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marketeye
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Registered: ‎05-03-2010
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Floor Talk March 11

[ Edited ]

At the close:

The May corn futures contract closed 5 cents higher at $4.83. The May soybean futures contract closed 5 3/4 cents lower at $14.13. May wheat futures finished 18 1/4 cents higher at $6.59 per bushel. The May soymeal futures contract settled $0.50 per short ton lower at $444.20. The May soyoil futures closed $0.11 lower at $43.75. In the outside markets, the ICE Brent crude oil is $0.20 per barrel higher, the dollar is higher and the Dow Jones Industrials are 76 points lower.

 

Mike

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At mid-session:

The May corn futures contract is trading 2 3/4 cents higher at $4.81. The May soybean futures contract is 5 3/4 cents lower at $14.13. May wheat futures are 11 1/4 cents higher at $6.52 per bushel. The May soymeal futures contract is trading $2.50 per short ton lower at $442.20. The May soyoil futures are trading $0.15 higher at $44.01. In the outside markets, the ICE Brent crude oil is $0.41 per barrel lower, the dollar is higher and the Dow Jones Industrials are 51 points lower.

 

One analyst says, "Wheat is the leader today, corn and soybeans are coming along for the ride.  Plus, stocks are tight and basis is holding very high.  There has been some buying associated with ideas that USDA will show tight supplies tomorrow.  Farmers sold last week but do not seem to be selling this week.  Not hearing of any new demand out there, in fact it seems we bring corn in from Argentina, or will be soon.  So, I think it is just some buying up front for the report and in sympathy with wheat."

 

Mike

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At 10:20am:

All farm markets have turned higher. Corn is up 2¢, soybeans are up 8¢, and wheat is up 11¢.

 

Mike

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In early trading:

The May corn futures contract is trading 1/2 of a cent lower at $4.77. The May soybean futures contract is 2 1/2 cents higher at $14.21. May wheat futures are 4 1/4 cents higher at $6.45 per bushel. The May soymeal futures contract is trading $0.20 per short ton lower at $444.50. The May soyoil futures are trading $0.10 higher at $43.96.
In the outside markets, the ICE Brent crude oil is $0.01 per barrel lower, the dollar is higher and the Dow Jones Industrials are 26 points lower.

 

Mike

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At 7:45am:

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

Trackers:
Overnight grain, soybean markets=Trading lower.

Brent Crude Oil=$0.20 per barrel higher.
Dollar=Higher.

Wall Street=Seen steady.

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

 


More in a minute,

 

Mike