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Community Manager
marketeye
Posts: 3,123
Registered: ‎05-03-2010
0

Floor Talk July 2

[ Edited ]

Reminder: The USDA will release its July Supply-Demand Report on Friday 7/11/14 at 11 am.

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At the close:

Dec. corn 4 3/4 cents lower at $4.18

Nov soybeans 6 cents lower at $11.41

Sep. wheat 3 cents higher at $5.75.

 

Mike

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At mid-session:

 

The Dec. corn futures are trading 4 3/4 cents lower at $4.18.

 

 

 

Nov. soybean futures are trading  7 cents lower at $11.40.

Sep. wheat futures are 1/4 of a cent higher at $5.72.

 

 

 

The Dec. soymeal futures contract is trading $0.20 per short ton lower at $361.90. The Dec. soyoil futures are trading $0.41 lower at $38.82.
In the outside markets, the NYMEX Brent crude oil is $0.71 per barrel lower, the dollar is higher and the Dow Jones Industrials are 11 points higher.

 

Mike

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At the open:
The Dec. corn futures are trading 4 1/2 cents lower at $4.18.

 

Nov. soybean futures are trading  6 1/2 cents lower at $11.41.

Sep. wheat futures are 2 1/4 cents lower at $5.70.

 

The Dec. soymeal futures contract is trading $0.70 per short ton lower at $361.40. The Dec. soyoil futures are trading $0.34 lower at $38.89.
In the outside markets, the NYMEX Brent crude oil is $0.65 per barrel lower, the dollar is higher and the Dow Jones Industrials are 12 points higher.

 

Mike

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At 7:25am:

Early calls: Corn is seen 2-4 cents lower, soybeans 1-2 cents lower, and wheat 1-2 cents lower.

Trackers:
Overnight grain, soybean markets=Trading lower.

Brent Crude Oil=$0.42 per barrel lower.
Dollar= Higher.

Wall Street=Seen higher, as investors digest better June jobs numbers at 281,000 vs. 210,000 expected. Fed Chairman Yellen makes remarks today, as well.

World Markets=Europe stocks were higher, Asia/Pacific stocks were higher.

 

 

 

More in a minute,

 

Mike

Contributor
Reno31
Posts: 17
Registered: ‎03-08-2011
0

Re: Floor Talk July 2

Hi Mike, Do you happen to know what the bean price was last time we had 500 mil. carry out?

I would assume we have a long way to go to get to that price.

 
Frequent Contributor
CitiFarmer
Posts: 62
Registered: ‎06-27-2012
0

Re: Floor Talk July 2

Reno31, in 2006 the average U.S. cash price was $6.53 a bushel on soybeans with ending stocks of 565 million bushel or a 66.7 day ending supply based on 3.1 million bushel of demand.

 

If the 2014/2015 U.S. carryout rises to 500 mb and use stays at USDA's current 3.450 billion that would equate to an ending days of supply figure of 52.9 or at 80% of 2006's 66.7 days.

 

Hope this is what you were looking for.

If I knew for sure, I would not be working for a living.
Community Manager
marketeye
Posts: 3,123
Registered: ‎05-03-2010
0

Re: Floor Talk July 2

CitiFarmer,

 

Thanks for helping out with that information. I'm glad to see we have a well informed crowd here.

 

Thanks,

 

Mike