DES MOINES, Iowa -- On Tuesday, the CME Group’s farm markets lack any bullish news, outside of demand, to go higher.
At the open, the September corn futures are 1¢ lower at $3.10, while December futures are ½¢ lower at $3.20 per bushel.
September soybean futures are 3 3/4¢ lower at $9.79, while November soybean futures are 1¢ lower at $9.63.
September wheat futures are 1/4¢ lower at $3.70.
September soy meal futures are 80¢ short ton lower at $318.70. September soy oil futures are 0.09¢ lower at 32.72¢ per pound.
In the outside markets, the Brent crude oil market is 35¢ per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 19 points lower.
The USDA Crop Progress Report provided the bears with more ammunition, pegging an improved soybean good/excellent rating and a still strong corn rating.
On Tuesday, private exporters reported to the U.S. Department of Agriculture export sales of 126,000 metric tons of soybeans for delivery to unknown destinations during the 2016/2017 marketing year.
The marketing year for soybeans began September 1.
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