Home / Markets / Markets Analysis / Corn market / Thursday grain trade starting lower

Thursday grain trade starting lower

Jeff Caldwell 12/29/2011 @ 7:08am Multimedia Editor for Agriculture.com and Successful Farming magazine.

Just like they led all grains higher earlier in the week, soybeans are now leading all grains lower.

Early calls for the grains are corn 2 cents lower to 2 cents higher, wheat 3-5 cents lower and soybeans 8-10 lower, according to private sources. 

In overnight trading, March corn was 1/2 cent lower at $6.43 per bushel, March wheat was 3 1/4 cents lower at $6.48 and January soybeans, leading the downturn, were 9 3/4  cents lower at 11.88 1/2, according to Barchart.com.

The deflating prices continue as profit-taking trips up the grains from sharp gains earlier in the week on the crop weather stress situation in South America. Tuesday's trade saw soybeans soar almost 37 cents per bushel by the closing bell, but since then, gains have been trimmed by profit-taking and spreading, analysts and traders say.

On top of that, there are rainfall chances in the forecast for parts of Brazil, though expected rainfall totals will fall short of an inch, one forecast says, and that's well short of what the crops need.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Drought's Assault Continues in… By: 07/24/2014 @ 9:06am Though it hasn't rained in parts of corn and soybean country in a few weeks, the drought has…

Malaysian Airliner Crash in Ukraine Sends… By: 07/17/2014 @ 2:34pm Wheat futures took off Thursday afternoon to close double-digits higher after news that officials…

Wheat Takes The Reins To Trade Sharply By: 07/17/2014 @ 1:13pm The bouncing around continues in the grain markets, with a quick, sharp turnaround in the wheat…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Soybeans Rally on Demand, Weather