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Export demand sends grains skyward

Jeff Caldwell 04/27/2012 @ 3:15pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

Soybean futures shot through the roof Friday on news of massive new export sales. That factor has combined with a shrinking crop outlook for South America to fuel major upside for soybeans and, at least on Friday, the corn trade followed suit. And, new numbers Friday show corn could be part of the rally equation for a while.

So, will the rally continue? See a few of the latest factors in play, as well as farmers' input into whether or not it will cause them to change any planting decisions this spring or later on.


Soybeans close just under $15

After hitting $15.09 per bushel, the CME Group soybean market pulled back a bit, still closing sharply higher. Corn and wheat finished strongly as well Friday.

 

Pondering more soybeans

With the CME Group soybean market trading over $15.00 per bushel Friday, can you hear the tractors planting corn idling down, heading to the shed to switch corn out for soybean seed?

 

China corn imports to jump 50%

China's corn imports may rise 50% to around 6 million metric tons in the next IGC marketing year that begins July 1, the International Grains Council said Friday.


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