Afternoon Commodities Report from Allendale for July 26, 2012

Posted on July 26, 2012

US markets rallied for a 224.10 gain today after ECB President Mario Draghi announced that policy makers will do what’s necessary to keep the euro. Clearly the markets took him at his word. Too bad “what’s necessary to preserve the euro” isn’t specific. If it was we could hang our hat on it. Crop markets did not follow suit as corn, soybeans, and wheat were all down today in anticipation of more rain.

Recent Trading Prices (per bushel unless otherwise stated)

Contract Commodity Last Change
Dec 2012 Corn $7.7750 -0.1050
Sept 2012 Wheat $8.8475 -0.1850
Nov 2012 Soybeans $15.6625 -0.4925
Aug 2012 Soybean Oil (Metric Ton) $51.6600 -0.5800
Aug 2012 Soybean Meal (Metric Ton) $516.9000 -12.9000

Afternoon Commodities Report from Allendale

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