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Grains give back early gains

11/10/2011 @ 10:11am

US grain and soybean futures are lower, reversing initial advances, as other markets trim gains of their own after Wednesday's broad selloff. Corn remains the strongest leg in the grain complex, with firm cash markets and tighter supply forecasts buoying prices, analysts say.

They add wheat and soybeans lack the fundamental wherewithal to sustain price strength amid the lack of a threatening supply outlook. CBOT December corn is down 2c at $6.54/bushel, off its session high of $6.60, while December wheat falls 7 1/4c to $6.35 3/4 and January soy drops 7c to $11.78 1/2.


(andrew.johnsonjr@dowjones.com)
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(END) Dow Jones Newswires
November 10, 2011 10:52 ET (15:52 GMT)
DJ MARKET TALK: Grain, Soy Slip As Outside Markets Trim Gains->copyright

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