Grains, Soybeans Scoot Up; Dow Up, Too
DES MOINES, Iowa (Agriculture.com) -- Futures held strong and scooted up through the day, ending the day with all prices higher to close out the market.
At the open, the December corn futures are trading 1 1/2 cents higher at $3.69.
November soybean futures are trading 1/4 cent higher at $10.38 1/4.
December wheat futures are 5 1/2 cents higher at $5.55 1/2.
All eyes are on the crop tours scouting the high potential of corn this week.
“The USDA will have a tough time raising corn yields higher than 170 bushels per acre as the corn acres north of I-80 continue to be behind on maturity and will need a later-than-normal frost,” says Cory Bratland, markets analyst and broker with Kluis Commodities. “There is a high probability the Dakotas and Minnesota will lose yield due to a killing frost before October 1.”
In the outside markets, the crude oil is $.49 per barrel higher at $93.99, the dollar is lower by .0023, and the Dow Jones Industrials are 85.62 points higher to close at 17,064.75; the S&P 500 furthered its record climb to end the day.