04-20-2012 07:13 AM - edited 04-20-2012 03:42 PM
At the close:
The July corn futures closed 9 cents lower at $6.03. The July soybean contract settled 28 1/2 cents higher $14.49 1/2. The July wheat futures ended 7 cents lower at $6.23. The July soymeal futures ended $14.50 per short ton higher at $409.90. The July soyoil futures ended $0.69 higher at $56.28.
In the outside markets, the NYMEX crude oil is $0.89 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 73 points.
It's been said that if you can find a rally in April you should take the opportunity to sell.
Read this little diddy I pieced together on Sell, sell, sell?
The July corn futures trade 5 3/4 cents lower at $6.06 3/4. The July soybean contract is trading 5 1/2 cents higher $14.26 1/4. The July wheat futures are trading 6 cents lower at $6.24. The July soymeal futures are trading $1.10 per short ton higher at $396.50. The July soyoil futures are trading $0.36 higher at $55.95.
In the outside markets, the NYMEX crude oil is $1.50 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 113 points.
The markets have weakened.
The July corn futures trade 1/4 of a cent lower at $6.11 3/4. The July soybean contract is trading 5 1/2 cents higher $14.26 1/4. The July wheat futures are trading 3 3/4 cents lower at $6.26 1/4. The July soymeal futures are trading $1.60 per short ton higher at $397.00. The July soyoil futures are trading $0.30 higher at $55.89.
In the outside markets, the NYMEX crude oil is $1.73 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 106 points.
At the open:
The July corn futures trade 5 cents higher at $6.16 1/4. The July soybean contract is trading 8 cents higher $14.29. The July wheat futures are trading 3 1/2 cents higher at $6.33 1/2. The July soymeal futures are trading $2.90 per short ton higher at $397.70. The July soyoil futures are trading $0.35 higher at $55.93.
In the outside markets, the NYMEX crude oil is $1.76 per barrel lower, the dollar is lower and the Dow Jones Industrials are up 81 points.
World buyers see corn cheap enough to start loading up on it. On Friday, South Korea feedmiller buys 69,000 mt of opttional-origin corn.
Also, there is talk that China has secured between 400,000-1.0 mt of U.S. corn this week. And, the Asian country may be headed towards capturing 4.0 mmt of U.S. corn when the price is right, according to one analyst Friday.
Early calls: Corn 4-6 cents higher, soybeans 5-7 cents higher, and wheat 1-2 cents higher.
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.61 per barrel higher.
Wall Street=Seen trading with solid earnings reported Friday.
World Markets=Asia/Pacific mixed, while Europe's stocks are higher.
More in a minute,
04-20-2012 11:04 AM
Hey Mike. Thought you might be getting lonely if somebody didn't respond soon. I don't post much, but really appreciate the information. Too windy and cool to spray today, going to haul some corn to town. Sold last month for April delivery. It always feels good to know you sold higher than the price at delivery time. Thanks for everything you do. Patrick
04-20-2012 11:11 AM
Thanks for your kind words. Just trying to pump out what information I can. By the way, are you having a tough time to sell right now? It seems the old-crop prices are trying to get the farmer to sell, but the new-crop prices are hard to forward-price yet with so many unknowns. What's your thinking and what made you decide to sell now.
That same question goes out to anyone else that wants to answer it. Thanks for the feedback.
04-20-2012 11:31 AM
Just waiting on the calender here, cold wet on the way so we will plant after. Still have old crop corn, waiting on a rally to 7. Chinese rumor again today where is the rally? I have sold new crop beans out of the field at $13 plus. No new crop corn sales yet, but I have enough storage to keep it all into 2013, will wait until later this spring/summer to price any.
04-20-2012 11:55 AM
Mike the corn crop here in Southern Michigan and Northeast Indiana is being planted at a quick pace. Some of the big guys around here are running both corn and bean planters this week. I got my corn planted earlier this week and may start in with soybean planting next week if the weather is right. I think we are seeing the best field conditions for planting we have seen in years this year. With most fields being tillied in some way its hard to tell whether we will see more corn or more soybeans this year around here.