Demand Worries Persist in Grains

Demand Worries Persist in Grains

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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Spell Check

Western, NE
2/3/2015 06:31 PM

  If it isn't demand killing the market, it's South America, Australia, Argentina, the Dollar, the price of the Yuan in China, the Euro, the price of oil in Tibet... Give us a break, no one really knows other than there appears to be more sellers than willing buyers. But, those shorts crapped a big one today with a broad reversal in all of the major commodities. Tomorrow they'll be cleaning their shorts and start their selling again.


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