Home / Markets / Markets Analysis / Corn market / Wet weather drops grain prices

Wet weather drops grain prices

01/13/2012 @ 9:45am

The CME Group corn, soybean and wheat markets closed lower Friday.

The March corn futures closed 6 cents lower at $6.05 1/2. The March soybean contract opened 6 cents lower at $11.76 1/4. The March wheat futures opened 5 1/4 cents lower at $5.99 3/4. The March soymeal futures opened $2.10 per short ton lower at $305.00. The March soyoil futures opened $0.48 lower at $50.97. 

In the outside markets, the NYMEX crude oil is $1.18 per barrel lower, the dollar is higher and the Dow Jones Industrials are down 135 points.

The Friday market continued to react to the negative USDA Crop Production and Supply/Demand Reports from Thursday.

In Addition, wetter forecasts for South America's dry crops pressured the grain markets Friday, according to traders.


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Open 4¢ Higher Tuesday By: 09/02/2014 @ 8:37am DES MOINES, Iowa (Agriculture.com)--On Tuesday, the CME Group's corn, soybean and wheat…

Corn, Soybeans Seen Starting Higher Tuesday By: 09/02/2014 @ 8:01am On Tuesday, the CME Group's corn, soybean, and wheat markets are expected to start…

All Farm Markets Close Lower By: 08/29/2014 @ 8:44am DES MOINES, Iowa (Agriculture.com)--Despite the concern over crop diseases, the pressure got to the…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Holiday Profit Taking Pressures Markets