Soybeans close slightly higher
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."