Home / Markets / Markets Analysis / Corn market / Soybeans finish higher, corn lower

Soybeans finish higher, corn lower

01/17/2014 @ 5:52am

DES MOINES, Iowa (Agriculture.com)--The CME Group soybean market closed slightly higher, corn and wheat lower Friday.

At the close, the March corn futures contract closed 4 cents lower at $4.24. The March soybean futures contract closed 1 1/2 cents higher at $13.16. March wheat futures ended 9 1/4 cents lower at $5.63 per bushel. The March soymeal futures contract finished $2.50 per short ton higher at $434.50. The March soyoil futures settled $0.31 lower at $37.74.
In the outside markets, the Brent crude oil is $0.61 per barrel higher, the dollar is higher and the Dow Jones Industrials are 27 points higher.

Mike North, Senior Risk Advisor for First Capitol Ag, says that the soybean market is the market everyone is watching. "Recent technical resistance was met at $13.30 in the March contract. And $13.00 serves as psychological support.  Expect trade to battle back-and-forth between those two levels.  Corn is quietly walking through the same range that confined it prior to the Jan USDA report.  Winter markets can often be like this," he says.


Discuss the corn, soybean and wheat markets in Marketing Talk.

CancelPost Comment

01/17/2014 @ 8:28am you should put the real factors driving the calls are the morons of the cbot

Report Abuse Reply
MORE FROM MIKE MCGINNIS more +

Profit-taking Sinks Soybeans, Corn By: 10/24/2014 @ 8:57am DES MOINES, Iowa (Agriculture.com)—With the CME Group’s corn, soybean and wheat markets turning…

Soybeans Close 20¢ Higher Tuesday By: 10/21/2014 @ 8:39am DES MOINES, Iowa (Agriculture.com)—Slow harvest pace and buyers’ participation have underpinned…

Harvest Pressure Sinks Soybeans By: 10/20/2014 @ 8:50am DES MOINES, Iowa (Agriculture.com)— The CME Group’s corn, soybean, and wheat markets finished…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Are We In a Climate Change?