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Veteran Advisor

Floor Talk, August 6, 2019

At the close:

At the close, the Sep. corn futures finished 1 1/4¢ lower at $4.04. Dec. corn futures closed 2 1/4¢ lower at $4.12 1/4.

Sep. soybean futures closed 3¢ lower at $8.53. November soybean futures settled 3¢ lower at $8.65 3/4.

Sep. wheat futures ended 10 1/2¢ lower at $4.84.



December soymeal futures closed $0.30 per short ton higher at $302.60.

 December soy oil futures settled $0.33 lower at 27.93¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.82 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 288 points higher.

 

Mike

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At midsession:

At midsession, the Sep. corn futures are 1 1/2¢ lower at $4.03 3/4. Dec. corn futures are 2 1/2¢ lower at $4.12 1/4.

Sep. soybean futures are 2 1/4¢ lower at $8.53 1/2. November soybean futures are 2 1/4¢ lower at $8.66 1/2.

Sep. wheat futures are 10¢ lower at $4.84 1/2.



December soymeal futures are $0.10 per short ton lower at $302.20.

 December soy oil futures are $0.19 lower at 28.07¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.17 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 70 points higher.

Mike

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At 9:08am:

In early trading, the Sep. corn futures are 2 1/2¢ lower at $4.02 3/4. Dec. corn futures are 5 1/4¢ higher at $4.14 3/4.

Sep. soybean futures are 3/4¢ higher at $8.56 1/2. November soybean futures are 1¢ higher at $8.69 3/4.

Sep. wheat futures are 4 1/2¢ lower at $4.90.

December soymeal futures are $2.10 per short ton lower at $300.20.

December soy oil futures are $0.24 higher at 28.50¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.11 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 224 points higher.

Al Kluis, Kluis Advisors, says that investors will stay focused on crop-weather.

“I am watching the short-to-very-short moisture index that shows the dry area in the central Corn Belt continues to grow. This will have a major yield impact on about 25% of the Corn Belt,” Kluis told customers in a daily note.

 

Mike

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Advisor

Bet in

Bout a month the paper corn folks will be talking the Dec at say $5.10 or 20 kinda money. 

Cash corn will be $6 everywhere at harvest. 

There's nothing out there to improve crop ratings in Aug. 

And the crop tour coming up will talk how large the yield haircut is. 

 

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