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Demand Worries Persist in Grains

22:25PM Feb 02, 2015

Corn, wheat and soybean futures finished near low range Monday as concerns about demand persist.

Wheat got hit the hardest, slipping a dime to $4.926 for March futures. “Weekly export inspections were at the top end of traders’ estimates, but that failed to inspire buying interest in future, as did pressure on the U.S. dollar index today,” said Brian Grete of Pro Farmer.

Soybeans lost around a penny, moving to $9.662 for May futures. “A wet forecast for dry areas of central Brazil this week limited buying in soybean futures today,” Grete explained.

Listen to Grete's full comments on the livestock and grain markets here:

Prices also slipped in the livestock markets. “Negative reaction to last Friday’s cattle inventory report weighed on the market today as the data showed all categories above the average pre-report trade estimates,” Grete said. “Feeder cattle were hit especially hard as the data indicate more calves are coming.”

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