Home / Markets / Markets Analysis / Corn market / Soybeans end 24¢ lower

Soybeans end 24¢ lower

09/20/2013 @ 8:59am

DES MOINES, Iowa (Agriculture.com)--The CME Group corn, soybean and wheat markets settled lower Friday.

The Dec. corn futures contract finished 8 cents lower at $4.51. The Nov. soybean futures contract settled 24 cents lower at $13.15. Dec. wheat futures ended 10 3/4 cents lower at $6.46 per bushel. The Dec. soymeal futures finished $8.80 per short ton lower at $411.60. The Dec. soyoil futures closed $0.62 lower at $42.34. 

In the outside markets, the NYMEX crude oil is $1.01 per barrel lower, the dollar is higher and the Dow Jones Industrials are 149 points lower.

Mike North, First Capital Ag senior risk advisor says soybeans lead the pack lower.  

"Specifically, soybean meal prices are breaking down domestically as new crop supplies and replenishing crusher needs.  Additionally, the forecasted rain is seen as stabilizing and potentially increasing soybean yields in the northern production areasm" North says.  

All of this helped take November soybeans through the gap that has been closely followed since it was made in August, he says.  

"Once penetrating that $13.31 ½ level, weak holders of long positions began exiting.  That has been the story today."


CancelPost Comment

09/20/2013 @ 10:06am you all are a joke,what a bunch of crap

Report Abuse Reply
MORE FROM MIKE MCGINNIS more +

Farm Markets Close Higher Wednesday By: 10/01/2014 @ 8:49am DES MOINES, Iowa (Agriculture.com)—On Wednesday, the CME Group’s corn, soybean, and wheat…

Corn, Soybean Markets Seen Weaker Wednesday By: 10/01/2014 @ 7:29am On Wednesday, the CME Group's corn, soybean, and wheat markets are expected to start…

USDA Bullish Soybean Data Trumped By: 09/30/2014 @ 10:54am As of September 1, the USDA sees the U.S. soybean and corn stocks getting tighter.In its Quarterly…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Pre-Harvest Checklist