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09-16-2013 07:29 AM - edited 09-16-2013 05:58 PM
Soybeans drop 32 cents.
After the close:
United Soybean Board released this statement Monday: "As China’s appetite for soy products continues to grow, it’s leaning on U.S. soybean farmers to help meet demand – in one recent case, to the tune of $2.8 billion.
During the recent U.S. Soy Global Trade Exchange, Chinese agricultural leaders signed agreements to buy approximately $2.8 billion worth of U.S. soy. The delegation signed 13 contracts with U.S. exporters."
At the close:
The Dec. corn futures contract closed 2 1/2 cents lower at $4.56. The Nov. soybean futures contract settled 33 cents lower at $13.48. Dec. wheat futures finished 1/4 of a cent lower at $6.41 per bushel. The Dec. soymeal futures settled $14.30 per short ton lower at $428.50. The Dec. soyoil futures closed $0.19 lower at $42.37.
In the outside markets, the NYMEX crude oil is $1.27 per barrel lower, the dollar is higher and the Dow Jones Industrials are 133 points higher.
One analyst says, "The market suffered a price break, as ample weekend rains and more rain this week broke the beans, with other grains in tow. Beans still have about 8% of crop maturing. A little short covering late, ahead of the FSA report in the morning that should show the acres unplanted," he says.
At the open:
The Dec. corn futures contract is trading 1/4 of a cent lower at $4.58. The Nov. soybean futures contract is trading 15 cents lower at $13.65. Dec. wheat futures are trading 1/4 of a cent higher at $6.41 per bushel. The Dec. soymeal futures are trading $6.30 per short ton lower at $436.50. The Dec. soyoil futures are trading $0.11 lower at $42.45.
In the outside markets, the NYMEX crude oil is $1.90 per barrel lower, the dollar is higher and the Dow Jones Industrials are 141 points higher.
Early calls: Corn is seen 1-2 cents higher, soybeans 12-14 cents lower, and wheat 1-2 cents higher.
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$1.55 per barrel lower.
Wall Street=Seen trading higher.
World Markets=Asia/Pacific stocks were higher, Europe stocks higher.
More in a minute,