At the close:
At the close, the March corn futures settled 8 1/2 cents lower at $3.73. January soybean futures finished 23 1/2 cents lower at $8.82 1/4.
March wheat futures closed 1 3/4 cents lower at $4.82 3/4.
Jan. soymeal futures closed $6.90 per short ton lower at $278.00. Jan. soyoil futures closed $0.83 lower at $31.25.
In the outside markets, the Brent Crude oil market is $2.27 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 117 points lower.
Mike
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At mid-session:
At mid-session, the March corn futures are trading 6 3/4 cents lower at $3.74 3/4. January soybean futures are trading 9 cents lower at $8.97.
March wheat futures are trading 2 3/4 cents higher at $4.87.
Jan. soymeal futures are $1.60 per short ton lower at $283.30. Jan. soyoil futures are trading $0.56 lower at $31.52.
In the outside markets, the Brent Crude oil market is $1.85 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 149 points lower.
Jack Scoville, The PRICE Futures Group Senior Market Analyst, says that this is a macro day.
“Nothing much was going on, but the weakness in Crude Oil seems to have triggered a lot of selling in grains and soybeans. It has been pretty quiet here for me today and listening around in the office it is kind of quiet for everyone. There will be plenty of crude oil and that along with ideas of better weather forecasts for South America this week seems to have been enough to push this thing down,” Scoville says.
Mike
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At 10:30am:
If you missed it, USDA announces fresh corn demand news Monday. What do you think?
Private exporters reported to the U.S. Department of Agriculture export sales of 115,000 metric tons of corn for delivery to Mexico during the 2015/2016 marketing year.
The marketing year for corn began Sept. 1.
Corn is down 5¢, soybeans are off 7¢, and wheat rises 5¢.
Mike
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In early trading:
At 8:50am, the March corn futures are trading 2 cents lower at $3.79. January soybean futures are trading 3/4 of a cent lower at $9.05.
March wheat futures are trading 5 1/4 cents higher at $4.89.
Jan. soymeal futures are $1.00 per short ton lower at $283.90. Jan. soyoil futures are trading $0.15 higher at $32.23.
In the outside markets, the Brent Crude oil market is $1.21 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 64 points lower.
Mike
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At 7:40am:
Early calls: Corn 1-2 cents lower, soybeans 2-4 cents lower and wheat 2-4 cents higher.
Trackers:
Overnight grain, soybean markets = Trading mixed.
Brent Crude Oil = $0.50 lower.
Dollar =Higher.
Wall Street = Seen higher, with a rally from last week to continue.
World Markets = Europe stocks were higher, Asia/Pacific stocks were higher.
More in a minute,
Mike
