Home / Markets / Markets Analysis / Corn market / Soybeans end 28¢ lower

Soybeans end 28¢ lower

Updated: 10/28/2013 @ 3:09pm

DES MOINES, Iowa (Agriculture.com)--On Monday, the CME Group's corn market hit close to a 38-month low, while soybeans were pressured by farmer-selling.

The Dec. corn futures contract closed 9 cents lower at $4.30. The Nov. soybean futures contract settled 28 cents lower at $12.71. Dec. wheat futures ended 9 cents lower at $6.81 per bushel. The Dec. soymeal futures contract closed $8.80 per short ton lower at $414.70. The Dec. soyoil futures closed $0.37 lower at $40.36. 

In the outside markets, the NYMEX crude oil is $0.76 per barrel higher, the dollar is higher and the Dow Jones Industrials are 24 points higher.

Jack Scoville, PRICE Futures Group vice-president, says farmer selling could be hurting the soybean market.

 "It's interesting that we are so low even with the good demand.  Maybe some farmers delivered or something.  I have heard that planting progress is about normal in Brazil.  Plus the weather there is good.  And, I am longer term bearish, but not really expecting a dive like this today."

JOIN US: The Successful Farming Marketing Academy.

CancelPost Comment

EPA Raises RFS Volume Requirements By: 11/30/2015 @ 2:14pm DES MOINES, Iowa (Agriculture.com)—On Monday, the Environmental Protection Agency announced it…

Soybeans, Corn End Higher Monday By: 11/30/2015 @ 8:59am DES MOINES, Iowa (Agriculture.com)--On Monday, the CME Group's corn and soybean markets closed…

2016 Basis Prices Vary Widely Depending on… By: 11/25/2015 @ 2:24pm This marketing year, farmers who are looking to pick up a few more cents per bushel for their corn…

This container should display a .swf file. If not, you may need to upgrade your Flash player.
Successful Marketing Newsletter