Floor Talk, April 16, 2020
At the close:
At the close, the May corn futures finished 1/2¢ higher at $3.19 3/4. July corn futures finished 1/2¢ lower at $3.26 1/4.
May soybean futures closed 5 1/4¢ lower at $8.36 3/4. July soybean futures ended 6¢ lower at $8.45 3/4.
July wheat futures closed 10¢ lower at $5.30 1/2.
July soymeal futures settled $0.50 per short ton lower at $296.10. July soy oil futures closed $0.26 cents lower at 26.68¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.03 per barrel lower at $19.78, the U.S. dollar is higher, and the Dow Jones Industrials are 57 points lower.
At midsession, the May corn futures are 2 1/4¢ higher at $3.21 1/2. July corn futures are 1 1/2¢ higher at $3.28 1/4.
May soybean futures are 3¢ lower at $8.39. July soybean futures are 4¢ lower at $8.47 3/4.
July wheat futures are 6¢ lower at $5.34 3/4.
July soymeal futures are $0.10 per short ton lower at $296.50. July soy oil futures are $0.18 cents lower at 26.76¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.21 per barrel higher at $19.78, the U.S. dollar is higher, and the Dow Jones Industrials are 50 points lower.
Jack Scoville, PRICE Futures Group, says that today's trade features pretty dull markets.
“Beans and wheat prices are hurt by less export sales, but corn enjoying some short covering from the export sales and the meltdown yesterday. Corn should have very limited upside potential and this might be just a one day affair. Planting should start next week around Chicago and soon enough farther north, but they got snow to melt yet. Planting should be starting up again in the Delta/U.S. Southeast after the big rains earlier this month," Scoville says.