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07-02-2013 07:24 AM - edited 07-02-2013 02:09 PM
At the close:
The Sept. futures corn contract settled 2 cents higher at $5.33. New-crop Dec. corn futures ended 2 cents higher at $5.02. The Aug. soybean futures contract closed 3cents lower at $14.33, new-crop Nov. soybeans finished 1 cent lower at $12.42. Sept. wheat futures finished 3 cents higher at $6.58 per bushel. The Aug. soymeal futures settled unchanged at $432.90. The Aug. soyoil futures finished $0.01 higher at $46.83.
In the outside markets, the NYMEX crude oil is $1.69 per barrel higher, the dollar is higher and the Dow Jones Industrials are 73 points lower.
The Sept. futures corn contract is trading 4 cents lower at $5.28. New-crop Dec. corn futures are trading 2 cents lower at $4.99. The Aug. soybean futures contract is trading 1 cent lower at $14.34., new-crop Nov. soybeans are trading 1 cent lower at $12.41. Sept. wheat futures are trading 4 cents higher at $6.58 per bushel. The Aug. soymeal futures are trading $1.70 short ton higher at $434.60. The Aug. soyoil futures are trading$0.29 lower at $46.53.
In the outside markets, the NYMEX crude oil is $0.55 per barrel higher, the dollar is higher and the Dow Jones Industrials are 30 points higher.
One analyst says, "Still have a short squeeze in July corn. Cash down since Thursday because it is pegged to the Sept futures. Corn basis also weaker due to elevators unloading July corn rather than roll into the September inverse. That should clear up in a few days. There is still good demand for old crop beans. Meanwhile, pork cutouts strong again this morning, with ribs setting a new all time high (I think)."
--No fresh sales of U.S. corn, soybean or wheat Tuesday.
--Corn harvest is starting in Texas.
--CME group reports a higher overall volume of traded contracts in June vs. a year ago. However, CME Group agricultural commodities volume in June 2013 averaged 1.2 million contracts per day, down 18 percent compared with the prior-year period, despite a quarterly average daily volume record in Soybean Meal futures.
At the open:
The Sept. futures corn contract opened 1 cent higher at $5.32. New-crop Dec. corn futures opened 2 cents higher at $5.03. The Aug. soybean futures contract opened 1 cent higher at $14.36., new-crop Nov. soybeans opened 3 cents higher at $12.46. Sept. wheat futures started 4 cents higher at $6.59 per bushel. The Aug. soymeal futures opened $2.30 short ton higher at $435.20. The Aug. soyoil futures opened $0.13 lower at $46.69.
In the outside markets, the NYMEX crude oil is $0.18 per barrel higher, the dollar is higher and the Dow Jones Industrials are 20 points lower.
Early calls: Corn is seen 2-4 cents higher (old-crop), soybeans 2-4 cents higher (old-crop), and wheat 10-12 cents higher. Meanwhile, new-crop corn 3-5 cents higher and soybeans are seen 4-6 cents higher.
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.12 per barrel higher.
Wall Street=Seen higher, ahead of U.S. Factory Orders Report.
World=Asia/Pacific stocks were mixed and Europe's stocks are lower.
More in a minute,
07-02-2013 10:21 AM
HHHHHEEEEEEEEEEYYYYYYYYY Mike -- I think a few months ago you posted up pictures of corn down in Texas that was ? like knee high or so -- Just wondering -- how that corn looks today . Any chance of posting up some new ones ? Thanks .
Also - ole wisw one -- do's Informa come out this week with there report ? Maybe Weds. ? That shold help the market out = like down .
Fall Price here at MTG Bunge = 4.73 - headed to what ? 4.20 or so by then .
World corn was raised ? from better Black Sea corn and SA
Even a Iowa , MO, MN mess can't even help us out .
07-02-2013 11:41 AM
Farmer in central Iowa we do biz with is in second year of farming in NE Texas (Paris area, I think)
started harvest on July 18 last year and says it will be around August 1 this year....