- Agriculture.com Community
- Announcements & Forum Help
- Farm Business
- Young & Beginning Farmers
- Cattle Talk
- Crop Talk
- Hog Talk
- Machinery Talk
- Machinery Marketplace
- Shops, buildings and bins
- Ask the SF Engineman!
- Computers & more
- Precision Agriculture
- People & Rural Life
- Ag Forum
- Women In Ag
- Agriculture.com Blogs
- Your Farm in the Future
- Women in Ag: Lisa Foust Prater
- Women in Ag: Brenda Frketich
- Women in Ag: Anne Miller
- Women in Ag: Jennifer Dewey
- Women in Ag: Talkin' Turkey with Lara Durben
- Women in Ag: Heather Lifsey Barnes
06-19-2013 06:06 AM - edited 06-19-2013 02:29 PM
At the close:
The the July futures corn contract closed 9 cents higher at $6.82. New-crop Dec. corn futures setttled 20 cents higher at $5.70. The July soybean futures contract ended 12 cents higher at $15.23, new-crop Nov. soybeans closed 21 cents higher at $13.10. July wheat futures finished 19 cents higher at $7.07 per bushel. The July soymeal futures closed $1.80 per short ton higher at $453.60. The July soyoil futures ended $0.54 higher at $49.35.
In the outside markets, the NYMEX crude oil is $0.05 per barrel lower, the dollar is higher and the Dow Jones Industrials are 71 points lower.
It's a weather market, traders tell me. Separately, Fed Chairman Ben Bernanke is not going to stop or putting $85 billion of jack into the U.S. economy.
Why the sharp turnaround in the markets this morning? The word on the floor is that "the summer drought starts today". A new forecast has the heat ridge building, and the popular phrase on the floor is "the drought starts today".
Plus, the cash basis remains strong.
Up she she goes!
--EIA reports Wednesday that less amounts of ethanol was produced this week at 873,000 barrels, vs. 884,000 barrels a week ago. Ethanol stocks are going higher too. So, less made but more piling up. That must mean less usage of ethanol?
Farm markets turn higher. The the July futures corn contract is 1 cents higher at $6.74. New-crop Dec. corn futures are trading 5 cents higher at $5.55. The July soybean futures contract is trading 1 cent higher at $15.11, new-crop Nov. soybeans are trading 3 cents higher at $12.93. July wheat futures are trading 5 cents higher at $6.92 per bushel. The July soymeal futures are trading $1.50 per short ton lower at $450.30. The July soyoil futures are trading $0.10 higher at $48.91.
In the outside markets, the NYMEX crude oil is $0.08 per barrel higher, the dollar is lower and the Dow Jones Industrials are 6 points lower.
At the open:
At the open, the the July futures corn contract is 6 cents lower at $6.67. New-crop Dec. corn futures are trading 2 cents lower at $5.48. The July soybean futures contract is trading 3 cents lower at $15.07, new-crop Nov. soybeans are trading 3 cents lower at $12.86. July wheat futures are trading 2 cents lower at $6.85 per bushel. The July soymeal futures are trading $2.00 per short ton lower at $449.80. The July soyoil futures are trading $0.08 higher at $48.89.
In the outside markets, the NYMEX crude oil is $0.05 per barrel higher, the dollar is lower and the Dow Jones Industrials are 11 points lower.
--S. Korea buys 60,000 tons of South American soymeal Wednesday.
--Ukraine's minister announces Wednesday that its country's 2013 grain exports totaled 23.0 million metric tons vs. the expected 24.4 mmt.
--In the U.S., the early season 'garden spots' are where? I'm guessing the extreme parts of the Midwest. For example, eastern Illinois, Indiana and Ohio look pretty good and western Iowa and Nebraska. But it's the stuff in the middle that's deficient of growing degree days? Would that be a close summation of the crop growing picture? What say you?
Early calls: Corn is seen 5-7 cents lower (old-crop), soybeans 1-2 cents higher (old-crop), and wheat 2-4 cents lower. Meanwhile, new-crop corn 1-2 cents lower and soybeans are seen 1-2 cents higher.
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.47 per barrel higher.
Wall Street=Seen higher, ahead of the U.S. Fed Reserve's monetary policy announcement. It's simple. The question is whether or not the Fed will keep pumping $85 billion per month into the economy. We'll know this afternoon. Investors are nervous.
World=Asia/Pacific stocks were lower and Europe's stocks are lower.
More in a minute,
06-19-2013 06:37 AM
06-19-2013 08:14 AM
Mike I am 3 hours east of you. The corn and soybeans here are looking excellent for the time being. The corn is knee to waist tall depending on the field. Northern Indiana and NW Ohio have some of the nicest stands I can remember for this time of year. Its early in the ballgame though. The weather in July and August could burst our hopes of a bin buster.
06-19-2013 10:11 AM