Home / Markets / Markets Analysis / Corn market / Grains Spend Week Fighting to Move Higher

Grains Spend Week Fighting to Move Higher

Updated: 07/21/2014 @ 10:31am

After heavy pressure for most of July, the farm markets have been trying to use short-covering and demand to propel higher this week.

And it looked like that was going to work – until Friday.

For the week, the soybean market has dropped 8%, while the corn market is down nearly 2%.

Although it's down hard today, the wheat market is up 1% on the week.

Midway through, the markets had fallen so much that the traders holding short positions started buying back (profit-taking) those puts. With put contracts, as the market falls, profits increase.

The Malaysian airplane tragedy has sparked more speculation about grain trade impediments for the Black Sea region. Thus, the wheat market found a bid Thursday. Those gains are being taken back to close the week.

Big U.S. soybean sales hit the wires this week. That helped stopped the bleeding of the soybean market.

For corn, the market is still eyeing demand and crop weather. Like soybeans, export sales helped curb deeper losses in this week's market.

And with the weather outlook appearing favorable, very few traders want to get caught 'long' these markets.

Hot Marketing Topics & Discussion for the Week

Todays Weather map
Published: July 18, 2014
Well since Jenny's out west teaching - OR should I say TRYING to teach guys and gals to push tin - I thought - I would jump in with the world famous ECI weather forecast - Your weather Authority for East Central Indiana Today for the most part its dry across the Important corn states Like ...

dollar short squeeze
Published: July 18, 2014
"We can expect a blistering dollar rally, perhaps akin to the early 1980s or the mid-1990s. The USD will lose reserve status someday, but not necessarily until after it has ripped the face off of folks who are short it- both directly short and more significantly in a synthetic matter (carry trades, foreign borrowing in $ terms).

CancelPost Comment

Corn Closes Slightly Higher By: 10/02/2015 @ 8:38am DES MOINES, Iowa (Agriculture.com)--On Friday, the CME Group's corn market closed slightly…

Soybeans Close 14¢ Lower By: 10/01/2015 @ 9:01am DES MOINES, Iowa (Agriculture.com)--On Thursday, the CME Group's soybean market has turned…

NASS Data Helps Wheat, Soybeans Close Higher By: 09/30/2015 @ 11:16am DES MOINES, Iowa (Agriculture.com)—The U.S. corn stocks continue to build, soybean stocks drop…

This container should display a .swf file. If not, you may need to upgrade your Flash player.
Innovative Features in the New Can-Am Defender