Home / News / Crops news / Soybean, wheat markets set to contract

Soybean, wheat markets set to contract

04/04/2012 @ 7:31am

A short trading week, unwinding of spreads, the upcoming Goldman Roll, and profit-taking all are seen keeping the farm markets in a contraction mode this week.

For Wednesday, the CME Group corn, soybean and wheat markets face a mostly lower opening. 

The Early Calls for the commodities on Wednesday, April 4, 2012, are mostly lower. 

Corn is seen opening 2-4 cents higher, soybeans 2-4 cents lower and wheat 6-8 cents lower.

In overnight trading, the July corn futures contract traded 2 3/4 cents higher at $6.55 per bushel. July soybean futures traded 2 3/4 cents lower at $14.18 1/2 per bushel, and July wheat traded 8 1/4 cents lower at $6.60 3/4. For July soybean meal futures, the contract traded $0.90 per short ton higher at $388.80. July soybean oil futures traded $0.08 higher at $56.37.

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


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


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans End Up, Lose Big Gains By: 07/24/2014 @ 8:51am DES MOINES, Iowa (Agriculture.com)--On Thursday, while the CME  Group soybean market gave back…

Soybeans To Extend Gains Thursday By: 07/24/2014 @ 7:10am On Thursday, the CME Group's corn, soybean and wheat markets are expected to start…

Soybeans Close 18¢ Higher By: 07/23/2014 @ 8:38am DES MOINES, Iowa (Agriculture.com)--The CME Group soybean market finished stronger, leading the way…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Soybeans Rally on Demand, Weather