Content ID

177382

Soybeans Close 7¢ Higher Friday

Corn is up slightly

DES MOINES, Iowa -- On Friday, the CME Group’s soybean market finished the week higher, corn followed.

At the close, the December corn futures settled 1½¢ higher at $3.52½, while March futures finished 1½¢ higher at $3.62¼ per bushel.

November soybean futures closed 7½¢ higher at $9.83, while January soybean futures closed 7½¢ higher at $9.92¼.

December wheat futures closed 2½¢ lower at $4.14½.

December soy meal futures finished $1.90 per short ton higher at $306.50. December soy oil futures closed 0.07¢ higher at 35.12¢ per pound. 

In the outside markets, the Brent crude oil market is $0.18 per barrel higher, the U.S. dollar is higher, reaching a seven-month high. And, the Dow Jones Industrials are 15 points lower.

Dustin Johnson, EHedger LLC grain analyst, says that the market is digesting global supply/demand factors.

“The only thing that could be keeping the bid under the market is world veg oil supply concerns. Otherwise, we see record crops and a rising currency as an albatross for grain prices,” Johnson says.

 

Read more about
Loading...

Tip of the Day

Driver for electric fence posts is helpful

Fence post driver from Mar '20 AATF I welded a steel cap and handle onto one end of a section of light-duty 1¼-inch angle iron and a footstep onto the other end. This lets me... read more

Talk in Marketing