Home / Markets / Markets Analysis / Corn market / Soybeans dive 16¢

Soybeans dive 16¢

01/29/2014 @ 9:03am

DES MOINES, Iowa (Agriculture.com)--The CME Group soybean market closes sharply lower on crop-weather and canceled sales talk. dives double-digits Wednesday.

The March corn futures contract settled 4 1/2 cents lower at $4.27. The March soybean futures contract ended 16 cents lower at $12.69. March wheat futures finished 14 cents lower at $5.51 per bushel. The March soymeal futures contract ended $5.30 per short ton lower at $423.30. The March soyoil futures finished $0.30 lower at $37.10.

In the outside markets, the NYMEX crude oil is $0.17 per barrel lower, the dollar is lower and the Dow Jones Industrials are 186 points lower.

The soybean market was doomed, due to talk of China canceling soybean orders and improved South America crop-weather, traders say.

Also, trend-following funds are chasing wheat lower, following the higher stocks number in the USDA January 10 Report.

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

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…

Corn, Wheat to Trade Higher Thursday By: 10/30/2014 @ 7:44am On Thursday, the CME Group's corn, soybean, and wheat markets are expected to start…

Soybeans Close 35¢ Higher Wednesday By: 10/29/2014 @ 9:12am DES MOINES, Iowa (Agriculture.com)—On Wednesday, the CME Group soybean complex ended on a sharp…

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