At the close:
At the close, the May corn futures finished 3 1/4¢ higher at $3.31 1/2. July corn futures finished 3 3/4¢ higher at $3.37 3/4.
May soybean futures closed 3/4¢ lower at $8.54 1/2. July soybean futures finished 1/4¢ lower at $8.61.
May wheat futures finished 6 1/2¢ lower at $5.49 3/4.
May soymeal futures closed $2.80 per short ton lower at $294.20.
May soy oil futures finished $0.65 cents higher at 27.48¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.87 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 471 points higher.
Mike
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At midsession:
At midsession, the May corn futures are 5 1/4¢ higher at $3.33 1/2. July corn futures are 5 1/2¢ higher at $3.38 3/4.
May soybean futures are 3¢ higher at $8.58 1/2. July soybean futures are 3¢ higher at $8.64 1/4.
May wheat futures are 7¢ lower at $5.48 3/4.
May soymeal futures are $2.20 per short ton lower at $294.80.
May soy oil futures are $0.69 cents higher at 27.52¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.04 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 616 points higher.
Mike
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At 8:45am:
In early trading, the May corn futures are 4 1/4¢ higher at $3.32 1/2. July corn futures are 4 1/2¢ lower at $3.37 3/4.
May soybean futures are 4 1/4¢ higher at $8.60. July soybean futures are 4 3/4¢ higher at $8.66.
May wheat futures are 7 1/2¢ lower at $5.48 3/4.
May soymeal futures are $0.20 per short ton lower at $296.80.
May soy oil futures are $0.58 cents higher at 27.41¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.60 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 800 points higher.
Al Kluis, Kluis Advisors, says that traders will be watching to see what this week's USDA report says about corn ending stocks.
"The trade expectation is that ending stocks of corn will only increase by 112 million bushels in the Thursday report. However, this is very questionable. Exports are way below the pace needed and now we also have to factor in--sooner or later--the slowdown in ethanol consumption and ethanol corn crush," Kluis told customers in a daily note.
Kluis added, "Watch weather forecasts for the Delta, where many states have an April 15 planting deadline on their corn acres. For many farmers with a high Actual Production History (APH), prevent plant may be a good alternative."
Mike
