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Soybeans finish lower

04/03/2012 @ 9:57am

DES MOINES, Iowa (Agriculture.com)--After hitting a 7-month high, the CME Group soybean market suffered from profit-taking ending lower Tuesday.

The July corn futures settled 2 cents higher at $6.53. While the May soybean contract reached a 7-month high on falling Argentine crop estimates, the July soybean contract closed 6 cents lower at $14.21 1/4. The July wheat futures ended 1/2 of a cent lower at $6.69. The July soymeal futures closed $5.00 per short ton lower at $387.90. The July soyoil futures ended $0.28 lower at $56.29. 
In the outside markets, the NYMEX crude oil is $1.13 per barrel lower, the dollar is higher and the Dow Jones Industrials are down 90 points.


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