cancel
Showing results for 
Search instead for 
Did you mean: 
Veteran Advisor

Floor Talk, April 15, 2020

At the close:

At the close, the May corn futures finished 6 3/4¢ lower at $3.19 1/4. July corn futures closed 5 1/2¢ lower at $3.26 1/4.

May soybean futures settled 5¢ lower at $8.42. July soybean futures ended 3 3/4¢ lower at $8.51 3/4.

May wheat futures closed 8 1/2¢ lower at $5.40 3/4.

July soymeal futures settled $3.50 per short ton higher at $296.60.

May soy oil futures ended $0.19 cents lower at 26.55¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.11 per barrel higher at $19.78, the U.S. dollar is higher, and the Dow Jones Industrials are 404 points lower.

Mike

-------

At midsession:

At midsession, the May corn futures are 5 3/4¢ lower at $3.20. July corn futures are 5¢ lower at $3.27 1/4.

May soybean futures are 1/4¢ lower at $8.46 3/4. July soybean futures are 1/2¢ higher at $8.56.

May wheat futures are 9 1/2¢ lower at $5.39 3/4.

July soymeal futures are $4.10 per short ton higher at $297.20.

 May soy oil futures are $0.22 cents lower at 26.52¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.38 per barrel lower at $19.78, the U.S. dollar is higher, and the Dow Jones Industrials are 562 points lower.

 

Mike

--------

At 8:45am:

 

In early trading, the May corn futures are 2¢ lower at $3.24. July corn futures are 1 1/2¢ lower at $3.30 1/4.

May soybean futures are 3 3/4¢ lower at $8.43. July soybean futures are 3¢ lower at $8.52 1/4.

May wheat futures are 13 1/2¢ lower at $5.35 3/4.


July soymeal futures are $2.30 per short ton higher at $295.40.

 May soy oil futures are $0.22 cents lower at 26.52¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.33 per barrel lower at $19.78, the U.S. dollar is higher, and the Dow Jones Industrials are 560 points lower.

Al Kluis, Kluis Advisors, says that the ag markets are reacting to planting weather and the outside markets.

"Weather forecasts are being closely watched. Freezing temperatures are set to dip in the winter wheat area of the Southern Plains this week. Soybean meal set new contract lows on Tuesday. However, futures are showing early signs that we may have pushed prices low enough," Kluis told customers in a daily note.

Kluis added, "Selling pressure in crude oil this morning has pushed prices to the lowest levels in nearly 20 years. If corn futures are able to hold tight to the recent lows, then it could signal the spring low is in place."

 

Mike

 

0 Kudos
4 Replies
Honored Advisor

Re: Floor Talk, April 15, 2020 ITS TAX DAY!

No mention of it being TAX DAY :-)    ahhhh, how our priorities can shift with the winds....

Advisor

Re: Floor Talk, April 15, 2020 ITS TAX DAY!

Not to mention every time someone mentions the lows are in somehow the markets continue to go lower.  Lower than before the pandemic lower than before trade deals lower lower lower... just a matter of time before we’re paying them for the luxury of doing are work.

Senior Advisor

Re: Floor Talk, April 15, 2020 ITS TAX DAY!

0 Kudos
Honored Advisor

Re: Floor Talk, April 15, 2020 ITS TAX DAY!

It is kind if "Deja Vu" all over again. We got extremely bullish last late April, only to be wrong for 14 days, and then be very right for awhile. While last is never like this year, this time it is feeling pretty similar. Cash corn under loan is going to start to limit available supplies sooner or later, and the evil importers of our grain (on all continents) are going to marvel at how cheap it is to improve their food supplies.....

Major lows in the next few days or weeks in my view....but the input is worth what you paid for it. 

0 Kudos