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Tony_Dreibus
Veteran Contributor

Floor Talk April 28

At the close:

At the close, the July corn futures finished 2 3/4¢ lower at $3.66 1/2, while December futures finished 1 3/4¢ lower at $3.85. July soybean futures closed 1¢ lower at $9.56 1/4, November soybean futures settled 1 1/4¢ lower at $9.53 1/4. July wheat futures closed 1¢ higher at $4.32 1/4. July soy meal futures ended $1.00 per short ton higher at $315.80. July soy oil futures closed $0.25 lower at 31.71¢ per pound.  In the outside markets, the Brent crude oil market is $0.20 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 44 points lower.

 

Mike

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At mid-session:

At mid-session, the July corn futures are 4¢ lower at $3.65, while December futures are 3 1/4¢ lower at $3.83. July soybean futures are 2¢ lower at $9.55, November soybean futures are 2 1/4¢ lower at $9.52. July wheat futures are 1/2¢ higher at $4.31. July soy meal futures are $0.60 per short ton lower at $314.20. July soy oil futures are $0.04 lower at 31.92¢ per pound.  In the outside markets, the Brent crude oil market is $0.15 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 30 points lower.

 

Mike

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At 9AM:

In early trading, the July corn futures are 1¢ lower at $3.67, while December futures are 1¢ lower at $3.85. July soybean futures are 2 3/4¢ lower at $9.54, November soybean futures are 3 3/4¢ lower at $9.50. July wheat futures are 1 3/4¢ higher at $4.33. July soy meal futures are $1.10 per short ton lower at $313.70. July soy oil futures are $0.02 lower at 31.94¢ per pound.  In the outside markets, the Brent crude oil market is $0.41 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 10 points lower.

 

Mike

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Wheat, corn and beans were mixed in overnight trading as it seems Chicago is largely ignoring the weather -- it must not be flooding on Jackson Street this morning. Corn was down a penny, wheat was up 2 cents and soybeans were up less than a cent overnight. While CBOT traders may not be looking out the window, growers are, and they're seeing their fields under water just ahead of (or in some cases just after) planting. In the southern Plains they're expected up to 14 inches of snow in Colorado and 8 inches in the panhandles and temperatures below 27 degrees Fahrenheit for their wheat. That's not normal. The snow may not be the worst thing, but that extreme cold could damage winter plants that don't have a protective barrier. It's nasty out there right now, so I hope it's not as bad as the weather forecasters say it's going to be. 

 

Here's what happened overnight:

 

Brent Crude Oil = up 0.9%.  

West Texas Intermediate Crude Oil = up 1.2%. 

Dollar = down 0.3%.

Wall Street = U.S. stock futures higher in pre-market trading.

World Markets = Global stocks mixed on geopolitical uncertainty, earnings reports. 

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