At the close:
At the close, the May corn futures finished 5 1/2¢ lower at $3.26. July corn futures closed 4¢ lower at $3.32 1/4.
May soybean futures closed 7 3/4¢ lower at $8.47. July soybean futures finished 6 3/4¢ lower at $8.55 1/4.
May wheat futures ended 6 1/2¢ lower at $5.48 3/4.
July soymeal futures closed $1.10 per short ton lower at $287.50.
May soy oil futures ended $0.16 cents lower at 26.74¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.84 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 570 points higher.
Mike
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At midsession:
At midsession, the May corn futures are 2 1/2¢ lower at $3.29. July corn futures are 1 1/4¢ lower at $3.29.
May soybean futures are 5 3/4¢ lower at $8.48 1/4. July soybean futures are 5 1/2¢ lower at $8.56 1/4.
May wheat futures are 6 1/2¢ lower at $5.49.
July soymeal futures are $2.20 per short ton lower at $286.40.
May soy oil futures are $0.24 cents lower at 26.66¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.26 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 528 points higher.
Mike
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At 8:45am:
In early trading, the May corn futures are unchanged at $3.31 1/4. July corn futures are 1/2¢ higher at $3.36 1/2.
May soybean futures are 3/4¢ lower at $8.53 1/4. July soybean futures are 1¢ lower at $8.61 1/4.
May wheat futures are 5 3/4¢ lower at $5.49.
May soymeal futures are $2.20 per short ton lower at $286.40.
May soy oil futures are $0.06 cents lower at 26.84¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.99 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 299 points lower.
Al Kluis, Kluis Advisors, says that investors will be watching corn spreads and company earnings reports.
"The firming of the bull spreads in corn is a positive sign for the corn market," Kluis told customers in a daily note.
Kluis added, "Companies are starting to release corporate earnings reports this week. How will the stock market react? Many firms will show an extreme drop in profits or even a quarterly loss. They are also likely to take yearly projections of their profits sharply lower, or offer no guidance going forward. As many firms release their negative projections over the next two weeks, can the stock market continue its amazing rebound."
Mike
