Corn, soybeans end stronger
DES MOINES, Iowa (Agriculture.com)--Weather concerns and demand help the CME Group soybean and corn markets end higher Thursday.
The March corn futures contract settled 6 cents higher at $4.33. The March soybean futures contract closed 5 3/4 cents higher at $12.75. March wheat futures finished 2 cents higher at $5.53 per bushel. The March soymeal futures contract ended $1.90 per short ton higher at $425.20. The March soyoil futures settled $0.03 lower at $37.07.
In the outside markets, the Brent crude oil is $1.04 per barrel higher, the dollar is higher and the Dow Jones Industrials are 106 points higher.
Mike North, Senior Risk Advisor for First Capitol Ag, says today's trading offered more of the same. "Corn remains in a quiet range, while soybeans whip in the area of consolidation from the $12.60s to the $12.80s. Export data was supportive and may help corn break out for a brief rally," North says. But, it will need to continue to see more weeks like this one. Otherwise this thing is a yawner."