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 +

Farm Markets Close Higher Wednesday By: 10/01/2014 @ 8:49am DES MOINES, Iowa (Agriculture.com)—On Wednesday, the CME Group’s corn, soybean, and wheat…

Corn, Soybean Markets Seen Weaker Wednesday By: 10/01/2014 @ 7:29am On Wednesday, the CME Group's corn, soybean, and wheat markets are expected to start…

USDA Bullish Soybean Data Trumped By: 09/30/2014 @ 10:54am As of September 1, the USDA sees the U.S. soybean and corn stocks getting tighter.In its Quarterly…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Pre-Harvest Checklist