02-05-2013 06:24 AM - edited 02-05-2013 02:40 PM
At the close:
The March futures corn contract settled 5 cents lower at $7.29. The March soybean futures contract settled 6 cents higher at $14.95. March wheat futures finished 5 cents lower at $7.57 per bushel. The March soyoil futures contract ended$0.13 lower at $52.98. The March soymeal futures finished $4.20 per short ton higher at $438.50.
In the outside markets, the NYMEX crude oil is $0.53 per barrel higher, the dollar is lower and the Dow Jones Industrials are 117 points higher.
The March futures corn contract is trading 8 cents lower at $7.25. The March soybean futures contract is trading 1 cent lower at $14.88. March wheat futures are trading 10 cents lower at $7.52 per bushel. The March soyoil futures contract is trading $0.20 lower at $52.91. The March soymeal futures are trading $0.70 per short ton higher at $435.00.
In the outside markets, the NYMEX crude oil is $0.69 per barrel higher, the dollar is lower and the Dow Jones Industrials are 119 points higher.
In early trading;
The March futures corn contract is trading 7 cents lower at $7.27. The March soybean futures contract is trading 3 cents lower at $14.85. March wheat futures are trading 5 cents lower at $7.57 per bushel. The March soyoil futures contract is trading $0.16 lower at $52.95. The March soymeal futures are trading $0.50 per short ton lower at $433.80.
In the outside markets, the NYMEX crude oil is $0.74 per barrel higher, the dollar is lower and the Dow Jones Industrials are 119 points higher.
--No fresh export sales Tuesday.
--The trade wires are all talking about this Friday's USDA Report. Essentially, the report is expected to show lower corn export projections, higher corn stocks, lower soybean stocks, and maybe a drop in South America's crop estimates, namely Argentina's corn and soybeans. What say you?
--Russia is selling 60,075 tons of Intervention grain. It also has removed its 5% grain import duty until mid-summer. Apparently, big companies have plenty of grain supplies. No export ban threat there, I guess.
--Ukraine announced Tuesday that its grain exports, for the marketing year to January 31, jumped 46% vs. a year ago. The total grain exported is estimated at 16.0 mmt, and most of it was corn, followed by wheat and barley. More competition for U.S. corn on the world stage.
Early calls: Corn is seen 1-2 cents lower, soybeans 2-4 cents higher, and wheat steady.
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.54 per barrel higher.
Wall Street=Seen higher, ahead of December home prices report. Some company earnings will also be watched.
World=Asia/Pacific stocks were lower and Europe's stocks higher.
More in a minute,
02-05-2013 02:13 PM - edited 02-05-2013 02:33 PM
The image below shows the availability of water in the soil for Argentins's crops, according to our source in Cordoba, Argentina. He says, "Indeed the situation is very critical and our area started having losses in crop yields. There are areas that are a little better off, as far as ground water and the crops drink water there. But, very few fields have that situation, according to our Argentinian source.
02-05-2013 02:28 PM
Dang -- that map looks like Indiana did last summer ! BTW Do's anybody know what time frame there beans on in down there ? Like when is there Aug. ? That time frame is the game changer ! Rain during time when dry matter is put on is the key .
02-05-2013 02:30 PM
a picture is worth a thousand words, as they say.
.....That is profound, however, the world drought monitor kind of indicated they were headed in that direction 30 days ago.
.....interesting assosoiation - the driest area is SIMILAR in proportion to U.S. ie. about two thirds....another sign and wonder that mother Earth is Still in a unique MACRO climate extreme.
thanks for the image Mike,
02-05-2013 02:37 PM
Soybeans are all set to go higher.......Just made a sale today of a few old crop beans..... You are all welcome.