Corn, soybean prices end slightly higher. Tuesday, January 11, 2021

The CME Group’s farm markets ended slightly higher, as the trade prepares for Wednesday’s USDA Supply/Demand, WASDE, and Quarterly Stocks Reports.

At the close, the March corn futures closed 1¼¢ higher at $6.01. May futures ended 1½¢ higher at $6.02. July corn futures finished 1¢ higher at $6.00.

March soybean futures closed 1¾¢ higher at $13.86.

May soybean futures settled 1¾¢ higher at $13.95. July soybean futures closed 1¾¢ higher at $14.01.

March wheat futures ended 8¼¢ higher at $7.70.

March soymeal futures ended $3.20 per short ton lower at $413.10.

March soy oil futures closed 0.84¢ higher at 58.87¢ per pound.

In the outside markets, the crude oil market is $3.13 per barrel higher at $81.36. The U.S. dollar is lower, and the Dow Jones Industrials are 156 points lower (+0.43%) at 36,205.

At midsession, the CME Group’s farm markets change little.

At midsession, the March corn futures are 3/4¢ higher at $6.00. May futures are 1/2¢ higher at $6.01. July corn futures are 1/4¢ higher at $5.99.

March soybean futures are 4 1/4¢ higher at $13.89.

May soybean futures are 4¢ higher at $13.97. July soybean futures are 3 1/2¢ higher at $14.02.

March wheat futures are 5 1/4¢ higher at $7.67.

March soymeal futures are 0.80 per short ton lower at $415.50.

March soy oil futures are 0.79 of a cent higher at 58.82 per pound.

In the outside markets, the crude oil market is $2.89 per barrel higher at $81.12 the U.S. Dollar is lower, and the Dow Jones Industrials are 14 points lower (-0.04%) at 36,054.

On Tuesday, the CME Group’s farm markets diverge.

In early trading, the March corn futures are 1¢ higher at $6.00. May futures are ¾¢ higher at $6.02. July corn futures are 1¢ higher at $6.00.

March soybean futures are 8¾¢ lower at $13.76.

May soybean futures are 9½¢ lower at $13.84. July soybean futures are 9¢ lower at $13.90.

March wheat futures are 1¾¢ higher at $7.63.

March soymeal futures are $3.20 per short ton lower at $413.30.

March soy oil futures are 0.20¢ higher at 58.23¢ per pound.

In the outside markets, the crude oil market is $1.53 per barrel higher at $79.76. The U.S. dollar is higher, and the Dow Jones Industrials are 14 points lower (-0.04%) at 36,054.

On Tuesday, private exporters reported sales of 100,000 metric tons of soybeans for delivery to Mexico during the 2021/2022 marketing year.

Bob Linneman, Kluis Advisors, says that investors eye this week’s USDA report.

“The USDA may find more U.S. harvested acres of both corn and soybeans in the report on Wednesday. The most important number to watch is the ending stock projections for corn and soybeans,” Kluis stated in a note to customers.

Linneman added, “On Wednesday not only do we get the major USDA reports, but also the December inflation report. The average trade prediction is 7%. If it is anything near 7%, it will create some extreme volatility in the stock and commodity markets, and possibly bring some inflation buyers into the commodity markets.”

Successful Farming

Tags: soybean futures, corn futures, farm markets, wheat futures, soymeal futures, soy oil futures