Home / News / Crops news / CME Group corn, soy, wheat markets close sharply higher

CME Group corn, soy, wheat markets close sharply higher

07/13/2010 @ 11:00pm

CHICAGO, Illinois (Agriculture.com)--CME Group grain markets held on to a strong rally to close higher Wednesday.

The Dec corn futures closed 9 1/4 cents higher at $3.96 1/4. The Nov. soybean contract finished 7 1/2 cents higher at $9.62. The Sep. wheat futures settled 9 3/4 cents higher at $5.59. Dec. soybean meal futures are $2.70 higher at $279.60 per short ton. Dec. soyoil futures are trading 9 points higher at 38.90.

In the outside markets, the NYMEX crude oil is $0.21 lower per barrel, the dollar is lower, and the Dow Jones Industrials are down 13 points.

Joe Bedore, FC Stone's floor manager, says the markets are underpinned by the talk of hot/dry weather next week. "We're still in Chicago. This week, we're supposed to see four days of 90-plus weather. Last year, we saw one day in a few months. So, the mentality is buy and if not buy certainly don't sell."

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Outlook: Harvest Weather Seen Favorable… By: 09/19/2014 @ 11:47am At least one thing is clear. The Midwest frost threat is no longer a worry, through early October…

Soybeans, Wheat Drop Double-Digits By: 09/19/2014 @ 8:38am DES MOINES, iowa (Agriculture.com)—Big yields, favorable weather, held the CME Group’s corn…

All Farm Markets Seen Weaker Friday By: 09/19/2014 @ 7:31am On Friday, the CME Group's corn, soybean, and wheat markets are expected to start lower. The…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Improving Soil Health