Floor Talk December 31
Corn is down a penny, soybeans have fallen 13¢, and wheat is up a few cents. South America's rains hurt the bean market, Tuesday.
In early trading, the March corn futures contract is trading 1cent lower at $4.22. The March soybean futures contract is trading 8 cents lower at $13.00. March wheat futures are 1 1/2 cents higher at $6.02 per bushel. The March soymeal futures contract is trading $3.50 per short ton lower at $423.60. The March soyoil futures are trading $0.13 higher at $39.09.
In the outside markets, the NYMEX Brent crude oil is $1.16 per barrel higher, the dollar is higher and the Dow Jones Industrials are 24 points higher.
Early calls: Corn is seen 1-2 cents lower, soybeans 5-7 cents lower, and wheat 1-2 cents lower.
Overnight grain, soybean markets=Trading lower.
Brent Crude Oil=$1.16 per barrel higher.
Wall Street=Seen higher.
World Markets=Asia/Pacific stocks were higher, Europe stocks mixed to mostly lower.
More in a minute,
Re: Floor Talk December 31
Jeff Coleman, a Trean Group analyst and CME Group floor trader, says the news looks bleak for the final trading day of the year.
"Corn and wheat futures are trading near the unchanged level this morning while soybean futures are extending losses from yesterday’s trading session. March corn futures are up .25 cents after trading in a very narrow 1.25 cent range on meager volume. Corn futures continue to trade in their sideways range with not much news to move the markets. March soybean futures are down 5.5 cents as selling continues from yesterday and weather conditions continue to be favorable form South American crops. New contract lows were made in the wheat futures overnight as March Chicago wheat futures are down a penny putting an end to a dismal year for the wheat bulls," Coleman says.