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Veteran Advisor

Floor Talk August 5

At the close:

The Dec. corn futures settled 2 cents lower at $3.67.

 

Nov. soybean futures closed 13 3/4 cents lower at $10.65.

 

Sep. wheat futures closed 8 1/2 cents  higher at $5.52 1/2.

 

Dec. soymeal futures finishe $4.20 lower at $343.60. Dec. soyoil futures are $0.53 lower at $35.87.
In the outside markets, the NYMEX Brent crude oil is $1.01 per barrel lower, the dollar is higher and the Dow Jones Industrials are 174 points lower.

 

Mike

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At mid-session:

The Dec. corn futures are trading 4 cents lower at $3.65.

 

Nov. soybean futures are trading 16 3/4 cents lower at $10.62.

 

Sep. wheat futures are 1 cent lower at $5.43.

 

Dec. soymeal futures are $5.00 lower at $342.80. Dec. soyoil futures are $0.53 lower at $35.87.
In the outside markets, the NYMEX Brent crude oil is $0.70 per barrel lower, the dollar is higher and the Dow Jones Industrials are 74 points lower.

 

Mike North, Sr. Risk Management Advisor for First Capital Ag, says the back and forth nature of this week’s trade is a direct result of the fickle nature of weather forecasts.  "The dry conditions that were expected yesterday have been replaced with forecasts for rain in the western Corn belt where moisture is a very welcomed guest.  Soybeans have taken the leadership in this weather driven market as we move into a critical development stage.  Corn and wheat remain followers of soybean’s direction.  Quite likely there will be more of this two sided trade as forecasts this time of year are constantly evolving."

 

Mike

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At the open:

 

The Dec. corn futures are trading 4 cents lower at $3.64.

 

Nov. soybean futures are trading 18 cents lower at $10.61.

Sep. wheat futures are 5 cents lower at $5.38.

 

 

 

Dec. soymeal futures are $5.10 lower at $342.70. Dec. soyoil futures opened $0.16 higher at $35.87.
In the outside markets, the NYMEX Brent crude oil is $0.21 per barrel lower, the dollar is higher and the Dow Jones Industrials are 65 points lower.

 

Mike

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At 7:00am:

Early calls: Corn is seen 1-2 cents lower, soybeans 12-13 cents lower, and wheat 1-2 cents lower.

Trackers:
Overnight grain, soybean markets=Trading lower.

Brent Crude Oil=$0.16 per barrel higher.
Dollar=Higher.

Wall Street=Seen lower.

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

 

 

 

More in a minute,

 

Mike

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