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02-13-2014 07:53 AM - edited 02-13-2014 01:49 PM
At the close:
The March corn futures contract settled 1/4 of a cent higher at $4.40. The March soybean futures contract finished 21 cents higher at $13.44. March wheat futures closed 8 1/2 cents higher at $5.95 per bushel. The March soymeal futures contract finished $9.30 per short ton higher at $452.80. The March soyoil futures settled $0.55 higher at $39.54.
In the outside markets, the NYMEX crude oil is $0.06 per barrel higher, the dollar is lower and the Dow Jones Industrials are 67 points lower.
USDA projects $3.30 corn in its 10-year Agricultural Projections Thursday.
The March corn futures contract is trading 1/2 of a cent lower at $4.39. The March soybean futures contract is 16 cents higher at $13.39. March wheat futures are 5 1/4 cents higher at $5.92 per bushel. The March soymeal futures contract is trading $8.00 per short ton higher at $451.50. The March soyoil futures are trading $0.31 higher at $39.30.
In the outside markets, the NYMEX crude oil is $0.02 per barrel higher, the dollar is lower and the Dow Jones Industrials are 21 points higher.
One analyst is saying, "Beans are the leader. The trade wanted to see cancellations knocking down demand from China. The weekly export sales were 175,000 mt. That is about as bearish an overall number as you can get. But, it had a twist in the break down. It showed 301,000 mt were switched away to another port and decreases of previous exports of 326,000 mt clearly done by China. But, then it showed new exports of 320,000 mt. to China. They bought back as much as they got rid of. This report won't add any beans back to carryover wich is badly needed."
In early trading:
The March corn futures contract is trading 1/2 of a cent lower at $4.39. The March soybean futures contract is 10 cents higher at $13.33. March wheat futures are 3 1/4 cents higher at $5.90 per bushel. The March soymeal futures contract is trading $3.60 per short ton higher at $447.10. The March soyoil futures are trading $0.35 higher at $39.34.
In the outside markets, the NYMEX crude oil is $0.32 per barrel lower, the dollar is higher and the Dow Jones Industrials are 31 points lower.
Soybeans jump up 10¢.
USDA's Weekly Export Sales shows that corn beat, soybeans missed, and wheat came within the trade's expectations.
Corn=1.98 million tons vs. the trade's expectations of 400,000-1,100,000 metric tons.
Wheat= 626,600 tons vs. the trade's expectations of 250,000-850,000 metric tons.
Soybeans=296,200 tons vs. the the trade's expectations of 400,000-1,100,000 metric tons
Early calls: Corn is seen 1-2 cents higher, soybeans 2-4 cents higher, and wheat 1-2 cents higher.
Overnight grain, soybean markets=Trading higher.
ICE Brent Crude Oil=$0.36 per barrel lower.
Wall Street=Seen lower, as U.S. jobless claims rise.
World Markets=Asia/Pacific stocks were lower, Europe stocks lower.
More in a minute,
02-13-2014 08:28 AM
I figure it was a typo unless I missed some information
02-13-2014 10:00 AM
WOW! Securities have erased all their early losses, and now trading in positive territory. With the agreement on the debt ceiling last night, I would've thought it would've given an early boost to the stock market. But I didn't expect to see us erase 100 point losses in the DOW when we started that much lower this morning. This market continues to amaze me.
02-13-2014 11:17 AM
I know - until it ends. Interest rates look to stay low for the forseeable future. We all know that they can't stay at zero forever. There's probably going to bill to pay at the end of all this - hopefully it won't drop us back into third world status. It didn't take Russia long to go from a world power to bankrupcy. And they were doing the same thing we are - blowing up rocks in the Middle East. And that war was right next door....
02-13-2014 01:01 PM
USDA predicts $3.30 corn? Why is it only the bearish info that makes the headlines? Why don't they just predict the winner of the NCAA finals, the World Series, and next year's superbowl? They would have as much chance as being correct.