Soybeans End 23¢ Lower
DES MOINES, Iowa (Agriculture.com)--On Friday, the CME Group's soybean markets finish under heavy pressure.
At the close, the Dec. corn futures settled 4 3/4 cents lower at $3.62.
Nov. soybean futures finished 23 1/4 cents lower at $10.58.
Sep. wheat futures settled 4 cents higher at $5.34.
Dec. soymeal futures finished $6.40 per short ton lower at $342.40. The Dec. soyoil futures closed $0.69 lower at $35.71.
In the outside markets, the NYMEX Brent crude oil is $0.44 per barrel lower, the dollar is lower and the Dow Jones Industrials are 38 points lower.
Alan Brugler, Brugler Marketing & Management LLC, says the weather pressured farm markets Friday.
"Forecasts over the next 5 to 7 days for the Midwest have increased chances for moisture which may be helping to pressure the market ahead of the weekend," Brugler says. Yesterday, the market could not build a rally on solid new crop export sales this week and is leaking lower again today."
The US Dollar index is lower on the day, after rallying throughout July, Brugler says.
"The traders are watching the forecast and the USDA is in the process of collecting data and yield estimates from farmers for the August WASDE report."