Home / News / Crops news / Friday's grain market seen higher

Friday's grain market seen higher

Updated: 02/17/2012 @ 8:44am

The CME Group corn, soybean and wheat markets are poised to start higher Friday. 

The Early Calls for the commodities on Friday, February 17, 2012, are higher. Corn is seen opening 4-5 cents higher, soybeans 7-9 cents higher and wheat 8-10 cents higher.

In overnight trading, the March corn futures contract traded 4 3/4 cents higher at $6.41 per bushel. March soybean futures traded 7 cents higher at $12.65 3/4 per bushel, and March wheat traded 8 1/4 cents higher at $6.37. For March soybean meal futures, the contract traded $1.40 per short ton higher at $332.20. March soybean oil futures traded $0.39 higher at $53.44.

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

USDA announces Friday:

--120,000 mt of Soft Red Winter wheat were sold to an 'unknown' buyer for 2011-12 delivery.

--20,000 mt of U.S. soyoil were sold to Morocco for 2011-12 delivery.

--132,000 mt of U.S. corn were sold to South Korea for 2011-12 delivery.

--173,000 mt of U.S. soybeans were sold to China for 2011-12 delivery.

--2.75 million metric tons of U.S. soybeans were sold to China for 2012-13 delivery.

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

CancelPost Comment

2016 Basis Prices Vary Widely Depending on… By: 11/25/2015 @ 2:24pm This marketing year, farmers who are looking to pick up a few more cents per bushel for their corn…

Soybeans Close 11¢ Higher Wednesday By: 11/25/2015 @ 8:48am DES MOINES, Iowa (Agriculture.com)--On Wednesday, the bulls stole the feast from the bears, with…

Soybeans, Corn End Lower Tuesday By: 11/24/2015 @ 8:50am DES MOINES, Iowa (Agriculture.com)-- On Tuesday, the CME Group's corn, soybean and wheat…

This container should display a .swf file. If not, you may need to upgrade your Flash player.
Successful Marketing Newsletter