Home / Markets / Markets Analysis / Corn market / Traders trim early gains, even positions

Traders trim early gains, even positions

Jeff Caldwell 07/13/2012 @ 10:38am Multimedia Editor for Agriculture.com and Successful Farming magazine.

Early gains have been trimmed as traders look to even positions heading into the weekend.

Nearby corn futures are trading 3 1/4 higher at $7.35 1/2, while nearby soybeans are 17 1/2 higher at $15.46 1/2 and wheat is 3 higher at $8.49 3/4.

Despite the turn lower in mid-session trading Friday, there's little reason to believe the bulls are out of the market. In fact, Agriculture.com Market Analyst and floor trader Scott Shellady says the market is starting to characterize this year's drought among the worst to hit the Corn Belt.

"Here comes the heat and I am now finally starting to hear some very seasoned traders say that this could actually be the one we talk about for the next 20 years similarly to 1988," Shellady said Friday.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Q&A: The Man Behind the Next Green… By: 04/01/2015 @ 11:04am A huge portion of the world's human population derives much of its nutrition from beans. The…

3 Things to Watch This Morning, Wednesday… By: 04/01/2015 @ 6:28am Prices bounce back after Tuesday's USDA reports.USDA threw farmers a curveball on Tuesday with…

Grain Stocks, Acreage Reports Send Corn… By: 03/31/2015 @ 11:06am Farmers in the U.S. will plant 89.2 million acres of corn this spring, down 2% from last year…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Planter tips: Pneumatic seed meters
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]