At the close:
At the close, the May corn futures settled 5¢ lower at $3.09. July corn futures ended 5¢ lower at $3.17 1/4.
May soybean futures closed 4 1/4¢ higher at $8.30 3/4. July soybean futures closed 4 1/2¢ higher at $8.40 3/4.
July wheat futures closed 1 1/4¢ lower at $5.46 1/4.
July soymeal futures finished $3.70 per short ton higher at $294.50.
July soy oil futures finished $0.61 cents lower at 25.76¢ per pound.
In the outside markets, the NYMEX crude oil market is $46.69 per barrel higher at $9.06 per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 555 points lower.
Mike
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At midsession:
At midsession, the May corn futures are 7 1/4¢ lower at $3.07. July corn futures are 7 1/4¢ lower at $3.15.
May soybean futures are 8 3/4¢ lower at $8.17 3/4. July soybean futures are 8 1/4¢ lower at $8.28.
July wheat futures are 2 1/4¢ lower at $5.45 1/4.
July soymeal futures are $0.20 per short ton higher at $291.00.
July soy oil futures are $0.98 cents lower at 25.39¢ per pound.
In the outside markets, the NYMEX crude oil market is $42.86 per barrel higher at $5.23 per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 600 points lower.
Mike
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At 8:45am:
In early trading, the May corn futures are 8¢ lower at $3.07 1/4. July corn futures are 7 1/4¢ lower at $3.15.
May soybean futures are 12¢ lower at $8.14 3/4. July soybean futures are 11 1/2¢ lower at $8.24 1/4.
July wheat futures are 1/2¢ lower at $5.47.
July soymeal futures are $3.60 per short ton lower at $287.20.
July soy oil futures are $0.87 cents lower at 25.50¢ per pound.
In the outside markets, the NYMEX crude oil market is $34.00 per barrel higher at near zero per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 482 points lower.
On Monday, the crude oil market price traded below zero for the first time ever, due to a lack of storage for oversupplies.
Al Kluis, Kluis Advisors, says that investors are shocked about the negative crude oil market.
"Who ever thought we would see crude oil trade below $10 per barrel? Or that it could go negative? The negative price on the expiring May contract, tells us that crude oil producers in the U.S. are running out of storage room. Now they have to pay to have the oil taken from them," Kluis told customers in a daily note.
Kluis added, "On Monday, crude oil prices plunged. The expiring May contract dropped to new all-time lows, trading at -$40 per barrel before closing down -$37 per barrel. (That is not a typo. Those are negative numbers.) The June contract closed at $20.43. The collapse in the crude oil market put pressure on the grain markets while wheat managed to close higher.
Mike
