Floor Talk August 28

[marketeye]

At the close:

The Dec. corn futures finished 4 1/4 cents higher at $3.69.

Nov. soybean futures closed 5 cents higher at $10.28.

Dec. wheat futures 9 1/2 cents higher at $5.71.

Dec. soymeal futures closed $4.40 higher at $348.60. Dec. soyoil futures ended $0.02 lower at $32.79.

In the outside markets, the crude oil is $0.71 per barrel higher, the dollar is higher, and the Dow Jones Industrials are 42 points lower.

Mike

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At mid-session:

 The Dec. corn futures are trading 2 3/4 cents higher at $3.67.

Nov. soybean futures are trading 4 1/2 cents higher at $10.28.

Dec. wheat futures are 12 1/4 cents higher at $5.74.

Dec. soymeal futures are $4.30 higher at $348.50. Dec. soyoil futures are trading $0.13 lower at $32.68.

In the outside markets, the crude oil is $0.45 per barrel higher, the dollar is higher, and the Dow Jones Industrials are 33 points lower.

Mike

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At the open:

The Dec. corn futures are trading 1 1/2 cents higher at $3.66.

Nov. soybean futures are trading 2 cents higher at $10.25.

Dec. wheat futures are 9 1/4 cents higher at $5.71.

Dec. soymeal futures are $1.10 higher at $345.30. Dec. soyoil futures are trading unchanged at $32.81.

In the outside markets, the crude oil is $0.23 per barrel higher, the dollar is higher, and the Dow Jones Industrials are 93 points lower.

Mike

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At 8:20am:

USDA Weekly Export Sales Thursday show that soybeans beat, while corn and wheat fell within expectations:

Wheat=  403,600 metric tons  vs. the trade's expectations of between 200,000-550,000 metric tons.



Corn= 728,300 metric tons vs. the trade's expectations of between 600,000-900,000 metric tons.



Soybeans= 1.22 million metric tons vs. the trade's expectations of between 700,000-1,000,000 metric tons.

Soybean meal=  77,200 metric tons vs. the trade's expectations of between 100,000-250,000 metric tons.

Mike

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At 6:25am:

Early calls: Corn 2-4 cents higher, soybeans 4-6 cents higher, and wheat 10-12 cents higher.

Trackers:
Overnight grain, soybean markets = Trading higher.
Crude Oil = $0.05 per barrel higher.
Dollar = Higher.
Wall Street = Seen lower, with eyes on U.S. 2nd quarter economic growth numbers.
World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.

More in a minute,

Mike