Corn, Soybean, and wheat news

According to the latest news, at the close of CME Group trading Monday, corn, soybean, and wheat futures increased.

The December corn futures ended 5¾¢ higher at $4.16¼, while March corn futures ended the session 4¾¢ higher at $4.24¼.

Furthermore, January soybean futures increased by 5½¢ and settled at $11.53½, while March soybean futures ended the session 6½¢ higher and touched $11.54½.

Additionally, wheat December futures ended the session at $5.98 as it increased by 4½¢. Soymeal December futures rose by $1.20 per short ton and settled at $389.30. Soy oil December futures finished 0.30¢ up at 37.43¢ per pound.

Furthermore, in the outside markets, the NYMEX crude oil market gained 2.89%, which equals $1.19 per barrel, and settled at $41.29. Besides, the U.S. dollar declined, while the Dow Jones Industrial average boosted 1.25% or 368 points and hit 29,847 points.

Matt Tranel agrees with Don Roose of U.S. Commodities that the stock market is affecting commodities today.

The grain market increased after Moderna published about its positive vaccine

According to him, grain markets are mainly higher today due to outside markets. He announced that Moderna Inc. published positive news regarding its coronavirus vaccine after its latest tests. Markets also rose last week when Pfizer announced the vaccine. The stock market raced back towards its contract highs, boosting oil and most commodities.

In early trading, Monday, soybean, and corn futures gained

In early trading, the December corn futures rose by 1¼¢ and touched $4.11¾. March corn futures advanced ¾¢ and reached $4.20¼.

Soybean futures of January increased 2½¢ at $11.50½, while March soybean futures boosted 3¢ and settled at $11.51.

Meanwhile, December wheat futures declined 4¼¢ to $5.89¼, While December soy meal futures gained $1.10 per short ton and hit $389.20. Additionally, December soy oil futures advanced 0.21¢ at 37.34¢ per pound.

According to Kluis of Kluis Commodity Advisor, the macro markets are all positive today. He said that U.S. and global stocks and energy prices are higher. On October 13, the grain markets closed higher with corn ending 1 to 2 cents up, soybeans 3 cents up, and wheat 4 to 6 cents higher. In China, corn futures boosted 11 cents and settled at $9.25 per bushel, and soybean futures advanced 1 cent at $20.98 per bushel.

According to him, private estimates of the corn and soybean crops from South America will continue to move lower this week.

The trade estimate is for 177.1 million bushels, which would signify a nationwide crush of 188 million bushels, a new record high for October. Significantly, in the first two months of this year, crush is expected to be running 10 million bushels higher than in 2019.

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  1. Benny Moss 08.12.2020
  2. Maye Bunyea 23.11.2020

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