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
