Home / News / Crops news / Profit-taking to sink farm markets

Profit-taking to sink farm markets

03/01/2013 @ 7:35am

DES MOINES, Iowa (Agriculture.com)--Profit-taking and concerns about the U.S. sequestration issues are applying pressure to the CME Group corn, soybean and wheat markets Friday.

The early calls for the commodities on Friday, March 1, 2013, are lower. Corn is seen opening 5-7 cents lower. Soybeans are seen 10-12 cents lower and wheat 2-4 cents lower.

In overnight trading, the March corn futures contract traded 3 cents lower at $7.16 per bushel. March soybean futures traded 12 cents lower at $14.62 per bushel, and March wheat traded 2 cents lower at $7.05. For March soybean meal futures, the contract traded $4.00 per short ton lower at $430.80. March soybean oil futures traded $0.24 cents lower at $48.58. 

The outside markets are unfavorable for Friday's grain trade. The real factors driving the calls will be the lower overnight markets.


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

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybean Market Closes 18¢ Lower By: 03/02/2015 @ 8:38am DES MOINES, Iowa (Agriculture.com)--On Monday, the CME Group's corn, soybean and wheat markets…

Soybeans, Wheat Markets Seen Up Monday By: 03/02/2015 @ 7:21am On Monday, the CME Group's corn, soybean and wheat markets are expected to start mostly…

Port Strike Spotlights Corn, Soybean Export… By: 02/27/2015 @ 4:41pm The West Coast dockworkers slowdown that ended a week ago has highlighted new concerns for the…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Brazilian Rain and US Planting Outlook
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]