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Corn, soybeans remain higher

11/21/2013 @ 8:48am

DES MOINES, Iowa (Agriculture.com)--Stronger demand has helped the CME Group corn, soybean and wheat markets push higher Thursday.

At mid-session, the Dec. corn futures contract is trading 6 cents higher at $4.23. The Jan. soybean futures contract is trading 9 1/2 cents higher at $12.83. Dec. wheat futures are 1 3/4 cents higher at $6.49 per bushel. The Dec. soymeal futures contract is trading $1.60 per short ton lower at $405.40. The Dec. soyoil futures are trading $1.18 higher at $41.50.

In the outside markets, the NYMEX crude oil is $1.32 per barrel higher, the dollar is lower and the Dow Jones Industrials are 98 points higher.

On Thursday, the USDA released its Weekly Export Sales Report, showing a greater demand than expected for soybeans.

Corn sales totaled 982,700 tons vs. the trade's expectations of 400,000 to 1,100,000 metric tons.

USDA pegged the U.S. soybean sales at 1.38 mill. tons, vs. the trade's expectations of 500,000 to 900,000 metric tons.

For wheat, exports totaled 618,000 tons, vs. the trade's expectations of 300,000 to 550,000 metric tons.

 

 

 


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