Home / Markets / Markets Analysis / Soybeans market / Grains look to surge into Wednesday

Grains look to surge into Wednesday

Jeff Caldwell 10/31/2012 @ 6:59am Multimedia Editor for Agriculture.com and Successful Farming magazine.

Tuesday's stronger prices look to continue into Wednesday's trade after an overnight session that saw the bulls run the show.

Early calls for the grains are corn 4 to 6 cents higher, soybeans 9 to 12 cents higher, and wheat 8 to 11 cents higher.

As of 6:25 a.m. CST, the December corn futures contract was 4 1/4 cents higher at $7.46 per bushel, November soybeans were 10 1/4 cents higher at $15.46 3/4, and December wheat was 9 1/2 cents higher at $8.86 1/4, according to Barchart.com.

There's likely to be some outside influence on the grains after the stocks and equities trading has been absent from the equation, with the Hurricane Sandy-induced closure of the New York Stock Exchange Monday and Tuesday. That floor reopens Wednesday morning. 

"I think it will busy. [Today] is end of month. Friday is nonfarm payrolls," says Scott Shellady, Trean Group options specialist and trader and Agriculture.com market analyst. "Election next Tuesday... Lots of positioning needs to take place. Two days of trading needs to get caught up... I think equities open lower."

CancelPost Comment
MORE FROM JEFF CALDWELL more +

'HMO' labels in the future? By: 10/30/2014 @ 12:52pm Growing crops will not always take place in open fields. There's a growing number of companies…

The Farmer's Holiday Gift-Buying Guide… By: 10/30/2014 @ 9:54am The holiday season is on its way. Why wait until the last minute to get your gift shopping done? If…

Midweek Weather Hits: Mostly Dry Now, Cooler… By: 10/29/2014 @ 9:24am With the exception of a few showers in parts of the region -- some of which added up to an inch of…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Looking Out for Soybean Cyst Nematodes