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Veteran Contributor

Floor Talk August 2

At the close:

At the close, the September corn futures finished 1 3/4¢ higher at $3.66. December futures ended 1 3/4¢ higher at $3.81.

 

Sep. soybean futures settled 4 1/2¢ lower at $8.87.  November soybean futures settled 4 1/4¢ lower at $8.97 1/2.

 

September wheat futures ended 2 1/2¢ higher at $5.60 1/2.

August soymeal futures closed $3.50 per short ton lower at $331.00. Sep. soy oil futures 0.33¢ lower at 28.29.

In the outside markets, the NYMEX crude oil market is $1.25 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 11 points lower.

 

Mike

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At mid-session:

At mid-session, the September corn futures are 5 1/4¢ higher at $3.70. December futures are 5 1/2¢ higher at $3.84.

 

Sep. soybean futures are 7¢ lower at $8.84.  November soybean futures are 6 3/4¢ lower at $8.95.

 

September wheat futures are 16 3/4¢ higher at $5.75.

August soymeal futures are $3.10 per short ton lower at $331.40. Sep. soy oil futures 0.18¢ lower at 28.44.

In the outside markets, the NYMEX crude oil market is $1.34 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 41 points lower.

 

Mike

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At 9:46am:

In case you missed this morning's USDA Weekly Export Sales Report, here are the totals. Corn came in at the high end of expectations.

 

 

Corn= 1.27 million metric tons vs. the trade’s expectations of between 700,000-1,300,000 mt.

Soybeans= 637,000 mt. vs. the trade’s expectations of between 400,000-1,200,000 mt.  

Soybean meal= 80,300 mt. vs. the trade’s expectations of between 50,000-300,000 mt.

Wheat= 382,500 mt. vs. the trade’s expectations of between 200,000-500,000 mt.

 

 

Mike

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At 9:20am:

In early trading, the September corn futures are 3 3/4¢ higher at $3.68. December futures are 3 3/4¢ higher at $3.83.

 

Sep. soybean futures are 9 1/4¢ lower at $8.82.  November soybean futures are 9 1/4¢ lower at $8.92.

 

September wheat futures are 6 3/4¢ higher at $5.65.

August soymeal futures are $3.10 per short ton lower at $331.40. Sep. soy oil futures 0.24¢ lower at 28.38.

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 97 points lower.

 

Mike

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Soybeans were again lower overnight on trade concerns after reports that the US may increase levies on proposed tariffs on $200 billion worth of Chinese goods to 25% from 10%. That, along with INTL FCStone's production projections coming in well higher than the USDA's, is keeping soybean prices down. Grains, however, have found some solid footing on demand and overseas production woes. Beans lost about 6 cents, corn was up 3 cents and wheat gained 10-11 cents. Ethanol production capacity reached another record, while production fell last week and stockpiles rose to the highest level in three weeks. In weather news, more storms are forecast for Nebraska with some potentially turning severe, the NWS said. Check out today's 3 Big Things for all the details. 

 

West Texas Intermediate = down 0.8%.

Brent Crude = down 0.5%

Dollar = up 0.3%.

Wall Street = U.S. stock lower pre-market.

World Markets = Global stocks lower overnight.

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