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Veteran Contributor

Floor Talk April 5

At the close:

At the close, the May corn futures finished 8 1/2¢ higher at $3.89 1/2. July futures finished 8 1/2¢ higher at $3.98 1/4. May soybean futures ended 16¢ higher at $10.31 1/4.  July soybean futures closed 15¢ higher at $10.42. May wheat futures settled 9¢ higher at $4.64 3/4. May soy meal futures closed $1.80 per short ton higher at $383.60. January soy oil futures finished 0.10 higher at 31.78¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.22 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 269 points higher.

 

Mike

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At mid-session:

At mid-session, the May corn futures are 6¢ higher at $3.87. July futures are 5 1/2¢ higher at $3.95. May soybean futures are 13 3/4¢ higher at $10.29.  July soybean futures are 13¢ higher at $10.39. May wheat futures are 8 3/4¢ higher at $4.64. May soy meal futures are $1.50 per short ton higher at $383.30. January soy oil futures are even at 31.68¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.35 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 310 points higher.

 

Jason Roose, U.S. Commodities, says that the markets are relying too heavily on the weather to go downward.

"Grains are adding premium today after Wednesday's negative export tariff news, The lower planted acres and cool wet forecast is the driving force, adding back in weather premium.," Roose says.

 

Mike

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At 9:00am:

In early trading, the May corn futures are 3 1/4¢ higher at $3.84. July futures are 3 1/2¢ higher at $3.93. May soybean futures are 2 1/4¢ higher at $10.17.  July soybean futures are 2¢ higher at $10.28. May wheat futures are 4 1/2¢ higher at $4.60. May soy meal futures are $0.70 per short ton lower at $381.10. January soy oil futures are 0.07 lower at 31.61¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.49 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 196 points higher.

 

On Thursday, the USDA Weekly Export Sales Report showed that soybean sales beat expectations, while corn came within and wheat sales missed.

 

Wheat= 309,200 metric tons vs. the trade’s expectations of between 350,000-650,000 metric tons,

Corn=  909,300 mt. vs. the trade’s expectations of between 1,100,000-1,600,000 metric tons,

Soybeans= 1.491 mmt. vs. the trade’s expectations of between 600,000-1,100,000 metric tons  

 

 

Mike

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Beans and grains were all modestly higher overnight -- wheat was actually the leader to the upside, not surprisingly -- as cooler heads prevailed and traders are guardedly optimistic that a solution to the ongoing US-China trade spat will be found before the tariffs actually take effect. Beans added 3 cents, corn was up a penny and wheat gained 3-4 cents overnight. Several farm groups including the National Corn Growers, the American Soybean Association, the American Farm Bureau Federation and the US Meat Export Federation all came out with statements regarding the Chinese tariffs condemning both sides. Sen. Chuck Grassley of Iowa said farmers will bear the brunt should a trade war come to fruition, which isn't fair. In weather news, a freeze warning is in effect for much of the southern Midwest, which puts soft-red winter wheat at risk. Get all the details in today's 3 Big Things. 

 

Brent Crude Oil = up 0.1%.

West Texas Intermediate = down 0.1%.

Dollar = up 0.2%

Wall Street = U.S. stock markets higher pre-bell.

World Markets = Global stocks higher overnight. 

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3 Replies
Honored Advisor

Re: Floor Talk April 5

Look Ma,   we still got exports .............. who would have thought that just 20 hours after the collapse of the markets.

 

 

Maybe the exporters and shippers don't know that the grain markets collapsed to never return.  Some one tell em it's over...

 

Modestly higher today   vs  Plunging yesterday   and over those two mornings corn is now higher than two days ago.  Beans are still down about 7 cents from two days ago.   

 

Theatrics

 

 

 

 

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Honored Advisor

Re: Floor Talk April 5

I wish everyone who printed with exploitive language could spend next 10 years in a 1930's economy so they could have a feel for what market collapse means.  Markets are not a place to show off creative writing skills.

We have a number system that explains how much or how little.

 

 

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Honored Advisor

Re: Floor Talk April 5

Aww Sw,  Cut those folks some slack,  They're just getting tired of Trump winning.   Smiley Wink

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