On Tuesday, the CME Group’s farm markets plunge. At midsession, the July corn futures are 31¼¢ lower at $6.26. New-crop September futures are 23¾¢ lower at $5.44¼. December corn futures are 20¢ lower at $5.20¼. July soybean futures are 18½¢ lower at $15.04¼. August soybean futures are 17¾¢ lower at $14.53¾. New-crop November soybean futures are 21¾¢ lower at $13.40½. July wheat futures 12¢ lower at $6.50¼. July soymeal futures are $13.40 per short ton lower at $386.80. July soy oil futures are 0.82¢ higher at 65.95¢ per pound. In the outside markets, the NYMEX crude oil market is -0.06 lower (-0.09%) at $65.99. The U.S. dollar is lower, and the Dow Jones Industrials are 57 points lower (-0.17%) at 34,336 points.
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The market reacted negatively, initially, then finished mostly higher. By
3/9/2021 The USDA leaves its crop ending stocks numbers mostly unchanged; the market takes it as a negative report. On Tuesday, the USDA released its March Supply/Demand Report. As a result, the CME Group’s farm markets mostly dropped. Soybeans fell 6¢, corn down 4¢, and wheat up 4¢. At the close, the May corn futures finished 1 1/4¢ lower at $5.46 1/2. July corn futures settled 1 1/4¢ lower at $5.34 3/4. New crop December corn futures closed 3 1/4¢ higher at $4.84 1/2. May soybean futures closed 6 1/4¢ higher at $14.40 1/2. July soybean futures closed 7 3/4¢ higher at $14.26 3/4. New crop November soybean futures closed 7 3/4¢ higher at $12.62 1/4.