Home / News / Crops news / Demand to push up soybeans, wheat

Demand to push up soybeans, wheat

03/07/2013 @ 7:56am

DES MOINES, Iowa (Agriculture.com)--Based upon strong demand, the CME Group soybean and wheat markets are seen higher, corn weaker Thursday.

The early calls for the commodities on Thursday, March 7, 2013, are mostly higher. Corn is seen opening 1-2 cents lower. Soybeans are seen 6-8 cents higher and wheat 2-4 cents higher.

In overnight trading, the May corn futures contract traded 1 cent lower at $6.87 per bushel. May soybean futures traded 5 cent higher at $14.71 per bushel, and May wheat traded 4 cents higher at $6.88. For March soybean meal futures, the contract traded $2.00 per short ton higher at $437.30. May soybean oil futures traded $0.03 cents higher at $50.29. 

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


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


On Thursday, the USDA released bullish numbers for soybean and wheat markets in its Weekly Export Sales Report.

For U.S. corn sales, USDA estimates them at 156,600 metric tons vs. the trade's expectations of  500-700,000 metric tons (mt).

For soybeans, U.S. weekly exports totaled 1.382 million mt  vs. the trade's expectations of 700,000-1,100,000 mt.

U.S. wheat exports were estimated at 828,100 mt vs. the trade's expectations of at 300 to 600,000 mt.

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

USDA to Show Record Soybean Plantings? By: 03/30/2015 @ 1:46pm Will the biggest USDA report of the year show that U.S. farmers will plant more soybeans than ever…

Wheat Closes 22¢ Higher Monday By: 03/30/2015 @ 8:37am DES MOINES, Iowa (Agriculture.com)—On Monday, a risk-on mentality, poor wheat weather, and…

Corn, Soybeans to Edge Higher Monday By: 03/30/2015 @ 7:27am On Monday, the CME Group's corn, soybean, and wheat markets are expected to start higher. The…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Planter tips: Seeds
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]