Home / Markets / Markets Analysis / Soybeans market / China fears send grains sharply lower Tuesday

China fears send grains sharply lower Tuesday

Jeff Caldwell 11/16/2010 @ 2:03pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

It was a tough day in the CME Group corn, soybean and wheat pits.

At the close, the December 2010 corn futures contract was 29 cents lower at $5.26 1/2 per bushel, while January soybeans were 66 3/4 cents lower at $12.19 3/4, according to Barchart.com. December wheat ended the day 46 1/2 cents lower at $6.26 1/4 per bushel.

Fears that China is going to raise interest rates fueled Tuesday's sell-off in the grains, a move that some analysts say could affect how much Chinese buyers might pay for grain in the future. Currently, China accounts for almost 2/3 of all U.S. soybeans sold on the export market, according to a report from Dow Jones Newswires.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Hot Topic: El Niño's Back Stronger… By: 05/27/2015 @ 11:08am The talk around much of the Corn Belt and Plains the last couple of weeks has been Mother…

The [A] List: 3 Big Things This Morning… By: 05/27/2015 @ 6:16am 'Counter-seasonal' trends keeping prices mixed this morning.Tuesday saw a post-holiday…

Corn Planting at 92%, Soybeans at 61% as… By: 05/26/2015 @ 3:25pm There's roughly 6 or 7 million acres yet to plant around the U.S. remaining as of the…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
The 'A' List: Inverse Grain Market Trends and Wheat Trouble
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]