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 +

Planting Date, Yield Implications & What… By: 05/22/2015 @ 2:22pm Most of this year's corn crop is planted. But, the remaining acres may not be the easiest to…

Weekend Market Volatility, Planting Nerves:… By: 05/22/2015 @ 1:13pm Long Weekend Can Mean Market VolatilityAfter several corn and soybean contracts mad new lows this…

The [A] List: 3 Big Things This Morning… By: 05/22/2015 @ 6:22am Wheat's leading the way headed into Friday's trade.Though there are some technical…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Weather Update - Late May, Early June
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]