(Agriculture.com) – On Tuesday, the CME Group’s soybean market extends price rally for the second day in a row.
In early trading, the March corn futures are ¼¢ lower at $3.59, while May futures are ¼¢ lower at $3.66 per bushel.
January soybean futures are 10¢ higher at $10.53, while March soybean futures are 10¢ higher at $10.63.
March wheat futures are 1¢ higher at $4.09.
January soy meal futures are $2.50 short ton higher at $322.00. January soy oil futures are 0.16¢ higher at 37.83¢ per pound.
In the outside markets, the Brent crude oil market is $1.08 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 22 points lower.
On Tuesday, private exporters reported to the U.S. Department of Agriculture the following activity:
Export sales of 198,000 metric tons of soybeans for delivery to China during the 2016/2017 marketing year.
Export sales of 276,000 metric tons of corn for delivery to South Korea during the 2016/2017 marketing year.
Export sales of 378,000 metric tons of soybeans for delivery to unknown destinations. Of the total, 246,000 metric tons are for delivery during the 2016/2017 marketing year and 132,000 metric tons are for delivery during the 2017/2018 marketing year.
The marketing year for corn and soybeans began September 1.
