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Corn, soybeans to surge higher Monday

07/30/2012 @ 6:39am

With a lack of sufficient weekend rains, the calendar preparing to turn to August, and extended weather forecasts involving more hot/dry conditions, the CME Group corn market is piling on the gains Monday.

The Early Calls for the commodities on Monday, July 30,2012, are sharply higher. Corn is seen opening 18-20 cents higher, soybeans 36-38 cents higher, and wheat 17-19 cents higher.

In overnight trading, the Dec. corn futures contract traded 21 3/4 cents  higher at $8.15 per bushel. Nov. soybean futures traded 38 3/4 cents higher at $16.40 1/2 per bushel, and Sep. wheat traded 19 1/2 cents higher at $9.17 1/2. For Aug. soybean meal futures, the contract traded $13.70 per short ton higher at $541.40. Aug. soybean oil futures traded $0.49 higher at $52.53.

The outside markets are favorable for Monday's grain trade. The real factors driving the calls will be the sharply higher overnight markets.


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


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Anybody check for pods? 07/30/2012 @ 6:51am So, it looks like my garden grean beans may be a near-total loss. Just one picking of a bean or two per plant, I have them all mulched with grass clippings, but the heat was just too much. Just HUNDREDS of blossums and aborted baby beans on the ground. Sooooooooo, I got to thinking about the asgrow 1832s out in the field. On the way to the field, I stopped at an asgrow plot. The 12s and 14s maturity were loaded with pods. Then it pretty much stopped. I checked every later variety and they were free from any pods. Now I know, everyone is going to say, we don't make beans till august, but hey, check out the calendar boys. Oh, and it seems with all the heat, everything else is about a month ahead of schedule, so where are the beans? corny

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