm oh halleluiah some rain the drought is over the crops are saved,oh wait its to late if you had any farm experience you would know that,idiots. kinda ironic a certain someone is back this week and prices are going down.

Report Abuse Reply
MORE FROM MIKE MCGINNIS more +

Video: Early Harvest Weather Could Delay… By: 09/04/2015 @ 12:50pm Combines have been rolling this week in the southern portion of Corn Belt states. However Dan…

Corn, Wheat End Higher Friday By: 09/04/2015 @ 8:47am DES MOINES, Iowa (Agriculture.com)—As the farm markets consider the long Memorial Day weekend…

Wheat Ends 13¢ Lower By: 09/03/2015 @ 9:08am DES MOINES, Iowa (Agriculture.com)--On Thursday, the CME Group's corn, soybean, and wheat…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Freese-Notis Early Harvest Weather Outlook
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]