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marketeye
Veteran Advisor

Floor Talk February 11, 2021

At the close:

At the close, the March corn futures closed 6 1/2¢ higher at $5.41. May corn futures closed 7¢ higher at $5.39 3/4. New crop December corn futures closed 4 1/2¢ higher at $4.52 1/2.

March soybean futures finished 13 1/2¢ higher at $13.67 1/2. May soybean futures ended 14 1/4¢ higher at $13.66 3/4. New crop November futures settled 10 1/4¢ lower at $11.74 1/4.

March wheat futures finished 2¢ lower at $6.33 1/2.


March soymeal futures settled $6.60 short term higher at $428.90.


March soy oil futures closed 0.06 lower at 45.63¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.63 per barrel lower (-1.07%) at $58.05. The U.S. dollar is lower, and the Dow Jones Industrials are 97 points lower (-0.31%) at 31,340 points.

Mike

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At midsession:

At midsession, the March corn futures are 7 3/4¢ higher at $5.42 1/4. May corn futures are 7 1/2¢ higher at $5.40 3/4. New crop December corn futures are 1¢ higher at $4.49.

March soybean futures are 20¢ higher at $13.74. May soybean futures are 19 3/4¢ higher at $13.72 3/4. New crop November futures are 13 1/4¢ lower at $11.77 1/4.

March wheat futures are 1/2¢ higher at $6.36.


March soymeal futures are $7.10 short term higher at $429.40.


March soy oil futures are 0.36 higher at 46.05¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.15 per barrel lower (-0.26%) at $58.53. The U.S. dollar is lower, and the Dow Jones Industrials are 7 points higher (+0.02%) at 31,445 points.

Mike

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At 8:45am:

 

It's a return to higher ground for Thursday's farm markets.

 

 

Mike

---------------

At 7:50am:

 

USDA Weekly Export Sales:

 

Corn= 1.46 million metric tons

 

Soybeans= 983,200 mt.

 

Wheat=  635,400 mt.

 

Soymeal= 264,700 mt.

 

Note: China is closed for 10 days, due to the Holidays.

 

The overnight markets were down, but made a comeback.

 

Mike

 

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5 Replies
Hobbyfarmer
Honored Advisor

Re: Floor Talk February 11, 2021

This is a "cottontail rabbit" market. 

More zigs and zags than a rabbit with a dog in hot pursuit...

 

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wrightcattle
Veteran Advisor

Re: Floor Talk February 11, 2021


@marketeye wrote:

At 8:45am:

 

It's a return to higher ground for Thursday's farm markets.

 

 

Mike

---------------

At 7:50am:

 

USDA Weekly Export Sales:

 

Corn= 1.46 million metric tons

 

Soybeans= 983,200 mt.

 

Wheat=  635,400 mt.

 

Soymeal= 264,700 mt.

 

Note: China is closed for 10 days, due to the Holidays.

 

The overnight markets were down, but made a comeback.

 

Mike

 


 

Perhaps folks have discovered that they all did not quit eating yesterday. 

 

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Hobbyfarmer
Honored Advisor

Re: Floor Talk February 11, 2021

10 day Chinese New year holiday doldrums have started.

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roarintiger1
Honored Advisor

Re: Floor Talk February 11, 2021

10 days for the spring to get coiled tighter and tighter. 

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Hobbyfarmer
Honored Advisor

Re: Floor Talk February 11, 2021

RT, the "spring" is of suspect quality and durability

as the package it came in said "made in China"

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