Home / Markets / Markets Analysis / Corn market / Grains slump on exports, debt worries

Grains slump on exports, debt worries

Jeff Caldwell 11/17/2011 @ 10:25am Multimedia Editor for Agriculture.com and Successful Farming magazine.

The tumble continues: Corn, soybean and wheat futures are all trading lower in early trading Thursday.

December corn futures are 15 3/4 cents lower at $6.27 per bushel, while January soybeans are 9 1/4 cents lower at $11.78 1/2 and December wheat is 12 1/2 lower at $6.04 1/4 per bushel, according to Barchart.com.

With the exception of news Thursday morning of poorer-than-expected corn export performance, the grain markets -- like other trades -- remains focused on macroeconomic worries about how the European debt crisis will be resolved, according to ICAP Energy LLC Derivatives Manager Scott Shellady.

"I think that a lot of this has to do with the reactionary global economic environment that we are in. Until we start to see some traction in the markets that is not solely news driven we will continue to see big up day and big down days without any real trend," Shellady said Thursday morning. "When we start to see real resolutions out of Europe then I think we can start to focus on individual markets and their macros instead of linking everything to what is happening elsewhere."

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Corn Planting Slumps Forward -- USDA By: 04/22/2014 @ 8:13am Corn planting remains behind the normal pace, though a weather window may be opening this week to…

Drought Cuts Southern California Water… By: 04/21/2014 @ 2:53pm The drought is bad in the nation's center. Crops are hurting, and there's a lot of…

Cultivation Corridor Is Iowa's Ag… By: 04/21/2014 @ 11:32am California has Silicon Valley. Now, Iowa has the Cultivation Corridor.Referring to the ag- and…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Farm Bill 2014 Timeline