Home / News / Crops news / Markets lean lower Friday

Markets lean lower Friday

01/20/2012 @ 7:14am

Despite fresh export sales and the funds increasing their 'long' positions in the markets this week, a higher U.S. dollar and lower crude oil is seen as pressuring the start of the CME Group corn, soybeans and wheat trading session Friday.

The Early Calls for the commodities on Friday, January 20, 2012, are lower. Corn is seen opening 2-4 cents lower, soybeans 4-6 cents lower, and wheat 1-2 cents lower.

In overnight trading, the March corn futures contract traded 2 1/2 cents lower at $6.03 1/2 per bushel. March soybean futures traded 6 cents lower at $11.91 per bushel, and March wheat traded 1/4 of a cent lower at $6.05 1/2. For March soybean meal futures, the contract traded $1.60 per short ton lower at $314.10. March soybean oil futures traded $0.31 lower at $50.75.

The outside markets are not favorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.

USDA Weekly Export Sales will be released Friday at 7:30am CST. The trade expects corn exports of 350-600,000 metric tons (mt), soybeans at 500-900,000 mt, meal at 50,000-150,000 mt, and wheat at 350-600,000 mt.


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


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Wheat Closes 27¢ Lower, Corn Slightly By: 07/01/2015 @ 8:37am DES MOINES, Iowa (Agriculture.com)--On Wednesday, the CME Group's corn, soybean, and wheat…

Corn, Soybean, Wheat Markets Seen Lower… By: 07/01/2015 @ 7:44am On Wednesday, the CME Group's corn, soybean and wheat markets are expected to start…

Trade Responds to USDA Bullish Data By: 06/30/2015 @ 10:40am DES MOINES, Iowa (Agriculture.com)—The amount of U.S. corn and soybean acres planted in 2015 has…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cover Crops-Wildlife Diversity
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]