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Soybeans close slightly higher

04/04/2012 @ 9:47am

DES MOINES, Iowa (Agriculture.com)--The CME Group grain markets closed lower, while soybeans finished slightly higher Wednesday.

The July corn futures settled 2 1/4 cents lower at $6.50 3/4. The July soybean contract closed 2 1/2 cents higher at $14.23 3/4. The July wheat futures closed 19 1/4 cents lower at $6.49 3/4. The July soymeal futures closed $1.10 per short ton higher at $389.00. The July soyoil futures closed $0.14 higher at $56.43. 
In the outside markets, the NYMEX crude oil is $1.95 per barrel lower, the dollar is higher and the Dow Jones Industrials are down 126 points.

Tim Hannagan, PFGBest.com senior grain analyst, says the corn markets looking ahead to a short week.

"Corn is reluctant to take out the major resistance on the charts at 6.68 with a three day holiday coming and crude oil and other outside markets down sharply. Beans opened 9 lower but surging overseas vegetable crops  have beans up on the day on thinking bean oil prices  are going higher." 


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