Soybeans close 15¢ higher. Tuesday, December 14, 2021

On Tuesday, the CME Group’s farm markets ended mostly higher.

At the close, the March corn futures finished 5½¢ higher at $5.90. May futures ended 5¢ higher at $5.92. July corn futures closed 4¾¢ higher at $5.91.

January soybean futures settled 15¢ higher at $12.59.

March soybean futures ended 13¾¢ higher at $12.64. May soybean futures closed 13¾¢ higher at $12.72.

March wheat futures ended 1¢ lower at $7.87.

January soymeal futures closed $14.80 per short ton higher at $376.90.

January soy oil futures settled 1.11¢ lower at 52.24¢ per pound.

In the outside markets, the crude oil market is $0.57 per barrel lower at $70.72. The U.S. dollar is higher, and the Dow Jones Industrials are 113 points lower (-0.32%) at 35,537.

ALL GRAIN MARKETS TURN HIGHER
At midsession, the March corn futures are 7½¢ higher at $5.92. May futures are 7½¢ higher at $5.94. July corn futures are 6¾¢ lower at $5.93.

January soybean futures are 19¢ higher at $12.63.

March soybean futures are 17¢ higher at $12.67. May soybean futures are 17¾¢ higher at $12.76.

March wheat futures are 1¢ higher at $7.89.

January soymeal futures are $18.40 per short ton higher at $380.50.
January soy oil futures are 1.20¢ lower at 52.15¢ per pound.

In the outside markets, the crude oil market is $1.40 per barrel lower at $69.89. The U.S. dollar is higher, and the Dow Jones Industrials are 199 points lower (-0.56%) at 35,451.

Corn, soybeans diverge

On Tuesday, the CME Group’s farm markets remain mostly weak for the early half of this week’s trading.

In early trading, the March corn futures are 1½¢ lower at $5.83. May futures are 1½¢ lower at $5.85. July corn futures are 1¾¢ lower at $5.85.

January soybean futures are 5¢ higher at $12.49.

March soybean futures are 4¾¢ higher at $12.55. May soybean futures are 4¾¢ higher at $12.64.

March wheat futures are 6¾¢ lower at $7.82.

Jan. soymeal futures are $6.70 per short ton higher at $368.80.

Jan. soy oil futures are 0.50¢ lower at 52.85¢ per pound.

In the outside markets, the crude oil market is $1.08 per barrel lower at $70.21. The U.S. dollar is lower, and the Dow Jones Industrials are 76 points lower (-0.21%) at 35,574.

Al Kluis, Kluis Advisors, says that the corn market could follow the wheat market.

“If wheat prices stabilize and turn higher, then corn will find support on this setback. Expect major support on nearby corn at $5.77,” Kluis stated in a note to customers.

Kluis added, “I am watching the continuation chart gaps in corn, wheat, and soybean products. Most of the markets show a small carrying charge to the next contract. The lows last week should provide good support on this setback.”

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