Home / Markets / Markets Analysis / Corn market / Grains ride weather, USDA higher

Grains ride weather, USDA higher

Jeff Caldwell 07/11/2012 @ 8:22am Multimedia Editor for Agriculture.com and Successful Farming magazine.

Reports that were generally thought to be bullish corn and neutral wheat and soybeans have ushered in higher prices in all 3 pits as many trader and analysts say the focus has returned to Mother Nature.

In early trading, July corn is 16 1/2 cents higher at $7.77 1/2 per bushel, while the September contract is 19 cents higher at $7.37 1/2 and the December contract, also 19 cents higher, is at $7.36 1/2.

July soybeans are trading 22 3/4 cents higher at $16.71 1/2 per bushel, while the August contract is 29 1/4 cents higher at $16.19 3/4 and the September contract is $32 3/4 higher at $15.90 1/2.

Wheat's following the leader, almost mirroring corn's gains; July wheat was 12 1/2 cents higher at $8.17 1/4, while the September contract is 17 1/2 higher at $8.38 1/2 and the December contract is 16 1/2 higher at $8.51 3/4.

The grains' gains come on the heels of USDA's monthly WASDE and Crop Production reports Wednesday morning that slashed projected corn yields, but also trimmed export and feed usage. Though the numbers were seen as bullish only corn and more neutral for soybeans and wheat, analysts and traders say the trade's focus will quickly return to the drought in the nation's midsection and South.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Planting Weather Window Flying Open After… By: 04/24/2015 @ 12:42pm The weekend looks to be a wet, cool one in much of the Corn Belt, but by the beginning of next…

The [A] List: 3 Big Things This Morning… By: 04/24/2015 @ 6:29am Conflicting market factors weighing on the grains this morning.In the corn trade, the bird flu…

Tech Company Offers 'Diary For Future… By: 04/23/2015 @ 2:27pm Have you ever searched for a home on the Internet? The collection of data on vacant real estate…

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

FREE MEMBERSHIP!

CLOSE [X]