Commodities
Soybean Market Recovers as Corn and Wheat See Mixed Trade
The soybean market stabilized on Tuesday, recovering some of Monday's losses and regaining above $13 per bushel for part of the session. This came as corn and wheat saw mixed trade, with traders looking ahead to Wednesday's Grain Stocks report.
December corn ended the day a penny lower at $5.22 per bushel, while November soybeans closed up 9½ ¢ at $12.97¾ per bushel. December CBOT wheat closed up 4¢ at $6.92¾ per bushel, but December Kansas City and Minneapolis wheat were down 2¾¢ and 2½¢ respectively.
The U.S. Dollar Index December contract made new contract highs today, which is a headwind for U.S. exports. On the other hand, holding Monday's low could be a positive sign for soybeans in the rest of the week.