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Soybean, Wheat Prices Close Higher

07/31/2014 @ 8:35am

DES MOINES, Iowa (Agriculture.com)-- The CME Group soybean and wheat markets end higher, corn lower Thursday.

At the close, the Dec. corn futures settled 4 1/2 cents lower at $3.67.

Nov. soybean futures ended 3/4 of a cent higher at $10.82.

Sep. wheat futures settled 3 cents higher at $5.30.

December soymeal futures closed $0.20 higher at $348.80. The Dec. soyoil futures settled $0.01 higher at $36.40.

In the outside markets, the NYMEX Brent crude oil is $1.56 per barrel lower, the dollar is higher and the Dow Jones Industrials are 250 points lower.Helen Pound, KCG Futures senior futures market specialist, says the markets are trading in a narrow range, with the news in the 'as expected' category.

"Weekly export sales were friendly, but having little impact. Argenina's debt default should make it harder for Argentina to secure funding to support their weak economy in the international market," Pound told customers in a daily note.

Pound adds, "US Midwest weather forecast still calls for moderate temperatures with little rain the balance of the week before rainfall chances improve beginning Sunday." 

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