Home / News / Crops news / Drought sends grain markets higher

Drought sends grain markets higher

01/09/2012 @ 7:31am

With drought concern spreading in South America, along with a weaker U.S. dollar, the CME Group corn, soybeans and wheat prices will see a higher start Monday.

The Early Calls for the commodities on Monday, January 9, 2012, are higher. Corn is seen opening 8-9 cents higher, soybeans 9-11 cents higher, and wheat 10-12 cents higher.

In overnight trading, the March corn futures contract traded 7 1/2 cents higher at $6.51 per bushel. March soybean futures traded 9 3/4 cents higher at $12.06 1/4 per bushel, and March wheat traded 10 cents higher at $6.34 3/4. For March soybean meal futures, the contract traded $1.20 per short ton higher at $313.60. March soybean oil futures traded $0.64 higher at $51.76.

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


Discuss South America's drought and corn, soybean, and wheat markets in Marketing Talk.

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Close 13¢ Lower Tuesday By: 11/18/2014 @ 8:37am DES MOINES, Iowa (Agriculture.com)—Acting like a ‘turnaround Tuesday’, the CME Group soybean…

Soybeans Seen Slightly Higher Tuesday By: 11/18/2014 @ 6:36am On Tuesday, the CME Group's corn, soybean, and wheat markets are expected to start mostly…

Soybeans Close 13¢ Higher Monday By: 11/17/2014 @ 8:48am DES MOINES, Iowa (Agriculture.com)—On Monday, the CME Group soybean market closed higher, with…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cool Tools Christmas Edition: Craftsman Two-in-One