Grain Market Sells Off On Dollar Rise

30 Jan in Blog, corn, Euro currency, soybeans, wheat

Grain Futures—Soybean futures were down hard from the opening bell to finish lower by 34 cents to close at 11.85. This market is still trading in a dollar range from 11.50-12.50 a bushel and looks to re- test the recent lows. Corn futures fell in sympathy with beans to finish lower by 10 cents to close around 6.32 a bushel. Wheat futures closed weaker as well to close down 5 cents at 6.44 a bushel. The weaker Euro currency and better growing conditions down South put pressure on these markets today. The USDA crop report in 2 weeks has traders wondering if Brazil will have another record crop.

 

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