PARIS SINGAPORE, May 24 Chicago soybeans rose for a fifth consecutive session on Thursday to a near threeweek high amid signs that top importer China was set to resume purchases of U.
S The agency also reported lower soybean beginning and ending stocks, thanks in part to high disappearance from strongerthan expected use. The news had corn futures up nearly 2 in the moments following the report, with soybean futures adding around 0.
5. Wheat rallied as well on weather concerns around the world. Friday, August 10 th, traders found out soybeans werent quite ready to rally based on new yield numbers in the WASDE report.
The USDA increased bean bushels to the acre up 3. 1 bushels to 51. 6 bushels and projected yield to 5. 040 million bushels. With September soybeans dropping to 8. 39, and new crop December corn falling to 3. 66, farmers that didnt sell in May through June when September soybeans were above 10. 50 and December corn was 4. 20 or better, unless somebody put a gun to their head, right or wrong, they are not going to sell beans with the current extremely I would expect a good 75cent rally in corn.
That would be a welcome development for farmers worried about the cost of production this year. As of Tuesday morning, May corn futures were trading at 3. 926, a gain of a few cents since the open. Will the Corn and Soybean Rally Resume?
By Chris Lehner Archer Financial Services Friday, August 10 th, traders found out soybeans werent quite ready to rally based on new yield numbers in the WASDE report. 6: 00 a. m. CME Globex: December corn was up 2 14 cents, November soybeans were down 34 cent, and December K. C. wheat was up 16 14 cents. CME Globex Recap: European stocks and Dow Jones futures are a little lower early Friday with the Turkish lira also trading lower after Bloomberg news reported Corn basis bids trended 1 to 3 cents higher at river terminals and processors, remained steady across Midwestern ethanol plants and dipped 2 cents lower at an Ohio elevator Friday.
French consultancy FranceAgriMer again lowered its assessment of the countrys 2018 corn crop, moving it from 62 in goodtoexcellent condition the week prior to Corn futures settled several cents lower, pressured by beneficial rains over the weekend in the western and central Corn Belt. The stock market closed higher with the Dow up 89 points and the Nasdaq better by 4. Get uptodate soybean prices, futures& market info, and soybean production information from one trusted resource AgWeb.
com Farmers will dump it like a hot piece of Hawaiian lava. After a quick break, load up on corn. Or as I have been suggesting since late March, buy three corn contracts and sell one soybean contract on a spread. Yes, the rally is real, but dont expect a quick and sustained move to the upside. Corn: Weak overnight gains faded by midmorning, and prices fell to new lows for the current downdraft. July futures fell more than a nickel and came within a 12 cent of matching the March 23 lows.