Home / News / Crops news / Mixed corn, soybean markets seen

Mixed corn, soybean markets seen

04/03/2012 @ 7:29am

With no fresh news since Monday, the CME Group corn, soybean and wheat markets face a mostly lower opening Tuesday. 

The Early Calls for the commodities on Tuesday, April 3, 2012, are mostly lower. 

Corn is seen opening 1-2 cents higher, soybeans 4-6 cents lower and wheat 4-6 cents lower.

In overnight trading, the July corn futures contract traded 3/4 of a cent higher at $6.51 3/4 per bushel. July soybean futures traded 6 cents lower at $14.21 1/4 per bushel, and July wheat traded 6 1/2 cents lower at $6.63. For July soybean meal futures, the contract traded $1.60 per short ton lower at $391.30. July soybean oil futures traded $0.27 lower at $56.30.

The outside markets are mildly friendly for Tuesday's grain trade. The real factors driving the calls will be the mostly lower overnight markets.

A weaker U.S. dollar is positive for the grain markets. However, favorable crop-weather for U.S. wheat is weighing on the market. Plus, profit-taking in soybeans has some traders thinking the market could be slowed Tuesday.

On Tuesday, the CME Group announced that its first quarter agricultural commodities volume averaged 1.1 million contracts per day, down 3 percent compared with the prior-year period, but up 12 percent compared with fourth-quarter 2011.


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

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

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…

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