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12-27-2018 08:09 AM - edited 12-27-2018 01:50 PM
At the close:
At the close, the March corn futures finished 1 1/2¢ higher at $3.74. May futures closed 1¢ higher at $3.82.
January soybean futures finished 1/4¢ lower at $8.69. March soybean futures finished 1/2¢ lower at $8.82 1/2.
March wheat futures finished 1/2¢ higher at $5.10 1/2.
March soymeal futures closed 0.40¢ per short ton higher at $308.30. March soy oil futures closed 0.02 lower at 27.63¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.81 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 549 points lower.
In early trading, the March corn futures are 1 3/4¢ higher at $3.75. May futures are 1 1/2¢ higher at $3.82.
January soybean futures are 2¢ higher at $8.72. March soybean futures are 2¢ higher at $8.85.
March wheat futures are 1/2¢ higher at $5.10. March soymeal futures are 1.20¢ per short ton higher at $309.10. March soy oil futures are 0.03 higher at 27.68¢ per pound. In the outside markets, the NYMEX crude oil market is $0.71 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 417 points lower.
Al Kluis, Kluis Advisors, says end of the year positioning is hitting the markets.
“The end-of-the-year selling continues. Light volume may also be part of the reason we moved to the downside. This has to be disheartening for the bulls for US grains to struggle while the outside markets rebound. Expect choppy trade to close out the year,” Kluis stated in a daily note to customers.
Kluis added, “With US grain prices coming under some more pressure, will China start to buy more grain from the US? With the partial government shutdown, we will not get any notification of any export sales. Until we get the government back open, watch the basis levels at the Gulf and Pacific Northwest for any signs of export sales.”
Corn= Up 3¢.
Soybeans= 3¢ higher per bushel.
Wheat= 1¢ higher.
Crude oil= $0.51 lower
U.S. Dollar= Lower
Dow= Down 349 points
What do you know?