Home / Markets / Markets Analysis / Soybeans market / Grains sink in defensive Monday session

Grains sink in defensive Monday session

Jeff Caldwell 01/30/2012 @ 2:19pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

The grains ended Monday just like they started.

March soybeans led the slide, finishing the day 33 3/4 cents lower at $11.85 1/4 per bushel, according to Barchart.com. March wheat was 2 1/2 lower at $6.44 3/4 and March corn was 10 cents lower at $6.31 3/4.

Weekend rainfall in South America yanked out the risk premium built into the grains over the last 2 weeks, with broad-based selling of soybeans, analysts say. That's on top of a stronger U.S. Dollar Index Monday on anxieties surrounding the EU debt situation.

Despite Monday's main grain market story being the rainfall in South America, the rains that did fall (and more expected later this week) may be too little too late, crop-watchers say.

Adds Cargill senior grain merchandiser Ray Jenkins on Monday's trade: "I think the market is telling us the rains came in time to preserve most of the soybean crop, but not in time to keep from seeing losses in the Argentine corn crop."

CancelPost Comment
MORE FROM JEFF CALDWELL more +

3 Things to Watch This Morning, Friday… By: 01/30/2015 @ 6:35am Grains seen 'quietly' moving higher Friday. The overnight session saw the grain markets…

3 Things to Watch This Morning, Thursday… By: 01/29/2015 @ 6:18am Another day, another set of market factors hitting the grains. The grain markets are lower heading…

Farm Operating Loans on the Rise -- Fed By: 01/28/2015 @ 2:50pm The switch has been flipped.A couple of years ago, farm lending for big-ticket purchases -- fueled…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Grains 'Quietly Higher' - 3 Things
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]