Chicago Grain Futuers: Corn, Wheat Down, Soybean Up
Wednesday, the most active Corn contract for Jul delivery fell 6.25 cents, or 1.23%, to settle at 5.035 bu.
Jul Wheat lost 14.5 cents, or 2.04%, to settle at 6.9525 bu.
Jul Soybean rose 21.25 cents, or 1.43%, to close at 15.0875 bu.
Soybean futures rallied for the 3rd day running to reach a 9-month high. Statistics show, Soybean posted their highest close since July 2013, driven by Tuesday’s Bullish crush numbers and better-than-expected Q-1 growth data of China.
July Corn closed lower with a possibility of producer selling at prices near their highest levels in 7 months, Wheat gave back much of Tuesday’s gainer with chances for light rain in the 5-day forecast for southwestern US plains.
Traders said Wheat gave up over 2% on expectations for a turn to better weather in the Plains following a cold, dry Winter. Warming temperatures will lower the possibility of Winter kill facing the soft Wheat crop in the Midwest and the hard Wheat in the Plains states.
Latest posts by Paul Ebeling (see all)
- Berkshire Hathaway Inc. (NYSE: BRK-A, BRK-B) Q-2 Profit + 41% - August 2, 2014
- Chinese Farm Purchases In New Zealand Causes Controversy - August 2, 2014
- US Stocks Extend Thursday’s Losses - August 2, 2014
- Bollywood Star Backs Dhs2.3-B Real Estate Project In Dubai - August 2, 2014
- UBS (NYSE:UBS) Adds Stock To Equity Focus List - August 2, 2014
Berkshire Hathaway Inc. (NYSE: BRK-A, BRK-B) Q-2 Profit + 41% ... read more
US Dollar (DXY) Pulled Back At The 10 Month High ... read more
Gold, Silver, Crude Oil, Nat Gas Finish The Week In ... read more
Bollywood Star Backs Dhs2.3-B Real Estate Project In Dubai The ... read more