Market News

Lower finish for grains and oilseeds

Soybeans were lower on fund and technical selling. 94% of the soybean crop is harvested, with a number of major states wrapped up for the year. Demand remains solid though, with unknown destinations buying 100,607 tons of U.S. beans. Soybean meal was lower and bean oil was higher, adjusting product spreads.

Corn was lower on fund and technical selling. 89% of corn is harvested, which is a little ahead of average, but parts of the Northern Midwest are very far behind. Past that – the export market has been quiet and there was no fresh supportive news. Ethanol futures were lower.

The wheat complex was lower on fund and technical selling. 95% of winter wheat is planted and 87% has emerged, with warmer weather expected later this week. Also, the U.S. is expected to import feed wheat from France and the trade’s continuing to watch for new developments in Ukraine.