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, Wednesday… By: 11/26/2014 @ 7:39am Pre- and post-holiday market volatility. Watch for market volatility the remainder of the week in…

What About a One-Year Fixed Cash Land Lease? By: 11/25/2014 @ 12:08pm Don't want to lock into a multiyear fixed cash land lease, but don't want to commit to…

Get Ready For Your Next Iron Auction By: 11/25/2014 @ 9:19am Heading to a machinery auction soon? Don't go in unprepared! Used equipment prices have…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cool Tools Christmas Edition: Part 2