At the close:
The May corn futures contract settled 6 1/4 cents lower at $4.97. The Dec. corn futures finished 4 cents lower at $4.99. The May soybean futures contract closed 17 1/2 cents higher at $15.18. The Nov. soybean futures closed 8 1/4 cents higher at $12.37. May wheat futures ended 13 3/4cents lower at $6.88 per bushel. The May soymeal futures contract closed $3.60 per short ton higher at $491.00. The May soyoil futures closed $0.88 higher at $43.71.
In the outside markets, the Brent crude oil is $0.15 per barrel higher, the dollar is lower and the Dow Jones Industrials are 162 points higher.
One analyst sized up today's trade like this: "Warmer forecasts in combination with less concern about the damage of freezing weather in the southern plains has led corn and wheat lower while soybeans continue to spread old crop against new crop in a scramble to ration old crop supplies which were tightened even further by yesterday’s crush number coming in 7 million bushels greater than expected."
Mike
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At mid-session:
The May corn futures contract is trading 6 cents lower at $4.97. The Dec. corn futures are trading 4 cents lower at $4.98. The May soybean futures contract is 14 cents higher at $15.15. The Nov. soybean futures are trading 4 cents higher at $12.33. May wheat futures are 10 cents lower at $6.91 per bushel. The May soymeal futures contract is trading $2.20 per short ton higher at $489.60. The May soyoil futures are trading $0.76 higher at $43.59.
In the outside markets, the Brent crude oil is $0.41 per barrel higher, the dollar is lower and the Dow Jones Industrials are 105 points higher.
Mike
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At the open:
The May corn futures contract is trading 1 cent higher at $5.04. The Dec. corn futures are trading unchanged at $5.03. The May soybean futures contract is 15 cents higher at $15.17. The Nov. soybean futures are trading 7 cents higher at $12.36. May wheat futures are 8 cents higher at $7.10 per bushel. The May soymeal futures contract is trading $5.60 per short ton higher at $493.30. The May soyoil futures are trading $0.35 higher at $43.18.
In the outside markets, the Brent crude oil is $0.70 per barrel higher, the dollar is lower and the Dow Jones Industrials are 101 points higher.
Mike
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At 7:30am:
Early calls: Corn is seen 1-2 cents lower, soybeans 16-17 cents higher, and wheat 1-2 cents higher.
Trackers:
Overnight grain, soybean markets=Trading mostly higher.
Brent Crude Oil=$1.05 per barrel higher.
Dollar=Lower.
Wall Street=Seen higher.
World Markets=Europe stocks were mixed, Asia/Pacific stocks mostly higher.
More in a minute,
Mike
