All Farm Markets Close Lower
DES MOINES, Iowa (Agriculture.com)--Despite the concern over crop diseases, the pressure got to the CME Group corn, soybean and wheat markets Friday.
At the close, the Dec. corn futures finished 4 1/2 cents lower at $3.64.
Nov. soybean futures closed 4 1/2 cents lower at $10.24.
Dec. wheat futures ended 8 1/4 cents lower at $5.63.
In the outside markets, the crude oil is $1.24 per barrel higher to $95.09, the dollar is higher, and the Dow Jones Industrials are 12 points lower.
“With all the new talk of Sudden Death Syndrome in soybeans and maturity problem in the Upper Plains, the US is still going to produce a very large crop and the rise in grain prices will be limited,” says Cory Bratland, markets analyst and broker with Kluis Commodities. “We are likely to see a lot of rain for parts of Nebraska, all of Iowa, and up into Wisconsin. We will likely hear more and more reports of Sudden Death Syndrome in the soybeans in those states.”