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marketeye
Posts: 3,178
Registered: ‎05-03-2010
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Floor Talk June 26

[ Edited ]

At the close:

The July futures corn contract settled 8 cents higher at $6.64. New-crop Dec. corn futures finished 1 cent lower at $5.44. The July soybean futures contract closed 9 cents higher at $15.34, new-crop Nov. soybeans ended 3 cents lower at $12.76.  July wheat futures closed 9 cents lower at $6.67 per bushel. The July soymeal futures finished $4.50 short ton higher at $463.30. The July soyoil futures ended $0.51 lower at $46.63.
In the outside markets, the NYMEX crude oil is $0.21 per barrel lower, the dollar is higher and the Dow Jones Industrials are 137 points higher.

 

Mike

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At mid-session:

The July futures corn contract is 6 cents higher at $6.63. New-crop Dec. corn futures are trading 1 cent higher at $5.46. The July soybean futures contract is trading 1 cent higher at $15.25., new-crop Nov. soybeans are trading 8 cents lower at $12.69.  July wheat futures are trading 5 cents lower at $6.71 per bushel. The July soymeal futures are trading $0.30 short ton lower at $458.50. The July soyoil futures are trading $0.53 lower at $46.61.
In the outside markets, the NYMEX crude oil is $0.98 per barrel lower, the dollar is higher and the Dow Jones Industrials are 80points higher.

 

Mike

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At 9:45am:

Corn and wheat are trading higher, while soybeans are falling.

 

Separately, the DJ Newswire reports that Argentina has released 16.0 million tons of corn for export in 2013-14 marketing year. More corn on the world market. Is this a reasonswhy the U.S. doesn't need to grow a record crop? Will the market see it that way?

 

 

Mike

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At the open:

The July futures corn contract is 6 cents higher at $6.63. New-crop Dec. corn futures are trading 1 cent higher at $5.46. The July soybean futures contract is trading 3 cents lower at $15.22., new-crop Nov. soybeans are trading 4 cents lower at $12.74.  July wheat futures are trading 3 cents higher at $6.78 per bushel. The July soymeal futures are trading unchanged at $458.80. The July soyoil futures are trading $0.08 lower at $47.06.
In the outside markets, the NYMEX crude oil is $0.32 per barrel lower, the dollar is higher and the Dow Jones Industrials are 134 points higher.

 

Mike

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At 5:40am:

--Russia's grain exports through June 20 are down 40% vs. a year ago.

--Ukraine's grain harvest is underway. Up to June 25, the country's harvested grain totals 2.19 million tons, up from a year ago. This year, Ukraine is expected to harvest 53-54 million tons vs. 46.2 million tons a year ago, according to the Dow Jones Newswire Wednesday.

--Japan seeks 320,000 tons of feed wheat, barley.

--S. Korea bought 120,000 tons of Black Sea-origin wheat Wednesday.

--Although one analyst says the number will be higher than the trade thinks, due to lack of demand, Friday's USDA U.S. corn stocks estimate is seen to come in at a 16-year low.

 

 

Mike

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At 5:30am:

 

Early calls:  Corn is seen 4-6 cents higher (old-crop), soybeans 7-9 cents lower (old-crop), and wheat 1-2 cents higher. Meanwhile, new-crop corn 1-2 cents higher and soybeans are seen 7-9 cents lower.

 

Trackers:
Overnight grain, soybean markets=Trading mostly higher.
Crude Oil=$0.42 per barrel lower
Dollar=Higher.
Wall Street=Seen higher, as the U.S. eonomic data is supportive. Will this spark the Fed to taper bond-buying sooner than expected? A Fed president will speak today to CNBC. Although, he is not a voting member of the Federal Reserve this year.

World=Asia/Pacific stocks were higher and Europe's stocks are higher.

 

 

What say you about all of this?

 

More in a minute,

 

Mike

Senior Advisor
ECIN
Posts: 2,060
Registered: ‎10-17-2012
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Re: Floor Talk June 26

At 5:40am:

--Russia's grain exports through June 20 are down 40% vs. a year ago.

 

That makes since -- they sold all there old wheat in the winter - remeber - they sort of cut off sells .

 

--Ukraine's grain harvest is underway. Up to June 25, the country's harvested grain totals 2.19 million tons, up from a year ago. This year, Ukraine is expected to harvest 53-54 million tons vs. 46.2 million tons a year ago, according to the

 

Well there go's South Korea , Japan ,  Tiwan  and who ever , U.S. sells -- say good by - or as my good friend DB-51 would say -- Were screwed !

 

 

Dow Jones Newswire Wednesday.

--Japan seeks 320,000 tons of feed wheat, barley.

 

--S. Korea bought 120,000 tons of Black Sea-origin wheat Wednesday.

 

Reread above post on Ukraine production

 

--Although one analyst says the number will be higher than the trade thinks, due to lack of demand, Friday's USDA U.S. corn stocks estimate is seen to come in at a 16-year low.

 

Sorry here --- but --- NO CHIT !  Just shaken my head on that one .

 

Mike

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At 5:30am:

 

Early calls:  Corn is seen 4-6 cents higher (old-crop), soybeans 7-9 cents lower (old-crop), and wheat 1-2 cents higher. Meanwhile, new-crop corn 1-2 cents higher and soybeans are seen 7-9 cents lower.

 

 

Soybeans = new -- this is nothing compared to what we will see after the report - you know all them extra acres will be counted in --at  what 50 per acre ? lol

 

Trackers:
Overnight grain, soybean markets=Trading mostly higher.
Crude Oil=$0.42 per barrel lower
Dollar=Higher.
Wall Street=Seen higher, as the U.S. eonomic data is supportive. Will this spark the Fed to taper bond-buying sooner than expected? A Fed president will speak today to CNBC. Although, he is not a voting member of the Federal Reserve this year.

World=Asia/Pacific stocks were higher and Europe's stocks are higher.

 

 Don't have a clue on this -- 

 

 

What say you about all of this?

 

And that's what I have to say - Thank you very much

 

Friend
wd31981
Posts: 2
Registered: ‎09-11-2012
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Re: Floor Talk June 26

Is the Argentina corn export news unexpected?  According to USDA Argentina exported 17.15 million tons in 2011/2012, 19 million tons in 2012/2013, and is expected to export 18.50 million tons in 2013/2014.  Sounds like someone just trying to make a story.