Home / News / Crops news / Downward farm futures prices

Downward farm futures prices

10/18/2011 @ 7:14am

With unfavorable outside markets and weak economic news out of China, the CME Group farm futures look to be headed downward today.

The Early Calls for the commodities on Tuesday, October 18, 2011, are sharply lower. 

In overnight electronic trading, the Dec. corn futures contract traded 9 1/4 cents lower at $6.31 1/4 per bushel. The Nov. soybean futures contract traded 22 3/4 cents lower at $12.30 1/4 per bushel. The Dec. wheat futures contract traded 7 1/4 cents lower at $6.17. For Dec. soymeal futures, the contract traded $4.70 per short ton lower at $318.30 and Dec. soyoil $0.93 lower at $51.97. 

The outside markets are not supportive for Tuesday's grain trade. The real factors driving the calls will be the lower overnight markets. 

Tom White, FutureRoad.net grain trader, says the markets will have trouble finding a solid trade pattern today. "Yesterday’s trade would appear to reinforce the view that we are in a fourth wave (corrective) technical phase. This means potential back and forth trade will continue. Stay tuned," White says.


Discuss farm markets in Marketing Talk. 

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans End 23¢ Lower By: 08/01/2014 @ 8:56am DES MOINES, Iowa (Agriculture.com)--On Friday, the CME Group's soybean markets finish under…

Farm Markets Seen Mostly Lower Friday By: 08/01/2014 @ 6:45am On Friday, the CME Group's corn, soybean and wheat markets are expected to start mostly…

Soybean, Wheat Prices Close Higher By: 07/31/2014 @ 8:35am DES MOINES, Iowa (Agriculture.com)-- The CME Group soybean and wheat markets end higher, corn lower…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Rain Drains Grain Markets