Home / Markets / Markets Analysis / Soybeans market / Grains open Wednesday mixed

Grains open Wednesday mixed

Jeff Caldwell 04/11/2012 @ 10:00am Multimedia Editor for Agriculture.com and Successful Farming magazine.

The grains are off to a mixed start Wednesday, with corn and wheat trading slightly higher and soybeans dipping just into the red.

In early trading, nearby corn futures are 3 1/4 cents higher at $6.38 per bushel, nearby soybeans are 1/2 cent lower at $14.25 1/2 and nearby wheat's 4 cents higher at $6.29 3/4, according to Barchart.com.

There are some bullish factors lining up for the grains, but there "does not seem to be a real sense of urgency in a bull run," says ICAP Energy LLC Derivatives Manager Scott Shellady.

"News this morning that Chinese interest in U.S. grain after stocks dwindled has helped prop the market up. When you look at the charts, we are also coming into the same support levels that have held the market up since February for both corn and wheat," Shellady said Wednesday morning. "Soybeans continue to move higher and I look for that trend to continue."


CancelPost Comment
MORE FROM JEFF CALDWELL more +

Corn, Soybean Conditions Slip Slightly;… By: 07/28/2014 @ 3:34pm The U.S. corn and soybean crops are developing at a pace ahead of normal despite the fact the last…

Exports Fuel Soybean Price Blowup Monday By: 07/28/2014 @ 2:52pm Corn and soybeans surged to higher closing prices Monday, led by a soybean pit that was sharply…

Weather Starter: Corn Belt Dryness Continues By: 07/28/2014 @ 9:53am The week's starting out a dry one -- and likely will end on that note, too -- though while…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Scott Shellady: Options 101