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 +

Profit-taking Sinks Soybeans, Corn By: 10/24/2014 @ 8:57am DES MOINES, Iowa (Agriculture.com)—With the CME Group’s corn, soybean and wheat markets turning…

Soybeans Close 20¢ Higher Tuesday By: 10/21/2014 @ 8:39am DES MOINES, Iowa (Agriculture.com)—Slow harvest pace and buyers’ participation have underpinned…

Harvest Pressure Sinks Soybeans By: 10/20/2014 @ 8:50am DES MOINES, Iowa (Agriculture.com)— The CME Group’s corn, soybean, and wheat markets finished…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Are We In a Climate Change?