At the close:
The March corn futures contract settled 4 1/4 cents higher at $4.49. The March soybean futures contract finished 23 cents higher at $13.61. March wheat futures settled 13 cents higher at $6.12 per bushel. The March soymeal futures contract ended $6.90 per short ton higher at $456.90. The March soyoil futures closed $1.21 higher at $40.36.
In the outside markets, the NYMEX crude oil is $1.45 per barrel higher, the dollar is lower and the Dow Jones Industrials are 6 points lower.
Mike
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At mid-session:
The March corn futures contract is trading 2 3/4 cents higher at $4.48. The March soybean futures contract is 23 cents higher at $13.60. March wheat futures are 10 cents higher at $6.08 per bushel. The March soymeal futures contract is trading $7.80 per short ton higher at $457.80. The March soyoil futures are trading $1.03 higher at $40.18.
In the outside markets, the NYMEX crude oil is $0.65 per barrel higher, the dollar is lower and the Dow Jones Industrials are 7 points lower.
Mike
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At the open:
The March corn futures contract is trading 1 cent higher at $4.46. The March soybean futures contract is 15 cents higher at $13.52. March wheat futures are 5 cents higher at $6.03 per bushel. The March soymeal futures contract is trading $6.60 per short ton higher at $456.60. The March soyoil futures are trading $0.56 higher at $39.71.
In the outside markets, the NYMEX crude oil is $0.55 per barrel lower, the dollar is lower and the Dow Jones Industrials are 11 points lower.
Mike
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At 8:10am:
Jeff Coleman, The Trean Group analyst and CME Group floor trader, says the momentum is positive for all farm markets, especially soybeans. "Plus, Friday’s commitment of traders report showed that hedge funds starting to cover their massive short US wheat positions."
Also, Friday's report showed: For the first time since June, Hedge-fund managers and other large speculators switched to a net-long position in corn futures, according to the CFTC data. Funds upped net-long soybean positions by 15 percent, CFTC data show.
Traders are concerned about Brazil's dry weather.
Mike
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At 7:20am:
Early calls: Corn is seen 1-2 cents higher, soybeans 10-11 cents higher, and wheat 3-5 cents higher.
Trackers:
Overnight grain, soybean markets=Trading higher.
ICE Brent Crude Oil=$0.55 per barrel lower.
Dollar=Lower.
Wall Street=Higher.
World Markets=Asia/Pacific stocks were mixed-to-higher, Europe stocks lower.
More in a minute,
Mike
