Home / News / Crops news / Argentine rains drop grains

Argentine rains drop grains

01/10/2012 @ 6:51am

With rain falling in the dry areas of Argentina, the CME Group corn, soybeans and wheat prices are seen pulling back Tuesday. 

The Early Calls for the commodities on Tuesday, January 10, 2012, are weaker. Corn is seen opening 1-2 cents lower, soybeans 7-9 cents lower, and wheat 3-5 cents lower.

In overnight trading, the March corn futures contract traded 1 cent lower at $6.50 1/2 per bushel. March soybean futures traded 7 cents lower at $12.26 per bushel, and March wheat traded 3 cents lower at $6.38. For March soybean meal futures, the contract traded $2.20 per short ton lower at $321.00. March soybean oil futures traded $0.17 lower at $52.16.

The outside markets are favorable for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets.


Discuss corn, soybean, and wheat markets in Marketing Talk.

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Close Higher, Corn Lower By: 08/18/2014 @ 8:39am DES MOINES, Iowa (Agriculture.com)--After starting lower, the CME Group soybean market finished…

Corn Market Seen Higher Monday By: 08/18/2014 @ 8:08am On Monday, the CME Group's corn, soybean, and wheat markets are expected to start mostly…

Summing Up a Head-Scratcher of a Grain… By: 08/15/2014 @ 12:46pm Traders end the week the same way they started it, by scratching their heads. Confusion reigned…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
CME Group and 4-H's Risk Ranch