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marketeye
Veteran Advisor

Floor Talk August 21

At the close:

At the close, the Sept. corn futures finished 5 3/4 cents lower at $3.65 1/4, Dec corn futures ended 5 1/4 cents lower at $3.77 1/4.  Nov. soybean futures closed 17 3/4 cents lower at $8.89 1/2.

Sept. wheat futures finished 6 3/4 cents lower at $4.99 1/2.

Sept. soymeal futures settled $4.00 per short ton lower at $326.90. Sept. soyoil futures finished $0.62 lower at $27.36. 

In the outside markets, the Brent Crude oil market is $0.78 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 379 points lower.

Mike

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At 1:25pm:

A broad-based sell-off is causing weaker farm markets, according to one CME Group floor trader. "China's exonomic problems, its currency devaluing and weak manufacturing numbers will not turn out well for it. Crude oil dropping below $40 per barrel, for the first time since 2009, and questions about the Federal Reserve raising interest rates. All of these weigh on today's commodities markets," he says.

 

Mike

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At mid-session:

At mid-session, the Sept. corn futures are trading 4 1/2 cents lower at $3.66, Dec corn futures are 4 1/4 cents lower at $3.78.  Nov. soybean futures are trading 14 cents lower at $8.93.

Sept. wheat futures are 8 1/2 cents lower at $4.97.

Sept. soymeal futures are trading $2.50 per short ton lower at $328.40. Sept. soyoil futures are trading $0.73 lower at $27.25. 

In the outside markets, the Brent Crude oil market is $1.09 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 292 points lower.

Mike

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At the open:

At the open, the Sept. corn futures are trading 3/4 of a cent higher at $3.71, Dec corn futures are 1 cent higher at $3.83.  Nov. soybean futures are trading 4 1/2 cents lower at $9.02.

Sept. wheat futures are 3 3/4 cents lower at $5.02.

Sept. soymeal futures are trading $0.30 per short ton higher at $331.20. Sept. soyoil futures are trading $0.27 lower at $27.71. 

In the outside markets, the Brent Crude oil market is $0.80 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 140 points lower.

Mike

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At 7:15am:

 

Early calls: Corn 1-2 cents lower, soybeans 2-4 cents lower, and wheat 1-2 cents lower.

 

Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.48 lower.
Dollar =Lower.  
Wall Street = Seen lower .

World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.

 

 

 

More in a minute,

 

Mike

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