Home / Markets / Markets Analysis / Corn market / Mid-session prices remain mixed

Mid-session prices remain mixed

02/04/2011 @ 11:33am

CHICAGO, Illinois (Agriculture.com)--At mid-session, the CME Group grain markets remain in a choppy trade mode Friday.

At mid-session, the March corn futures are 3 3/4 cents higher at $6.66 1/4. The March soybean contract is 4 1/4 cents lower at $14.31 1/4.  The March wheat futures is 4 1/4 cents lower at $8.54 3/4. March soybean meal futures are $1.70 lower per short ton at $384.70. The March soyoil futures are $0.26 lower at $58.52.

In the outside markets, the NYMEX crude oil is $1.86 per barrel lower, the dollar is higher, and the Dow Jones Industrials are down 12 points.

Tim Hannagan, PFGBest.com senior grain analyst, says the two-sided trading prevails Friday. "Corn and beans saw two-sided trade early as more profit-taking set in after the contract highs Wednesday and ahead of the weekend. But, there's buying under the market in anticipation of bullish news next week. One, the coldest temperatures of the year enter mid-week and that means more soymeal and corn needed for cattle feed to keep their weights up. Two, traders fear a bullish crop report by the U.S.D.A. next Wednesday. This will keep breaks to a minimum."

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Close Day, Month On A Rally By: 10/31/2014 @ 8:53am DES MOINES, Iowa (Agriculture.com)—A buying frenzy, at the close Friday, pushed up the CME Group…

Lower Farm Markets Seen For Friday By: 10/31/2014 @ 8:13am On Friday, the CME Group's corn, soybean and wheat markets are expected to start…

Soybeans Close 18¢ Lower By: 10/30/2014 @ 8:47am DES MOINES, Iowa (Agriculture.com)—The CME Group farm markets close lower Thursday.At the close…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Looking Out for Soybean Cyst Nematodes