Home / News / Business news / Outside markets sink grain prices

Outside markets sink grain prices

08/31/2010 @ 10:20am

CHICAGO, Illinois (Agriculture.com)--The outside markets sink the CME Group grain markets Tuesday.

The Dec corn futures closed 2 1/4 cents lower at $4.39 1/4. The Nov. soybean contract settled 12 1/2 cents lower at $10.10. The Dec. wheat futures closed 18 3/4 cents lower at $6.85 3/4. The Dec. soyoil ended 48 points down at $40.05. The Dec. soymeal futures are $3.50 per short ton lower at $295.20.

In the outside markets, the NYMEX crude oil is $2.93 per barrel lower, the dollar is lower, and the Dow Jones Industrials are down 24 points.

Jack Scoville, PRICE Futures group, says Tuesday's grain market was hit by poor outside markets. "Looks like selling from the crude is hitting the grains a bit, and also some liquidation trading in wheat hitting the beans."

 

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

All Farm Markets Close Lower By: 08/29/2014 @ 8:44am DES MOINES, Iowa (Agriculture.com)--Despite the concern over crop diseases, the pressure got to the…

Farm Markets Rally Thursday By: 08/28/2014 @ 8:48am DES MOINES, Iowa (Agriculture.com)--The CME Group corn, soybean, and wheat markets closed higher…

Farm Markets Seen Higher Thursday By: 08/28/2014 @ 6:41am On Thursday, the CME Group's corn, soybean, and wheat markets are expected to start…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Holiday Profit Taking Pressures Markets