Home / News / Business news / Grains mixed at mid-day Friday

Grains mixed at mid-day Friday

Jeff Caldwell 10/22/2010 @ 11:11am Multimedia Editor for Agriculture.com and Successful Farming magazine.

The tone is mixed in the CME Group grain pits Friday at mid-day, with corn slightly lower, soybeans slightly higher and wheat unchanged.

At mid-day, the December 2010 corn futures contract is 3/4 cent lower at $5.63 1/2 per bushel, while November soybeans are 1 cent higher at $12.02 1/2, according to Barchart.com. December wheat is unchanged at $6.68 3/4 per bushel.


See more of the latest futures prices


The $5.63 point in the corn trade is an important one, analysts say. Closing Friday's trade under that price could mean the "bull market has run out of steam," one analyst says in a Dow Jones Newswires report.

In the soybean market, however, look toward early next week for the "dead cat bounce," the time when a top could be made. "With the passing of ten trading days since the October 4 harvest low, we are now into the territory where a top in prices could be expected at any time," writes market analyst Roy Smith in his Friday commentary. "Even though ten trading days is the minimum experienced in other years, it is more common for the move to last fifteen trading days. That milestone will be met on Tuesday, October 26."


Talk: 'More on that dead cat'


CancelPost Comment
MORE FROM JEFF CALDWELL more +

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…

Corn Planting Sags; Wheat Worries Mount By: 04/15/2014 @ 9:21am Corn planting is underway in the U.S. That's the good news. The bad news is as of mid-April…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Farm markets Rally on Weather, Ukraine