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

Friday's grain market seen higher

02/17/2012 @ 7:28am

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
MORE FROM MIKE MCGINNIS more +

Soybeans Close 17¢ Higher By: 04/16/2014 @ 8:46am DES MOINES, Iowa (Agriculture.com)--On Wednesday, the CME Group's corn, wheat markets came…

Soybeans to Surge Double-Digits Wednesday By: 04/16/2014 @ 7:55am The CME Group corn, soybean, and wheat markets are poised to start mostly higher.   The…

Soybeans, wheat end up double-digits By: 04/15/2014 @ 8:38am DES MOINES, Iowa (Agriculture.com)--On Tuesday, the CME Group soybean market closed double-digits…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Big Picture: CME Trading Weather