Floor Talk August 9
At the close:
At the close, the Sep. corn futures settled 3¢ lower at $3.22, Dec. futures finished 2 1/4¢ lower at $3.32 1/2 per bushel. Sep. soybean futures closed 3 3/4¢ higher at $10.05, while Nov. soybean futures closed 3¢ higher at $9.88. Sept. wheat futures closed unchanged at $4.17. Sep. soymeal futures closed $0.40 short ton higher at $336.30. Sept soyoil futures closed $0.23 higher at 31.24¢ per pound. In the outside markets, the Brent crude oil market is $0.29 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 15 points lower.
The soybean complex has turned higher. Beans are up a dime. Corn and wheat trade lower.
At the open:
At the open, the Sep. corn futures are 1 3/4¢ lower at $3.23 1/2, Dec. futures are 1 3/4¢ lower at $3.33 per bushel. Sep. soybean futures are 2 3/4¢ lower at $9.98, while Nov. soybean futures are 2 3/4¢ lower at $9.82. Sept. wheat futures are 2 1/4¢ lower at $4.14. Sep. soymeal futures are $2.20 short ton lower at $333.70. Sept soyoil futures are $0.19 higher at 31.20¢ per pound. In the outside markets, the Brent crude oil market is $0.21 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 31 points higher.
On Tuesday, private exporters reported to the U.S. Department of Agriculture export sales of 120,000 metric tons of soybeans for delivery to unknown destinations during the 2016/2017 marketing year.
The marketing year for soybeans began Sept. 1.
Corn ratings fell for the first time this year, so naturally prices are lower overnight. I guess maybe I don't understand, but isn't it supposed to be the other way around? Anyway, corn ratings declined by 2 percentage points to 74% week-over-week, led by Ohio which fell 7 points. Not too surprising considering how dry it's been up that way. Hopefully they can catch some of the rain parts of the Midwest will reportedly get this week.
Here's what happened overnight:
Brent Crude Oil = 0.3% higher.
West Texas Intermediate Crude Oil = 0.4% higher.
Dollar = up 0.1%.
Wall Street = U.S. stock futures slightly higher in overnight trading.
World Markets = Global stocks rise with oil futures.
Re: Floor Talk August 9
Elevator here I see is offering free dp of old crop corn to May 17 wonder what they know and I don, t