Corn and Soybeans Finish Strong; Wheat Fizzles

September 17, 2010 10:32 AM
 

 Corn and soybeans had a strong finish to the week with December corn up 34¢ and March, up 40.5¢ and November and January beans up about 37¢. The CME reports traders said that support came from demand news: South Korea's largest feed maker bought up to 165,000 metric tons of U.S. corn for arrival early next year; and reports that U.S. Agriculture Secretary Vilsack expects regulators to approve higher ethanol blends for some vehicles within a month.

Concern over the potential for frost in northeast China added to analysts' existing worries over apparent erosion in corn yields in the U.S. Soybeans rose as strong corn prices caused some concern over a potential loss of soybean acreage in 2011; frost in China could affect yields; and dryness in Brazil that is affecting their ability to ship exports.  

Wheat, on the other hand, closed almost unchanged from last week, depite rumors that Ukraine is halting exports. 
 
Chart
Back to news


 

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close