Dec 02, 2021

Grain Futures Regain Ground as Coronavirus Worries Ease

Futures paired gains late in session on report of first U.S. Omicron case

Chicago wheat futures turned higher midweek, recouping some of their steep losses from the previous session, as investor concerns that the Omicron coronavirus variant would derail the global economy began to ease, reports Reuters.

Corn and soybeans also regained ground on end-user buying, traders said, following hopes of export buyers looking for deals as soymeal futures led the soy complex higher on the day.

But futures paired gains late in the session, after a government official announced that the first U.S. case of the Omicron variant of COVID-19 has been detected in California.

CBOT soybeans closed the day up 11 cents at $12.28-1/4 a bushel, while most-active January soymeal closed $7.30 higher at $349.10/ton.

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Magazine

Marketwatch: May, 28

US Corn Price Idx: ZCPAUS.CM

open: 7.6273
high: 7.741
low: 7.6223
close: 7.7113

US Soybean Price Idx: ZSPAUS.CM

open: 16.9414
high: 17.1044
low: 16.9237
close: 16.9795

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 11.718
high: 11.9549
low: 11.658
close: 11.7977

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 10.8628
high: 11.0906
low: 10.8128
close: 10.9646