Home / News / Crops news / Fast harvest weighs on corn market

Fast harvest weighs on corn market

10/02/2012 @ 8:12am

With U.S. corn harvest activity over half complete, way above normal, this is keeping the outlook for the CME Group corn, soybean and wheat markets lower Tuesday. 

The Early Calls for the commodities on Tuesday, October 2, 2012, are lower. Corn is seen opening 3-5 cents lower, soybeans 18-20 cents lower, and wheat 7-9 cents lower.

In overnight trading, the Dec. corn futures contract traded 3 1/2 cents lower at $7.53 per bushel. Nov. soybean futures traded 17 cents lower at $15.42 per bushel, and Dec. wheat traded 10 cents lower at $8.73. For Dec. soybean meal futures, the contract traded $3.70 per short ton lower at $470.80. Dec. soybean oil futures traded $0.74 lower at $50.45.

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

On Monday, the USDA rated the U.S. corn harvest as 54%, vs. 18% a year ago. That's three-times the normal pace. The U.S. soybean crop is 41% harvested.


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

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Surge Higher Thursday By: 08/27/2015 @ 8:53am On Thursday, the CME Group's soybean market has jumped up double-digits to start the…

Soybeans Seen Moving Up Double-Digits… By: 08/27/2015 @ 6:12am On Wednesday, the CME Group's corn, soybean, and wheat markets are expected to start…

Soybeans Close 12¢ Lower By: 08/26/2015 @ 8:36am DES MOINES, Iowa (Agriculture.com)--After trading higher, the CME Group's corn, soybean, and…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
John Deere High Capacity Nutrient Applicator
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]