Home / Markets / Markets Analysis / Corn market / Grains surge on weather worries

Grains surge on weather worries

Jeff Caldwell 12/19/2011 @ 12:56pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

Bolstered by crop-wilting weather in South America and a slower pre-holiday trading pace, the CME Group grains continue to trend higher Monday.

At mid-day, March corn is 18 cents higher at $6.01 per bushel, while January soybeans are 9 1/4 higher at $11.39 1/4 and March wheat is 15 higher at $5.98 3/4, according to Barchart.com.

Though worries about the European debt situation remains in the back of a lot of traders' minds, the news of hot, dry weather in Brazil and Argentina has stoked confidence on the Floor thus far Monday.

"Hot and dry in South America. I'm sure you all knew that already but in the interest of being on top of things I have to state the obvious. Quiet holiday week markets are also difficult sells," says ICAP Energy LLC Derivatives Manager Scott Shellady. "I am very concerned about the macro picture and the EU. I know it seems remote but we are in some fairly tentative times."

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Got the Next Big Ag Tech Idea? Take It to… By: 10/22/2014 @ 2:36pm Do you have the next big ag technology idea? Are you looking for a way to get it started toward the…

'No Major Setbacks' for Harvest… By: 10/22/2014 @ 7:49am After a few showers move through the eastern Plains and northwestern Corn Belt late this week and…

Midharvest Grain Storage Update By: 10/21/2014 @ 1:36pm What sort of shape is your corn crop in as you put it in the bin this fall? How about your…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Are We In a Climate Change?