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Veteran Contributor

Floor Talk April 27

At the close:

At the close, the July corn futures settled 2 1/2 cents lower at $3.84, Dec. futures finished 4 cents lower at $3.90 1/2 per bushel. July soybean futures ended 1 1/4 cents higher at $10.28 1/2, while Nov. soybean futures finished 5 1/2 cents lower at $10.03. July wheat futures closed 4 1/4 cents lower at $4.83 1/2. July soymeal futures closed  $1.70 short ton higher at $328.30. July soyoil futures ended $0.34 lower at $33.87.  In the outside markets, the Brent crude oil market is $0.58 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 62 points higher.

 

Mike

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At mid-session:

At mid-session, the July corn futures are trading 4 cents lower at $3.83, Dec. futures are 3 3/4 cents lower at $3.91 per bushel. July soybean futures are 5 cents lower at $10.22, while Nov. soybean futures are 9 cents lower at $10.00. July wheat futures are 5 1/4 cents lower at $4.82. July soymeal futures trade $0.30 short ton higher at $326.90. July soyoil futures are $0.56 lower at $33.65.  In the outside markets, the Brent crude oil market is $0.09 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 20 points higher.

 

Mike

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At 9:30am:

Private exporters reported to the U.S. Department of Agriculture export sales of 393,000 metric tons of soybeans for delivery to unknown destinations. Of the total 350,000 metric ton for delivery during the 2015/2016 marketing year and 43,000 metric tons for delivery during the 2016/2017 marketing year.

The marketing year for soybeans began Sept. 1.

 

Mike

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In early trading:

At 9:00am, the July corn futures are trading 4 cents lower at $3.83, Dec. futures are 3 3/4 cents lower at $3.90 per bushel. July soybean futures are 6 1/2 cents lower at $10.20, while Nov. soybean futures are 7 1/2 cents lower at $10.01. July wheat futures are 4 3/4 cents lower at $4.83. July soymeal futures trade $1.80 short ton lower at $324.80. July soyoil futures are $0.44 lower at $33.77.  In the outside markets, the Brent crude oil market is $0.94 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 16 points lower.

 

Mike

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Ten days of dry weather in Argentina may finally allow growers access to crops down there -- though there might not be much to harvest after plants sat in wet, soggy fields for months without being harvested.  Still, what is left may finally be harvested if they can get moving. Growers only have a small window to collect crops so nothing is guaranteed. In the U.S., wet weather in the southern Plains has been followed this week by severe weather in the Midwest. Last night's storms stretching from Nebraska to Texas wreaked havoc in some regions with grapfruit-sized hail in Kansas to tornadoes in Texas. Be careful out there as the storm is moving east! 
 

Here's what happened overnight:

 

Brent Crude Oil = 2.3% higher. 

West Texas Intermediate Crude Oil = 2.1% higher.

Dollar = down 0.2%.

Wall Street = U.S. stock futures decline in pre-market trading. 
World Markets = Global stocks lower ahead of report from US Federal Reserve meeting.

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5 Replies
Honored Advisor

Re: Floor Talk April 27

How about some more pictures from our friends in Argentina?  

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Veteran Advisor

Re: Floor Talk April 27

At 10:15am:

According to EIA data, ethanol production averaged 927,000 barrels per day (b/d)—or 38.93 million gallons daily. That is down 12,000 b/d from the week before and a 51-week low. The four-week average for ethanol production stood at 945,000 b/d for an annualized rate of 14.49 billion gallons, according to a Renewable Fuels Association press release.

Stocks of ethanol stood at 21.6 million barrels. That is a 1.9% decrease from last week and the lowest in 14 weeks.

 

Mike

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Veteran Advisor

Re: Floor Talk April 27

roarintiger1,

 

It's ironic that you ask. I am getting set to do another Skype interview with Pablo, today. I will be posting what he offers later today.

 

Thanks,

 

Mike

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Veteran Contributor

Re: Floor Talk April 27

If you could ask him if the rain really has stopped, and if farmers are actually going to be able to get into fields, that'd be great.

 

I know, around here at least, after a lot of rain there are always standing puddles in fields and the soil isn't exactly friendly to heavy harvesting equipment. So while it may be dry for the past day and a half, farmers may not be able to actually harvest anything.

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Honored Advisor

Re: Floor Talk April 27

That's super Mike.....thank you!

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