At the close:
The Dec. futures corn contract finished 1/4 of a cent lower at $8.07 1/4. The Nov. soybean contract settled 20 1/2 cents higher at $16.45 3/4. Dec. wheat futures contract closed 12 3/4 cents higher at $8.94 1/2 per bushel. The Dec. soyoil futures contract settled $0.08 higher at $53.74. The Dec. soymeal futures contract settled $10.30 per short ton higher at $499.90.
In the outside markets, the NYMEX crude oil is $0.43 per barrel higher, the dollar is higher and the Dow Jones Industrials are 15 points higher.
One analyst is asking the question that remains. "What is in store for the rest of the month, now that we do not have another monthly crop report by the U.S.D.A. to adjust supply side production numbers until September and weather's affect on yields is largely over. Are we going to continue trading the old bullish news and move to new highs or adjust lower off post growing season, pre –harvest pressure psychology. I feel there is a better chance of a break now but let the charts guide us," he says.
Mike
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At mid-day:
The Dec. futures corn contract is trading 1/4 of a cent higher at $8.07 3/4. The Nov. soybean contract is trading 12 1/2 cents higher at $16.37 3/4. Dec. wheat futures are trading 10 cents higher at $8.91 3/4 per bushel. The Dec. soyoil futures contract is trading $0.15 higher at $53.81. The Dec. soymeal futures contract is trading $5.90 per short ton higher at $495.50.
In the outside markets, the NYMEX crude oil is $0.20 per barrel higher, the dollar is higher and the Dow Jones Industrials are 7 points higher.
One analyst says, "It is a choppy affair today, with little in the way of new trade interest showing.
"Wheat strength seems to be some follow-through buying on Russia, but that seems to be fading now. The corn and bean markerts are pretty quiet, although some ideas of new demand helping the beans out," he says.
Lots of people remain on the sidelines, waiting for news and there is not much news to trade on today, he says. "That changes next week, with the Pro Farmer Crop Tour. So, I expect some volatility next week. But, today is a pretty slow affair for me and pretty much everyone, judging from what I am seeing around here," he says..
Mike
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At the open:
The Dec. futures corn contract is trading 4 1/4 cents higher at $8.12. The Nov. soybean contract is trading 8 cents higher at $16.33. Dec. wheat futures are trading 13 cents higher at $8.75 per bushel. The Oct. soyoil futures contract opened $0.08 higher at $53.32. The Oct. soymeal futures contract opened $4.30 per short ton higher at $504.80.
In the outside markets, the NYMEX crude oil is $0.19 per barrel lower, the dollar is higher and the Dow Jones Industrials are 9 points higher.
Mike
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At 7:00am:
Early calls: Corn 2-4 cents lower, soybeans 7-9 cents higher, and wheat 7-9 cents higher.
Trackers:
Overnight grain, soybean markets=Trading mostly higher.
Crude Oil=$0.53 per barrel lower.
Dollar=Higher.
Wall Street=Seen opening flat.
World=Higher.
More in a minute,
Mike
