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Community Manager
marketeye
Posts: 2,894
Registered: ‎05-03-2010
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Floor Talk February 24

[ Edited ]

At the close:

The May corn futures settled 1 1/4 cents higher at $6.44. The May soybean contract closed 3 1/4 cents higher at $12.86 3/4. The May wheat futures finished 1/4 of a cent higher at $6.41 1/4.  The May soymeal futures settled $0.90 per short ton higher at $336.20. The May soyoil futures ended $0.06 higher at $54.65.
In the outside markets, the NYMEX crude oil is $1.67 per barrel higher, the dollar is lower and the Dow Jones Industrials are down 22 points.

 

Mike

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At 12:30pm:

One analyst says, "Well, it has been a very quiet day, so far.  The Outlook Conference produced no surprises that I could see.  The corn and soybean estimates showed little change from earlier in the month.  Wheat showed the increased production and ending stocks, but this should not be a shock after the higher planted area estimate released yesterday.  Export sales were strong but generally within expectations. Talk of China here for beans and corn, but of course nothing confirmed.  Some spec action back and forth, very little commercial action from me so far."

 

Mike

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At mid-session:

The May corn futures trade 2 cents lower at $6.40 1/2. The May soybean contract is trading 4 1/2 cents higher at $12.88. The May wheat futures are trading 5 cents lower at $6.36.  The May soymeal futures are trading $2.10 per short ton higher at $335.00. The May soyoil futures are trading $0.20 lower at $54.57.
In the outside markets, the NYMEX crude oil is $0.46 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 24 points.

 

Mike

------

At the open:

The May corn futures trade 2 1/4 cents lower at $6.40 1/4. The May soybean contract is trading 6 1/2 cents higher at $12.90. The May wheat futures are trading 1/4 of a cent lower at $6.40 1/4.  The May soymeal futures are trading $3.20 per short ton higher at $338.40. The May soyoil futures are trading $0.80 higher at $54.66.
In the outside markets, the NYMEX crude oil is $0.69 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 56 points.

 

Mike

--------------

 

At 7:30am:

USDA Weekly Export Sales released Friday are within to slightly behind expectations.

 

Corn=840,800 mt, below the trade's expectations of 1.0 mmt

Soybeans= 3.03 mmt, just below the trade's expectations of between 3.5 to 3.9 mmt

Wheat=757,400 mt, within the trade's expectations of 700,000 metric tons.

 

 

Mike

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At 6:35am:

Early calls: Corn 4-6 cents lower, soybeans 2-4 cents lower, and wheat 2-4 cents lower.

 

Trackers:
Overnight grain, soybean markets=Trading lower.
Crude Oil=$0.52 per barrel higher.
Dollar=Lower.
Wall Street=Seen trading higher as more improved domestic economic reports are expected Friday.

World Markets=Higher.

 

 

 

More in a minute,

 

Mike

Community Manager
marketeye
Posts: 2,894
Registered: ‎05-03-2010
0

Re: Floor Talk February 24

If you missed the Ag Outlook numbers, here is a nice compiled list of all major crops, according to the Dow Jones Newswire.

 

Record area for U.S. major crops

 

Thanks,

 

Mike

Veteran Advisor
roarintiger1
Posts: 1,426
Registered: ‎04-29-2011
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Re: Floor Talk February 24

Adds up to 242.8 million acres for the major crops.  Might have to question that a bit.

"Failing to prepare is preparing to fail." "Success happens when preparation meets opportunity"
Veteran Advisor
Mizzou_Tiger
Posts: 2,183
Registered: ‎11-02-2010
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Re: Floor Talk February 24

USDA is full of...............fecal matter.........but you know what........let em dream.............
Contributor
4speed
Posts: 7
Registered: ‎09-09-2010
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Re: Floor Talk February 24

you got it Tiger, anybody that believes 164 avg is out to lunch

Veteran Contributor
unlgrad
Posts: 92
Registered: ‎06-08-2010
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Re: Floor Talk February 24

We can do it, I know we can, it just takes the right weather, we are due.  No guarantees that we will, but right now, we still have a shot of doing it.  In 6 months, we will know more.  Besides this guess, it can change in March, June and next January and even in Jan. 14.  Bound to be close by then.    Good luck to all this season, hopefully all will have great weather for planting and harvesting.     Still one of the best jobs in the world, just ahead of the SI swimsuit photograhper.  Maybe not quite as good as a major league baseball  player.  "But i love baseball.