Home / News / Crops news / Soybeans to lead markets higher Thursday

Soybeans to lead markets higher Thursday

03/15/2012 @ 7:33am

With a buying frenzy underway, combined with global production concerns and strong U.S. exports, the CME Group soybean market is poised for a sharply higher trade opening Thursday. 

The Early Calls for the commodities on Thursday, March 15, 2012, are  higher. 

Corn is seen opening 5-7 cents higher, soybeans 12-14 cents higher and wheat 4-6 cents higher.

In overnight trading, the May corn futures contract traded 5 cents higher at $6.63 3/4 per bushel. May soybean futures traded 12 cents higher at $13.62 1/4 per bushel, and May wheat traded 2 1/4 cents lower at $6.40 3/4. For May soybean meal futures, the contract traded $0.20 per short ton higher at $369.20. May soybean oil futures traded $0.33 higher at $55.13.

The outside markets are favorable for Thursday's grain trade. The real factors driving the calls will be the higher overnight markets.

Meanwhile, USDA releases friendly Weekly Export Sales Thursday for corn and soybean markets:

For corn, sales were estimated at 836,400 mt, beating the trade's expectations of 700,000 mt.

Soybean exports were pegged at 1.393 mt vs. the trade's expectations of 1.0 mmt.

USDA estimated the U.S. wheat weekly sales at 360,300 mt, sharply lower than the trade's expectations of 600,000 mt.


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


CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Close 17¢ Higher By: 04/16/2014 @ 8:46am DES MOINES, Iowa (Agriculture.com)--On Wednesday, the CME Group's corn, wheat markets came…

Soybeans to Surge Double-Digits Wednesday By: 04/16/2014 @ 7:55am The CME Group corn, soybean, and wheat markets are poised to start mostly higher.   The…

Soybeans, wheat end up double-digits By: 04/15/2014 @ 8:38am DES MOINES, Iowa (Agriculture.com)--On Tuesday, the CME Group soybean market closed double-digits…

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