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Soybeans finish 8¢ higher

Updated: 10/30/2013 @ 1:57pm

DES MOINES, Iowa (Agriculture.com)--On Wednesday, the CME Group soybean market ended higher, corn slightly lower.

The Dec. corn futures contract closed 1 3/4 cents lower at $4.30. The Nov. soybean futures contract settled 8 1/2  cents higher at $12.87. Dec. wheat futures settled 6 cents lower at $6.75 per bushel. The Dec. soymeal futures contract closed 1.00 per short ton higher at $411.80. The Dec. soyoil futures ended $0.65 higher at $41.62. 

In the outside markets, the NYMEX crude oil is $1.41 per barrel lower, the dollar is higher and the Dow Jones Industrials are 82 points lower.

Tim Hannagan, Walsh Trading Inc. analyst says the corn market gains are being capped.

"It's hard for corn to hold rallies, as trader mindset is to be short into the Nov. 8 crop report. But Thursday's export sales report should be bullish, giving us a higher close today on beans."

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