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Community Manager
marketeye
Posts: 3,180
Registered: ‎05-03-2010
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Floor Talk August 8

[ Edited ]

SLIDESHOW: MDA Weather Crop Tour finds decent Iowa crops

 

 

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At the close:

The Sept. futures corn contract settled 5 cents higher at $4.73. The Dec. corn futures contract ended 1 cent higher at $4.59. The Sep. soybean futures contract finished 28 cents higher at $13.55, new-crop Nov. soybeans closed 18 cents higher at $11.84. Sept. wheat futures closed 2cents lower at $6.41 per bushel. The Dec. soymeal futures finished $9.40 per short ton higher at $356.80. The Dec. soyoil futures settled unchanged at $42.10. 
In the outside markets, the NYMEX crude oil is $0.84 per barrel lower, the dollar is lower and the Dow Jones Industrials are 42 points higher.

 

Mike

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At mid-session:

At mid-session, the Sept. futures corn contract is 5 cents higher at $4.73. The Dec. corn futures contract is 2 cents higher at $4.60. The Sep. soybean futures contract is trading 17 cents higher at $13.44, new-crop Nov. soybeans are trading 14 cents higher at $11.80. Sept. wheat futures are trading 2 cents lower at $6.41 per bushel. The Dec. soymeal futures are trading $7.40 per short ton higher at $354.80. The Dec. soyoil futures are trading unchanged at $42.10. 
In the outside markets, the NYMEX crude oil is $1.64 per barrel lower, the dollar is lower and the Dow Jones Industrials are 90 points higher.

 

One analyst says, "It appears that we are experiencing some short covering ahead of the report and rallying in response to the oversold conditions."

 

Mike

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At the open:

At the open, the Sept. futures corn contract is 5 cents higher at $4.73. The Dec. corn futures contract opened 4 cents higher at $4.62. The Sep. soybean futures contract is trading 21 cents higher at $12.19, new-crop Nov. soybeans are trading 14 cents higher at $11.80. Sept. wheat futures are trading 1 cent higher at $6.44 per bushel. The Dec. soymeal futures are trading $7.00 per short ton higher at $354.30. The Dec. soyoil futures are trading $0.26 higher at $42.36. 
In the outside markets, the NYMEX crude oil is $0.53 per barrel lower, the dollar is lower and the Dow Jones Industrials are 80 points higher.

 

Mike

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At 7:50am:

 

USDA's Weekly Export Sales Report shows soybeans beating expectations:

 

Wheat= 726,200 metric tons vs. the trade's expectations of 500,000-750,000 metric tons

Corn=511,000 mt vs. the trade's expectations of between 600,000-1,000,000 metric tons

Soybeans= 1.099 million metric tons vs. the trade's expectations of between 550,000-1,050,000 metric tons

 

Mike

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At 7:45am:
Early calls: Corn is seen 5-7 cents higher (old-crop), soybeans 3-5 cents higher (old-crop), and wheat 2-4 cents higher. Meanwhile, new-crop corn 4-6 cents higher and soybeans are seen 10-12 cents higher.

Trackers:
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.15 per barrel lower.
Dollar=Lower.
Wall Street=Seen higher, despite the U.S. Jobless Claims rising to 333,000.
World=Asia/Pacific stocks were mostly higher and Europe's stocks are mostly higher.


More in a minute,

 

Mike

Esteemed Advisor
sw363535
Posts: 4,643
Registered: ‎07-18-2011
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Re: Floor Talk August 8

Nice start Mike,

 

You can keep your lunch money today!   :smileyhappy:

sw
Community Manager
marketeye
Posts: 3,180
Registered: ‎05-03-2010
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Re: Floor Talk August 8

sw363535,

 

Thanks. I'm working for the lunch money, baby.

 

Mike

Esteemed Advisor
sw363535
Posts: 4,643
Registered: ‎07-18-2011
0

Re: Floor Talk August 8

SW got an iowa rain last night.  The first good(over 1.5inches) general rain in 3 years.  A start toward changing that drought map we have been stuck with for three years.  

 

Sorry for the personal weather report,  but markets are up again and we all know how boring that can be::::::      :smileyhappy:

sw
Community Manager
marketeye
Posts: 3,180
Registered: ‎05-03-2010
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Re: Floor Talk August 8

Parts of southern Missouri received over 6-inches. Too much!

Senior Contributor
Canuck_2
Posts: 4,206
Registered: ‎05-10-2010
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Re: Floor Talk August 8

Keep getting 'dry rains' here.

Trace to maybe 3mm.

Keeps the hay and wheat wet but does not add much to the total.

 

And all around me they get the thunderstorms with too much rain.

 

Not sure if I am in a garden pocket or not because we are on the edge of too dry all season.

Fall will tell the tale although wheat yield was well above average and mostly feed quality so it all evens out.

Knowledge is knowing a tomato is a fruit.
Wisdom is knowing not to put it in a fruit salad.
Contributor
Riverlandfrmr
Posts: 27
Registered: ‎06-03-2013
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Re: Floor Talk August 8

Mostly rocks and hills down there. Still nothing in our area. Really need a good soaker here in central mo.