Floor Talk April 25

[marketeye]

At the close:

The July corn futures contract settled 5 1/2 cents higher at $5.12. The Dec. corn futures finished 3 1/2 cents higher at $5.06. The July soybean futures contract closed 24 cents higher at $14.94. The Nov. soybean futures finished 8 3/4 cents higher at $12.39. July wheat futures ended 11 3/4 cents higher at $7.08 per bushel. The July soymeal futures contract closed $10.70 per short ton higher at $481.40. The July soyoil futures closed $0.29 higher at $43.15. 
In the outside markets, the Brent crude oil is $1.20 per barrel lower, the dollar is lower and the Dow Jones Industrials are 146 points lower.

Mike

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At mid-session:

Tthe July corn futures contract is trading 8 cents higher at $5.15. The Dec. corn futures are trading 6 cents higher at $5.09. The July soybean futures contract is 19 1/2 cents higher at $14.89. The Nov. soybean futures are trading 5 cents higher at $12.36. July wheat futures are 11 3/4 cents higher at $7.08 per bushel. The July soymeal futures contract is trading $9.80 per short ton higher at $480.50. The July soyoil futures are trading $0.06 higher at $42.92. 
In the outside markets, the Brent crude oil is $1.21 per barrel lower, the dollar is lower and the Dow Jones Industrials are 112 points lower.

Mike North, Senior Risk Advisor for First Capitol Ag, says the old crop/new crop spreads are again the feature in soybeans. "Investors are picking up the slack following several days of liquidation.  Option expiration has corn hanging out in between its two most owned strikes ($5 and $5.10).  Wheat is seeing support from growing tension in the Ukraine and ongoing concern about quality in the southern Plains."

Mike

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At 9:30am:

The International Grains Council has lowered its forecasts for 2014-15 global wheat and corn outputs.

Mike

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In early trading:

At 9:15am, the July corn futures contract is trading 5 1/2 cents higher at $5.12. The Dec. corn futures are trading 4 3/4 cents higher at $5.07. The July soybean futures contract is 18 cents higher at $14.88. The Nov. soybean futures are trading 5 cents higher at $12.36. July wheat futures are 7 cents higher at $7.03 per bushel. The July soymeal futures contract is trading $6.30 per short ton higher at $477.00. The July soyoil futures are trading $0.27 higher at $43.13. 
In the outside markets, the Brent crude oil is $0.86 per barrel lower, the dollar is lower and the Dow Jones Industrials are 92 points lower.

Mike

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At 6:45am:

Early calls: Corn is seen 1-2 cents higher, soybeans 4-6 cents higher , and wheat 4-6 cents higher.

Trackers:
Overnight grain, soybean markets=Trading higher.

Brent Crude Oil=$0.86 per barrel lower.
Dollar= Lower.

Wall Street=Seen lower.

World Markets=Europe stocks were lower, Asia/Pacific stocks mostly lower.

More in a minute,

Mike