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Veteran Contributor

Floor Talk February 1

At the close:

At the close, the March corn futures ended 3/4 of a cent lower at $3.71 1/4. March soybean futures finished 1 1/2 cents lower at $8.80 3/4. 
March wheat futures closed 4 cents lower at $4.75 1/4. March soymeal futures finished $1.40 per short ton lower at $271.00. March soyoil futures ended $0.12 lower at $30.76.  
In the outside markets, the NYMEX Crude oil market is $2.07 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 48 lower.

 

Mike

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At 12:20pm;

All market remain lower.

Jack Scoville, The PRICE Futures Group Senior Market Analyst, says that lot of the selling is related to the falling crude oil market.  “There really has not been anything else going on.  The big storm should be supporting grains as transport in the north and west will get hard, but no one seems to care too much.  Brazil and Arg quiet so far today as well.  Export inspections not bad except for wheat, which were not real strong.  Trading is very quiet, I am reminded of the old adage never sell a sleeping bear.  But, the funds and the rest are selling anyway.”

 

Mike

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At mid-session:

At mid-session, the March corn futures are trading 2 1/2 cents lower at $3.69. March soybean futures are 1 1/4 cents lower at $8.81. 
March wheat futures are trading 6 1/4 cents lower at $4.73. March soymeal futures are $1.40 per short ton lower at $271.10. March soyoil futures are trading $0.08 lower at $30.80.  
In the outside markets, the Brent Crude oil market is $1.56 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 71 lower.

 

Mike

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At the open:

At the open, the March corn futures are trading 4 1/4 cents lower at $3.67. March soybean futures are 5 1/2 cents lower at $8.76. 
March wheat futures are trading 6 cents lower at $4.73. March soymeal futures are $1.80 per short ton higher at $268.70. March soyoil futures are trading $0.03 lower at $30.66.  
In the outside markets, the Brent Crude oil market is $0.49 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 129 higher.

 

Mike

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Happy Monday. 
 

Corn, soybeans and wheat were all lower this morning. Wheat futures declined on added reports that Russia won't increase its export tax on shipments of the grain. 

 

At 6:10 am:

 

Early calls:

Wheat 3-5 lower, corn 1-2 lower and soybeans 2-4 lower. 

 

Trackers:

Overnight wheat, corn and beans all lower.  

 

Brent Crude Oil = 0.1% lower.

West Texas Intermediate Crude Oil = 1.1% lower.

Dollar = down 0.2%.

Wall Street = Stock futures drop overnight as crude falls.  
World Markets = Global stocks decline on negative China data report.. 

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