• Print
• E-Mail

Grains

Soybeans fell nearly 2-percent on Monday, with the May contract settling 22 cents lower at $12.55 a bushel. The new weather forecasts showing favorable planting conditions in the U.S. Midwest was the primary reason for sending the market lower today. Fears of planting delays sent soybeans 57 cents higher in the past three sessions.

Wheat closed over 5.7-percent lower with the May contract falling 53 cents to settle at $9.21 1/4 a bushel. Profit-taking after a nice rally to end last week, and favorable planting conditions sent the market significantly lower today.

Rice surged limit-up with the May contract settling 50 cents higher at $21 per hundredweight. Export bans, and tight global supplies continues to send rice to fresh record highs.

May corn fell 8 cents to settle at $5.90 a bushel, May soymeal settled $3.50 lower at $329.90 per short ton, and May soyoil settled 64 points lower at 55.97 cents a pound.

Softs

Orange juice futures jumped 5-percent with the may contract settling 5.50 cents higher at $1.1775 a pound. Short covering after the market declined about 30 percent since January, was noted for today's huge rally.

Cocoa settled higher for the third straight session with the July contract gaining $52 to settle at $2,351 a metric ton. Commercials and specs were active buyers today on what some were calling value prices.

May cotton settled 194 points higher at 72.80 cents a pound, May coffee settled 170 points higher at $1.3360 a pound, and May sugar settled 55 points higher at 12.12 cents a pound.

Meats