Farm Prices Trim Losses, End Lower Tuesday

Rain keeps making grain.

DES MOINES, Iowa -- On Tuesday, the CME Group’s farm markets closed lower, but off daily lows, as the Midwest crops continue to get beneficial moisture.

At the close, the Sep. corn futures settled 1½¢ lower at $3.24¼; Dec. futures closed ¼¢ lower at $3.34 per bushel.

August soybean futures finish 10¾¢ lower at $9.85, while Nov. soybean futures closed 8½¢ lower at $9.53.

Sep. wheat futures finished 4¾¢ lower at $4.01¼.

August soy meal futures closed $5.60 short ton lower at $328.40. August soy oil futures closed 0.31¢ higher at 30.06¢ per pound. 

In the outside markets, the Brent crude oil market is $0.63 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 112 points lower.

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The USDA announced Tuesday fresh soybean sales. Private exporters reported to the U.S. Department of Agriculture export sales of 252,000 metric tons of soybeans for delivery to China during the 2016/2017 marketing year.

The marketing year for soybeans began September 1.

 

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