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Veteran Advisor

Floor Talk, April 28, 2020

At the close:

At the close, the May corn futures finished 2 3/4¢ lower at $3.02 3/4. July corn futures ended 1 1/4¢ lower at $3.12.

May soybean futures finished 3¢ lower at $8.26. July soybean futures are 4 1/2¢ lower at $8.32.

July wheat futures settled 1 1/4¢ higher at $5.26.

July soymeal futures ended $3.10 per short ton lower at $288.40.

July soy oil futures settled $0.30 cent higher at 25.77¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.10 per barrel lower at $12.68 per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 67 points higher.

 

Mike

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At midsession:

At midsession, the May corn futures are 2¢ lower at $3.03. July corn futures are 3/4¢ lower at $3.12.

May soybean futures are 5¢ lower at $8.24. July soybean futures are 5 1/2¢ lower at $8.31.

July wheat futures are 2¢ higher at $5.26 1/4.

July soymeal futures are $3.20 per short ton lower at $288.30.

July soy oil futures are $0.26 cent higher at 25.73¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.36 per barrel lower at $12.42 per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 18 points lower.

 

Mike

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At 9am:

In early trading, the May corn futures are 2 1/4¢ lower at $3.03. July corn futures are 1 1/4¢ lower at $3.12.

May soybean futures are 2¢ lower at $8.27. July soybean futures are 2¢ lower at $8.34.

July wheat futures are 1 1/4¢ lower at $5.23 1/4.

July soymeal futures are $1.90 per short ton lower at $289.60.

July soy oil futures are $0.08 cent higher at 25.55¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.36 per barrel lower at $13.07 per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 29 points higher.

Al Kluis, Kluis Advisors, says that market moving information could move the futures contract to a full carry.

"Watch the May-to-July corn spread, which closed at 8 cents on Monday. If the corn market goes out to a full carry, then that spread may go out to 11 cents or more when we get into the May corn deliveries. On Wednesday, the Energy Information Agency report will show an increase in U.S. gasoline used compared to last week, and that stocks of ethanol and crude oil continue to increase," Kluis told customers in a daily note.

Kluis added, "The USDA Crop Progress report on Monday showed corn planting at 27% complete, a full 7% ahead of the five-year average. Spring wheat planting is 14% complete. On Monday, corn closed down 10 cents, soybean futures closed 3 cents higher, and wheat futures closed 4 to 6 cents lower."

 

Mike

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4 Replies
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Veteran Contributor

Re: Floor Talk, April 28, 2020

Here's a fun little game, bought some jerkey today at a store for 8.99 lets break that down. Lets say that company bought the steer from the farmer at 1300 lbs at today price would be $1092 which is a $300 loss to the farmer,that company cuts it up and say there is 1100 lbs left all jerkey so they sell 5oz for $8.99 total $8789-1092 for a profit of $7697 off 1 cow but yet no one can pay the farmer more it's called robbery.

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Esteemed Advisor

Re: Floor Talk, April 28, 2020

Hey Mike, how long are you going to let the Dave and Rick shown tarnish the site's image and reputation? Not one thing even closely resembling marketing in their constant oral drivel. Pretty sure they will take their stimilus checks just like everyone else, they will just complain that a Facist sent it to them. They have no idea what a real Facist is I guess. Plenty of history books that they don't have time to read I suppose.

Just lies and insults and depressing. Besides, their moronic comments and views are simply that, moronic and waste of good electrons.

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Senior Advisor

Re: Floor Talk, April 28, 2020

Ken was reading his Bible and waiting for the ‘rona to go away in April.

He’s a phony.

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Senior Contributor

Re: Floor Talk, April 28, 2020

How in the world did you get Veteran Advisor status.   I have tired of pointing out your less than accurate statements, it is a waste of time.  I think you have done enough. I wish you well and also wish you would move on to another site and pester the farmers there.

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