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 +

3 Things to Watch This Morning, Friday… By: 12/19/2014 @ 6:21am A turnaround's likely in Friday's grain trade. Prices have been strong -- most for wheat…

3 Things to Watch This Morning, Thursday… By: 12/18/2014 @ 6:15am Grains surging on Cuba news. For more than five decades, the U.S. has had a trade embargo against…

Senate OKs Section 179 Deduction; Act… By: 12/17/2014 @ 9:45am With just shy of 2 weeks left until the end of the year, Congress has finally made it official: The…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
The Future of Livestock Production
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]