Grains slightly lower in early trading
After a lower overnight trade, losses have trimmed slightly to leave the grains slightly lower in early Tuesday trading.
In early trading:
- December 2010 corn: 2 1/4 cents lower at $5.55 per bushel
- November 2010 soybeans: 1/4 cent lower at $11.83 3/4
- December 2010 wheat: 6 1/4 cents lower at $6.83 3/4
"Chart watchers would like to see the December contract fill the huge gap down to $5.28/bushel" on the continued strength in the U.S. Dollar index, says Market Analyst John Roach. He adds traders are waiting on fresh news -- bearish or bullish -- for direction now that prices have adjusted to the latest news harvest progress, export sales & the Dollar).