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Veteran Contributor

Floor Talk April 17

At the close:

At the close, the May corn futures finished 2 1/4¢lower at $3.80. July futures finished 1 3/4¢ lower at $3.89. May soybean futures finished 4¢ higher at $10.46.  July soybean futures ended 4¢ higher at $10.57. May wheat futures settled 4¢ higher at $4.66 1/4. May soy meal futures finished $3.30 per short ton higher at $381.10. January soy oil futures ended 0.01 higher at 31.19¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.27 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 215 points higher.

 

Mike

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At mid-day:

At mid-day, the May corn futures are 2¢lower at $3.80. July futures are 2 1/4¢ lower at $3.88. May soybean futures are 2 3/4¢ higher at $10.44.  July soybean futures are 2¢ higher at $10.56. May wheat futures are 3/4¢ higher at $4.63. May soy meal futures are $3.20 per short ton higher at $381.00. January soy oil futures are 0.01 higher at 31.19¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.02 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 181 points higher.

 

Mike

 

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At the open:

At the open, the May corn futures are 1/2¢ higher at $3.83. July futures are 3/4¢ higher at $3.91. May soybean futures are 2¢ higher at $10.44.  July soybean futures are 2¢ higher at $10.55. May wheat futures are 4¢ higher at $4.67. May soy meal futures are $0.50 per short ton higher at $378.30. January soy oil futures are 0.08 higher at 31.26¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.37 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 214 points higher.

 

Mike

 

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Wheat futures rebounded from a 10-day low overnight after the USDA's crop progress report showed that while conditions rose 1 percentage point from last week to 31% good or excellent, conditions are far worse than they were a year ago. The dry weather continues in the southern Plains today with another red flag warning, this time coupled with high-wind warnings. Gusts of up to 60 miles an hour are expected while relative humidity is down to around 4%. That's going to make for some extremely dangerous fire conditions. Up north, meanwhile, states can't escape winter as another round of snow and ice is set to hit Iowa and southern Minnesota starting tomorrow, according to the National Weather Service. As much as 8 inches of snow is expected in the area along with freezing rain and gusty winds. In other news, export inspections of soybeans and wheat rose week-to-week while corn assessments declined. Get all the details in today's 3 Big Things

 

Brent Crude Oil = up 0.1%.

West Texas Intermediate = up 0.1%.

Dollar = unchanged

Wall Street = U.S. stock markets higher pre-market.

World Markets = Global stocks higher overnight.

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