Home / News / Crops news / Grains close sharply higher Wednesday

Grains close sharply higher Wednesday

Jeff Caldwell 10/20/2010 @ 3:22pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

It was a big day for the bulls in the CME Group grain pits Wednesday, with corn, soybeans and wheat closing sharply higher.

At the close, the December 2010 corn futures contract ended 27 1/2 cents higher at $5.73 1/2 per bushel, while November soybeans were 32 cents higher at $12.12. December wheat ended 11 1/2 cents higher at $6.83 per bushel.

Many anaylsts say a reversal of the U.S. Dollar index -- which had been showing signs of major strength in the past few days -- is largely behind Wednesday's rally in the grains. There was also more commercial and speculative buying as prices broke, as well as some growing speculation about the 2010 crops as harvest winds down, both of which helped buoy the grains.



CancelPost Comment
MORE FROM JEFF CALDWELL more +

Dry Getting Drier, Wet Getting Wetter --… By: 04/17/2014 @ 8:37am Rain and snow last weekend and early this week was enough to put a dent in the general drought…

Soybeans blast off on strong processing data By: 04/15/2014 @ 3:27pm Soybean futures topped out Tuesday above $15/bushel for the first time in quite a while on news…

Farm Debt-to-Asset Ratios Lowest in 20 Years… By: 04/15/2014 @ 2:27pm Farm debt has increased a lot over the last two decades. Bad news, right? At the same time, general…

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