Grains Open the Night Session Lower, Meats Rebound
Mar 06, 2012
Grains open the night session lower with corn trading down 1 1/4, soybeans down 2, and Chicago wheat down 3/4. Soybeans are pulling back from a day session that saw wild swings -- opening down 6 and rallying back to close out the day session up nearly 15 cents. There were rumors of China back in the bean market early in the trade session, and it looks like beans are still scrambling to pick up acres from corn. Looking at the NC soybean/corn spread it is sitting at 2.297, with 2.3 providing resistance to this ratio on February 27th. Keep an eye on this spread as we move toward the March 30th Planting Intentions report.
Want to place orders, chart spreads, and watch the markets trade in the night session? Take a demo of Firetip and get started!
THERE IS A RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS.
PLEASE READ OUR RISK DISCLOSURE.