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Veteran Contributor
Posts: 460
Registered: ‎09-09-2014
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Floor Talk April 27

[ Edited ]

At the close:

At the close, the July corn futures finished 2 1/2¢ higher at $3.69 1/4, while December futures finished 2 1/2¢ higher at $3.86 3/4. July soybean futures closed 3/4¢ higher at $9.57, November soybean futures ended 1/2¢ higher at $9.54. July wheat futures finished 4 3/4¢ higher at $4.31 1/4. July soy meal futures finished $1.10 per short ton higher at $314.80. July soy oil futures closed $0.20 lower at 31.96¢ per pound.  In the outside markets, the Brent crude oil market is $0.63 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 19 points higher.

 

 

Mike

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At mid-session:

At mid-session, the July corn futures are 1¢ higher at $3.67, while December futures are 3/4¢ higher at $3.85. July soybean futures are 3/4¢ higher at $9.57, November soybean futures are 1/4¢ higher at $9.54. July wheat futures are 1/2¢ higher at $4.27. July soy meal futures are $0.70 per short ton higher at $314.40. July soy oil futures are $0.13 lower at 32.03¢ per pound.  In the outside markets, the Brent crude oil market is $1.26 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 21 points lower.

 

 

Mike

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At 9:47am:

If you missed it, here are the totals from today's USDA Weekly Export Sales Report.

 

Corn= 999,000 metric tons vs. the trade’s expectations of 700,000-1,200,000 mt.

Soybeans: 880,400 mt. vs. the trade’s expectations of between 275,000-550,000 mt.

Wheat: 367,100 mt. vs. the trade’s expectations of 350,000-650,000 metric tons.

 

 

Mike

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At 9AM:

In early trading, the July corn futures are 1¢ higher at $3.68, while December futures are 1 1/2¢ higher at $3.85. July soybean futures are 3¢ higher at $9.59, November soybean futures are 1 3/4¢ higher at $9.55. July wheat futures are 1/4¢ higher at $4.26. July soy meal futures are $0.70 per short ton higher at $314.40. July soy oil futures are $0.07 higher at 32.23¢ per pound.  In the outside markets, the Brent crude oil market is $0.98 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 24 points higher.

 

Mike

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Corn and beans were little changed in overnight trading as investors are trying to decide whether to focus on the speedy planting or the weaker dollar. Corn is almost to the average and beans are well ahead, but the dollar is weaker, which may boost demand for US goods. It's really just a typical bull-bear scenario and nobody seems to be winning right now. Corn rose a penny while beans lost a penny. Wheat was up about the same. In weather news, it looks like there could be widespread snow starting today. Wyoming will be the first to get it, then Nebraska, Kansas and the Dakotas. By the end of the weekend the storm could be moving into Michigan and Indiana, according to forecasters.  

 
Here's what happened overnight:

 

Brent Crude Oil = down 1.7%.  

West Texas Intermediate Crude Oil = down 1.8%. 

Dollar = down 0.1%.

Wall Street = U.S. stock futures higher in pre-market trading.

World Markets = Global stocks lower as crude oil plunges.

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Senior Contributor
Posts: 264
Registered: ‎08-02-2012

Re: Floor Talk April 27

I personally am far more concerned with the weather than any other variable in this market. Extremely surprised why you all are not?? Rain makes grain right if you ever get it in the ground and if it is less than 8". Wow 😳
Advisor
Posts: 286
Registered: ‎01-16-2013
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Re: Floor Talk April 27

2.5 " flooding rain and hail yesterday.....5+ expected over weekend.   Alot of rain on corn and beans planted in last week.....not good.  

Honored Advisor
Posts: 14,402
Registered: ‎05-13-2010
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Re: Floor Talk April 27

Knock wood, so far we missed the 2"+ rain for NCIA, a little bita snow this morning, cold low 30`s.  Corn maybe 25% planted (and I feel sorry for it) some haven`t even scratched in the field yet.   Putting in corn is so high priced, you kind of want to do it right the first time....but I`ve seen it where the crazies that "plant too early" got the beautiful ankle high stuff well those of us that "wear suspenders and a belt" are muddin` it in at the end of May. 

 

If we get or had gotten precip measured in inches, as messed up and saturated this ground is, I wouldn`t doubt there`d be a little prevent plant.

Senior Contributor
Posts: 550
Registered: ‎05-13-2010
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The lost week

34* this morning with a NW wind at 20mph.  It is forecast to be in the 30's for lows the next five days with 2" of rain.  Not growing weather.  My guess is that 75% of corn planted around here with some beans planted also, seems we have lost  a week of growing weather.  

A long ways tell harvest.  Farming has always been a step of faith.

Yes, I agree, the weather is the most important variable in this market and one that we can not control, just learn to work with it.

Advisor
Posts: 466
Registered: ‎08-31-2012
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Re: The lost week

SCMN = also got a dusting of snow around Mankato this morning.  Nothing much moving in this area.

     Won't get anything out of the bag for at least another week.

Saturday Night = A chance of rain before 5am, then a chance of rain and snow. Mostly cloudy, with a low around 37.

     Northeast wind around 10 mph. Chance of precipitation is 50%. Little or no snow accumulation expected.

Sunday = Rain likely, possibly mixed with snow, becoming all rain after 9am. Cloudy, with a high near 41.

      Breezy, with a northeast wind 15 to 20 mph, with gusts as high as 30 mph. Chance of precipitation is 70%.

Sunday Night = Rain before midnight, then rain and snow between midnight and 2am, then snow likely after 2am. Low around 34.

     Breezy, with a north northeast wind 15 to 20 mph, with gusts as high as 30 mph. Chance of precipitation is 80%.

Monday = Snow likely before 11am, then rain and snow likely between 11am and 2pm, then a chance of rain after 2pm.

    Cloudy, with a high near 40. Breezy, with a north wind 15 to 20 mph, with gusts as high as 30 mph. Chance of precipitation is 70%.

Monday Night = A slight chance of rain, mixing with snow after 11pm, then gradually ending.

    Mostly cloudy, with a low around 34. West northwest wind 10 to 15 mph. Chance of precipitation is 20%.

Senior Contributor
Posts: 264
Registered: ‎08-02-2012

Re: Floor Talk April 27

A lot of disappointing news out there around the whole farm community. Just about a 4-5 day window here everybody was going like hell. Now everyone saying why, why didn't I wait until the winter was over. I stressed the soul temps to everyone two weeks ago. However just like dad used to say the only way to learn is to fail and make a note to never do that again. Best of luck to all we're going to need it now. On a plus side the market is responding accordingly corn +1 soybeans +1 wheat +1. Wake up CBOT!!!
Senior Contributor
Posts: 622
Registered: ‎11-20-2016
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Re: Floor Talk April 27

like the smart fella said "it's hard to find the time to plant it twice if you don't get going early". 29 degrees west of Mankato MN this morning at 8 am. Thousands of acres of corn planted in this area....should be a good test for which numbers have the best cold germ. Some corn was planted April 11th...it probably will have a couple of goosenecks in the sprout as the poor kernel tries to figure out whether to go up or down. I have barely started tillage, have fertilizer to apply, wont be planting for about ten days or so but I am always the slow one here.

Veteran Advisor
Posts: 2,481
Registered: ‎02-11-2013
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Re: Floor Talk April 27

Let's see, snow on young corn plants....Big rains
Comming for just planted crops, more beans
Sold and shipped than trade guess...Snow and
Freezing temps in wheat country.

Cbot up a penny
Veteran Advisor
Posts: 885
Registered: ‎05-13-2010
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Re: Floor Talk April 27

you were not going to do anything if corn went up 15 cents today