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 Close Higher, Corn Lower By: 08/18/2014 @ 8:39am DES MOINES, Iowa (Agriculture.com)--After starting lower, the CME Group soybean market finished…

Corn Market Seen Higher Monday By: 08/18/2014 @ 8:08am On Monday, the CME Group's corn, soybean, and wheat markets are expected to start mostly…

Summing Up a Head-Scratcher of a Grain… By: 08/15/2014 @ 12:46pm Traders end the week the same way they started it, by scratching their heads. Confusion reigned…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
CME Group and 4-H's Risk Ranch