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Trading Environment Unfavorable for Grains

January 17, 2013 at 22:30 by Vladimir Vyun

Corn fell today as US exports declined and usage for making of fuel went down. Soybeans and wheat also dropped.

Exports of corn were 48 percent down last week from a year ago. Ethanol production fell to the record low, while inventories rose to the highest level in four weeks.

Rainy weather in South America will likely boost harvest, leading to further decrease of demand for US grains. Increasing supply and falling demand obviously create an unfavorable trading environment for the agricultural commodities.

March futures for delivery of corn fell $0.0675 (0.92 percent) to $7.2450 per bushel as of 22:24 GMT on CBoT today. Contract for wheat delivery retreated $0.0375 (0.48 percent) to $7.8125 per bushel and the prices for soybeans dropped $0.0625 (0.44 percent) to $14.3025 per bushel.

If you have any questions and comments on the commodities today, use the form below to reply.

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