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Ag markets go green to start the fall season | Wednesday, September 22, 2021

Fresh news needed for the market to trade, analyst says.

On Wednesday, the CME Group’s farm markets move slightly higher.

At the close, the Dec. corn futures finished 8½¢ higher at $5.25. March futures finished 8¢ higher at $5.33. May corn futures closed 7½¢ higher at $5.37. 
November soybean futures settled 8¾¢ higher at $12.82. 

Jan. soybean futures closed 9¢ higher at $12.91. March soybean futures closed 8¢ higher at $12.95.

Dec. wheat futures are 15½¢ higher at $7.05.
Dec. soymeal futures unchanged at $341.80.

Dec. soy oil futures are 1.06¢ higher at 56.35¢ per pound.

In the outside markets, the NYMEX crude oil market is $1.65 higher (+2.34%) at $72.14. The U.S. dollar is higher, and the Dow Jones Industrials are 361 points higher (+1.07%) at 34,281 points.

Bob Linneman, Kluis Advisors, says that the market seeks fresh news to trade.

“Traders suspect the primary culprits for the corn market are harvest pressure and the absence of export news. Meanwhile, the outside markets appear to have found some support after a handful of down days. The Federal Reserve news conference today has the potential to add volatility back to the market,” Linneman stated in a note to customers.

Linneman added, “We don’t often talk about the oats market. However, oat prices are limit up. Futures hit a high of $5.64 last Thursday and appear ready to take a run at that high again this week. Will the strength in the oats spill over to other grains?”

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