Dry Weather Expected During Peak Soybean Pollination Period

Posted on January 17, 2012


March corn opened at $6.0775 a bushel and traded in a range of $6.03 to $6.09 per bushel. The spike in gold, energy and equities provided support. Weather in South America remains bullish as only two rain events over the next two weeks are expected as we enter the peak pollination season for soybeans and rain is especially important during this time to make sure that the soybean crop does not see the same level of abandonment that the corn crop will see this growing season.

Source: The Weather Channel

Soybeans & Wheat

Soybeans opened at $11.74 and traded early between $11.7250 and $11.83 per bushel. Wheat opened higher by 0.0625 cents at $6.0850 per bushel. Wheat exports have been sluggish and that has put pressure on prices. There are also fears that Argentina and Australia could become more aggressive exporters.