Grain prices start off week of November 3 lower

November 3, 2014

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From WATTAgNet:

Corn, soybeans and wheat started the week of November 3 down on speculation that farmers in the U.S. will accelerate their harvest amid dry weather. Meanwhile, weather in South America has improved for planting.

More liquid meal conditions are undercutting soy, and concurrent gains in palm and crude oil prices failed to bolster soyoil prices. Wheat markets are struggling on news that the U.S. was shut out of a fresh Egyptian tender last weekend.

December corn futures fell 2.5 cents at $3.7425 per bushel November 2, while May lost 2.0 to $3.96.

January soybean futures dropped 6.25 cents to $10.43 per bushel in early Monday trading, while December soyoil dipped 0.04 cents to 34.76 cents per pound, and December soymeal slumped $4.9 to $384.1 per ton.

December Chicago Board of Trade wheat fell 3.25 cents to $5.2925 per bushel early Monday morning.

Crop marekts are starting the week rather poorly

Talk of improved weather is pressuring corn and beans. Recent dryness in the U.S., and forecasts for more of the same, have sped the domestic corn harvest, while South American planting weather has improved. December corn futures sank 2.5 cents at $3.7425/bushel Sunday night, while May lost 2.0 to $3.96.

Grains fall on harvest progress and profit taking

FXStreet (Mumbai) – Corn and Soybeans fell on speculation that farmers in the US will accelerate harvesting this week as the weather is likely to be dry. Corn for December delivery is trading 0.83% lower at USD 3.7288/bushel, while Soybean for January delivery is trading 0.94% lower at USD 10.3938. Corn futures rallied 17% last month as the rain delayed harvesting pushing the prices up.