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Soybeans Close 21¢ Higher

06/26/2014 @ 8:44am

DES MOINES, Iowa (Agriculture.com)--For Thursday, the CME Group corn, soybean and wheat markets close higher.

At the close, the Sep corn futures contract is trading 3 cents higher at $4.38. The Dec. corn futures are trading 4 cents higher at $4.44.

The July soybean futures contract is 14 1/2 cents higher at $14.30.

The Nov. soybean futures are trading 8 3/4 cents higher at $12.37.

Sep wheat futures are 3/4 of a cent higher at $5.85.

The Aug. soymeal futures contract is trading $4.20 per short ton higher at $441.20. The Aug. soyoil futures are trading $0.01 lower at $40.75.

In the outside markets, the NYMEX Brent crude oil is $1.23 per barrel lower, the dollar is higher and the Dow Jones Industrials are 74 points lower.

On Thursday, the USDA released its Weekly Export Sales Report. Most commodities beat expectations.

Wheat sales were estimated at 359,500 metric tons vs. the trade's expectations of 300,000 to 455,000 metric tons. Corn sales totaled 553,500 mt vs. the trade's expectations of 125,000 to 450,000 metric tons. For soybeans, the USDA stated weekly sales at 774,900 vs. the trade's expectations of (100,000) to 100,000 metric tons. And soybean meal sales came in at 253,400 mt vs. the trade's expectations of 0 to 180,000 metric tons.

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