Home / News / Crops news / Mostly lower wheat, soybean prices Friday

Mostly lower wheat, soybean prices Friday

06/01/2012 @ 7:50am

The CME Group corn, soybean and wheat markets can be expected to trade mixed Friday.  

The Early Calls for the commodities on Friday, June 1, 2012, are mostly lower. Corn is seen opening 1-2 cents higher, soybeans 7-8 cents lower, and wheat 3-5 cents lower.

In overnight trading, the July corn futures contract traded 3 3/4 cents  higher at $5.59 per bushel. July soybean futures traded 9 cents lower at $13.31 per bushel, and July wheat traded 3 cents lower at $6.40 1/2. For July soybean meal futures, the contract traded $1.80 per short ton lower at $392.70. July soybean oil futures traded $0.59 lower at $48.61.

The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the mostly lower overnight markets and a weaker macroeconomic world that is promoting risk-averse attitudes amongst outside investors.

USDA's Weekly Export Sales Report is friendly for corn and wheat, weak for soybeans Friday. For corn, sales were totaled at 815,100 mt vs. the trade's expectations of 500,00-900,000 mt. USDA estimates soybean sales at 308,400 mt vs. the trade's expectations of between 500,000-900,000 mt. Wheat sales totaled 643,800 mt compared to the expectations of between 250,000-500,000mt.


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


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Farm Markets Start Higher Wednesday By: 07/23/2014 @ 8:38am DES MOINES, Iowa (Agriculture.com)--On Wednesday, the CME Group's corn, soybean, and wheat…

Soybean Prices to Tick Higher Wednesday By: 07/23/2014 @ 7:41am On Wednesday, the CME Group's corn, soybean, and wheat markets are expected to start mostly…

Soybeans Close 13¢ Lower By: 07/22/2014 @ 9:17am DES MOINES, Iowa (Agriculture.com)--After starting higher, the CME Group corn, soybean and wheat…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
New 6631 Sunflower Vertical Tillage System