Home / News / Crops news / Higher farm markets seen Thursday

Higher farm markets seen Thursday

08/09/2012 @ 7:50am

Despite nice rainfalls in the eastern Corn Belt, the CME Group corn, soybean and wheat markets are expected to start higher Thursday. 

The Early Calls for the commodities on Thursday, August 9, 2012, are higher. Corn is seen opening 5-7 cents higher, soybeans 4-6 cents higher, and wheat 6-8 cents higher.

In overnight trading, the Dec. corn futures contract traded 8 cents higher at $8.24 per bushel. Nov. soybean futures traded 7 1/2 cents higher at $15.88 3/4 per bushel, and Sept. wheat traded 6 1/2 cents higher at $9.05 3/4. For soybean meal futures, the Dec. contract traded $2.30 per short ton higher at $480.00. Dec. soybean oil futures traded $0.24 higher at $52.63.

The outside markets are mostly unfavorable forThursday's grain trade. The real factors driving the calls will be the higher overnight markets.

USDA releases neutral-to-friendly Weekly Export Sales Thursday.

For corn, sales were totaled at 1.103 million metric tons vs. the trade's expectation of 1.0-2.0 mt.

Soybean exports, as of Sunday, were estimated at 300,600 mt vs. the trade's expectation of 200,000-450,000 mt.

USDA pegged U.S. wheat sales at 665,000 mt vs. the trade's expectation of between 400,000-650,000 mt.

Discuss the corn, soybean and wheat markets in Marketing Talk.

CancelPost Comment

Farmers Are Urged to Adopt Conservation… By: 07/28/2014 @ 2:09pm U.S. farmers need to wake up to adopting conservation measures, world buyers find U.S. corn carries…

Weekly Market Wrap-up: Low Prices Cure Low… By: 07/25/2014 @ 12:16pm   RELATED VIDEO       Low prices, cure low prices…

Wheat Prices Turn Higher By: 07/25/2014 @ 8:45am DES MOINES, Iowa (Agriculture.com)--Even after big, fresh export sales announced, the CME…

This container should display a .swf file. If not, you may need to upgrade your Flash player.
Scott Shellady: Options 101