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231229

Corn Ends Higher, Soybeans Lower Monday

Crude oil closes well off of its highs.

DES MOINES, Iowa -- On Monday, the CME Group’s farm futures closed mixed.

At the close, the March corn futures finished 1¢ higher at $3.60 1/2 per bushel.

January soybean futures closed 6 1/2¢ lower at $10.31.

March wheat futures ended 1¢ higher at $4.17 1/4.

January soy meal futures settled $2.60 short ton lower at $316.20.

January soy oil futures closed $0.03 higher at 36.97¢ per pound. 

In the outside markets, the Brent crude oil market is $0.94 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 39 points higher.

The markets remain supported by demand. On Moday, private exporters reported to the U.S. Department of Agriculture the following activity:

  • Export sales of 256,600 metric tons of soybeans for delivery to China during the 2016/2017 marketing year.
  • Export sales of 100,000 metric tons of grain sorghum for delivery to China during the 2016/2017 marketing year.

The marketing year for grain sorghum and soybeans began September 1.

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