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 +

Economic Observations & Wheat Woes: Top… By: 04/17/2015 @ 7:24am What's on your mind this week? Spring planting is getting underway, kicking off the busy…

About Corn Planting 'Go-time' for… By: 04/16/2015 @ 2:55pm It's officially go-time -- or awfully close to it -- for planters in the Corn Belt. Farmers…

The [A] List: 3 Big Things This Morning… By: 04/16/2015 @ 6:17am Mother Nature is flipping the script for the Plains and Midwest the next few days.Rainfall has been…

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

FREE MEMBERSHIP!

CLOSE [X]