Home / Markets / Markets Analysis / Wheat market / Grain futures surging into Monday

Grain futures surging into Monday

Jeff Caldwell 12/03/2012 @ 6:13am Multimedia Editor for Agriculture.com and Successful Farming magazine.

The grain markets are expected to start out the week on a bullish note, underpinned by crop weather concerns and corresponding market strength from South America to eastern Europe.

Early calls for the grain markets are corn 5 to 7 higher, soybeans 12 to 14 higher, and wheat 9 to 11 higher, according to private sources.

As of 5:49 AM CST Monday, the March corn futures contract was 7 1/2 cents higher at $7.60 1/4 per bushel, while January soybeans were 16 1/4 higher at $14.55, and March wheat was 9 cents higher at $8.72 1/2.

The surge in prices comes as concerns grow on several different weather fronts; analysts say there's growing worry about poor weather for wheat stand establishment in Russia, and concerns remain about South American crop weather, where rain's been slowing wheat harvest and corn and soybean planting. Meanwhile, technical buying has the soybean trade in China rising Monday, and that's likely to continue as end-users there rush to build inventory for the coming winter months, one report shows.

CancelPost Comment
MORE FROM JEFF CALDWELL more +

Dry Getting Drier, Wet Getting Wetter --… By: 04/17/2014 @ 8:37am Rain and snow last weekend and early this week was enough to put a dent in the general drought…

Soybeans blast off on strong processing data By: 04/15/2014 @ 3:27pm Soybean futures topped out Tuesday above $15/bushel for the first time in quite a while on news…

Farm Debt-to-Asset Ratios Lowest in 20 Years… By: 04/15/2014 @ 2:27pm Farm debt has increased a lot over the last two decades. Bad news, right? At the same time, general…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Big Picture: CME Trading Weather