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, Wednesday… By: 11/26/2014 @ 7:39am Pre- and post-holiday market volatility. Watch for market volatility the remainder of the week in…

What About a One-Year Fixed Cash Land Lease? By: 11/25/2014 @ 12:08pm Don't want to lock into a multiyear fixed cash land lease, but don't want to commit to…

Get Ready For Your Next Iron Auction By: 11/25/2014 @ 9:19am Heading to a machinery auction soon? Don't go in unprepared! Used equipment prices have…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cool Tools Christmas Edition: Part 2