Home / Markets / Markets Analysis / Soybeans market / Grains close lower on harvest, farmer selling

Grains close lower on harvest, farmer selling

Jeff Caldwell 10/18/2010 @ 2:47pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

Quick harvest progress, farmer selling and a lack of "fresh supportive news" sent the CME Group grains to a lower close Monday afternoon.

At the close, December 2010 corn futures were 5 3/4 cents lower at $5.61 per bushel, while November soybeans were 1 cent lower at $11.84, according to private sources. December CME wheat closed the day 14 1/2 cents lower at $6.90 per bushel.

Analysts say the corn market has "run out of momentum" as this week starts, but that's only temporary, according to a Dow Jones Newswires report. The setback -- fueled also by a lot of farmer selling in the last 10 days' sharp upward moves -- will likely be short-lived, analysts say. That's mainly because the export demand that's backed much of the recent runup doesn't look to abate anytime soon.




CancelPost Comment
MORE FROM JEFF CALDWELL more +

Malaysian Airliner Crash in Ukraine Sends… By: 07/17/2014 @ 2:34pm Wheat futures took off Thursday afternoon to close double-digits higher after news that officials…

Wheat Takes The Reins To Trade Sharply By: 07/17/2014 @ 1:13pm The bouncing around continues in the grain markets, with a quick, sharp turnaround in the wheat…

Corn Slips Despite Strong Export Sales Data By: 07/17/2014 @ 10:27am Soybean futures are in the black while corn and wheat have both moved into the red as near-perfect…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Soybeans Rally on Demand, Weather