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 +

3 Things to Watch This Morning, Monday… By: 03/02/2015 @ 6:27am Brazilian rain delays could fuel higher soybean prices today. It's been bone-dry in much of…

All Around #Classic15: Commodity Classic… By: 02/27/2015 @ 2:42pm Temperatures are about 50 to 70 degrees warmer in Phoenix, Arizona, than they are in much of corn…

From #Classic15: Comodity Group, USDA… By: 02/27/2015 @ 2:24pm Labeling is a hot topic on the consumer-facing side of the food and feed production industry. Now…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Brazilian Rain and US Planting Outlook
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]