Home / Markets / Markets Analysis / Corn market / Grains set to open mixed to lower

Grains set to open mixed to lower

Jeff Caldwell 08/02/2011 @ 8:23am Multimedia Editor for Agriculture.com and Successful Farming magazine.

After a higher day Monday, Tuesday looks to see some correction in the corn, soybean and wheat pits in Chicago, analysts say.

Early calls for the commodities are corn 2-3 cents lower, soybeans unchanged to 2 cents lower and wheat 1-2 cents lower, according to ag market analyst and ICAP Energy derivitaves manager in Chicago, Scott Shellady.

"Crop condition numbers last night were not shocking and if anything slightly better than expected. The world woke up from the 'post deal' euphoria and sold off hard after economic figures again confirmed that our growth is slow at best. That mood will also hang over us today as we wait for final Senate approval," Shellady said Tuesday morning. "The market seems to be trying to tell us we have a story but I think that we are going to need some hard evidence soon or we risk a sell off. The private forecasters continue to lower yields but ultimately that is the government's call."

CancelPost Comment
MORE FROM JEFF CALDWELL more +

A Smartphone Without a Smartphone By: 03/03/2015 @ 3:09pm Fishing around in your coat or pants pocket for your smartphone to check the weather or markets…

Weather Ramping Up to Slow, Cool Start to… By: 03/03/2015 @ 1:41pm A slow start . . . but not too slow. Right now, that's the outlook for corn and soybean…

3 Things to Watch This Morning, Tuesday… By: 03/03/2015 @ 6:41am Turnaround Tuesday for the grains again?Soybean futures led the way down for the grains on Monday…

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]