Home / Markets / Markets Analysis / Corn market / Weak export data sinks corn, soybeans

Weak export data sinks corn, soybeans

Jeff Caldwell 12/01/2011 @ 12:34pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

Demand's in the driver's seat for Thursday's grain trade, and at mid-day, it's driving corn and soybean futures lower.

At mid-day, March corn was 8 1/4 cents lower at $5.93 per bushel, while January soybeans were 13 cents lower at $11.18 1/4. March wheat was the lone grain on the positive site, trading 3 cents higher at $5.98 3/4, according to Barchart.com.

Lower-than-anticipated export sales released by USDA Thursday morning more than offset bullish sentiment spilling over from the last 2 days of higher trading, traders say. Add to that a favorable crop progress picture in South America, the largest competitor for U.S. soybeans on the world market, and it amounts to a lot of pressure on the grains.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

3 Things to Watch This Morning, Monday… By: 03/02/2015 @ 6:27am Brazilian rain delays could fuel higher soybean prices today. It's been bone-dry in much of…

All Around #Classic15: Commodity Classic… By: 02/27/2015 @ 2:42pm Temperatures are about 50 to 70 degrees warmer in Phoenix, Arizona, than they are in much of corn…

From #Classic15: Comodity Group, USDA… By: 02/27/2015 @ 2:24pm Labeling is a hot topic on the consumer-facing side of the food and feed production industry. Now…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Brazilian Rain and US Planting Outlook
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]