MARKET ANALYSIS

CORN, SOYBEAN PRICES CLOSE HIGHER OCTOBER

On Friday, a boatload of fresh soybean sales has the CME Group’s farm markets settled higher. At the close, the Dec. corn futures closed 5¾¢ higher at $5.68. March futures ended 5¢ higher at $5.76. May corn futures finished 4¾¢ higher at $5.79.  Nov soybean futures settled 2¢ higher at $12.35. Jan. soybean futures closed 3½¢ higher at $12.49. March soybean futures ended 3¢ higher at $12.59. Dec. wheat futures closed ¼¢ higher at $7.72 .

Dec. soymeal futures closed 1.70 per short ton higher at $332.60. Dec. soy oil futures finished 0.40¢ higher at 61.27¢ per pound. In the outside markets, the crude oil market is $0.55 per barrel higher at $83.36, the U.S. dollar is higher, and the Dow Jones Industrials are 15 points higher (+0.04%) at 35,746. On Friday, private exporters reported sales equating to 13.0 million bushels of soybeans and over 10.0 million bushels of corn “Corn is holding into positive gains whereas soybeans and wheat have yet managed to take a definitive position on the day’s trade.