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 +

Planting Date, Yield Implications & What… By: 05/22/2015 @ 2:22pm Most of this year's corn crop is planted. But, the remaining acres may not be the easiest to…

Weekend Market Volatility, Planting Nerves:… By: 05/22/2015 @ 1:13pm Long Weekend Can Mean Market VolatilityAfter several corn and soybean contracts mad new lows this…

The [A] List: 3 Big Things This Morning… By: 05/22/2015 @ 6:22am Wheat's leading the way headed into Friday's trade.Though there are some technical…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Weather Update - Late May, Early June
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]