Soybeans fall sharply
DES MOINES, Iowa (Agriculture.com)--Technical factors, not fundamentals, are keeping pressure on the CME Group corn, soybean and wheat markets Thursday.
At mid-session, the July futures corn contract is 7 cents lower at $6.43. New-crop Dec. futures are trading 6 cents lower at $5.31. The July soybean futures contract is trading 31 cents lower at $15.09, new-crop Nov. soybeans are trading 22 cents lower at $12.91. July wheat futures are trading 4 cents lower at $6.78 per bushel. The July soymeal futures are trading $8.80 per short ton lower at $452.60. The July soyoil futures are trading $0.30 lower at $47.81.
In the outside markets, the NYMEX crude oil is $0.03 per barrel lower, the dollar is higher and the Dow Jones Industrials are 49 points higher.