Home / Markets / Markets Analysis / Corn market / Markets close lower Monday

Markets close lower Monday

Updated: 05/02/2011 @ 2:12pm

CHICAGO, Illinois (Agriculture.com)--Index funds used Monday's trade to rebalance some positions. Thus, the profit-taking pressured the CME Group grain and soybean markets.

The July corn futures settled 22 cents lower at $7.34 1/2. The July soybean contract closed 1 cent lower at $13.93. The July wheat futures settled 9 1/2 cents lower at $7.91 3/4. The July soybean meal futures closed $1.30 per short ton lower at $362.30. The July soyoil futures ended $0.02 higher at $58.60.

In the outside markets, the NYMEX crude oil is $0.49 per barrel lower, the dollar is lower and the Dow Jones Industrials are down 8 points.

Rich Feltes, RJ O'Brien market research specialist, says to not read too much into Monday's trade action. "It's a risk-off day for the funds, Asia/EU investors are on holiday. So, I caution against reading too much into today's action," Feltes says. "The market has not addressed cool weather in May, which will further delay development."


CancelPost Comment

Wheat Closes Up 10¢, Corn 4¢ By: 10/06/2015 @ 8:46am DES MOINES, Iowa (Agriculture.com)--On Tuesday, the CME Group's corn, soybean, and wheat…

USDA: U.S. Soybeans Nearly Half Harvested By: 10/05/2015 @ 4:09pm DES MOINES, Iowa (Agriculture.com)--On Monday, the USDA pegged the U.S. corn crop condition rating…

Soybeans End 10¢ Higher Monday By: 10/05/2015 @ 8:49am DES MOINES, Iowa (Agriculture.com)--On Monday, the CME Group's soybean market rallie to a…

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