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 +

USDA Extends ARC, PLC Selection Deadline By: 03/27/2015 @ 12:00pm If you're stressing to meet next week's deadline for selecting the federal crop insurance…

The Latest 'Successful Land Sales' By: 03/27/2015 @ 10:52am With crop prices continuing to stay at or below profitable levels, a lot of farmers are talking…

3 Things to Watch This Morning, Friday… By: 03/27/2015 @ 6:37am Wheat, pre-USDA report positioning leading grains Friday.Corn and soybean futures are lower while…

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

FREE MEMBERSHIP!

CLOSE [X]