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Veteran Contributor
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Registered: ‎09-09-2014
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Floor Talk February 12

[ Edited ]

At the close:

At the close, the March corn futures finished 5¢ higher at $3.67. May futures finished 5¢ higher at $3.74 3/4. March soybean futures settled 18 3/4¢ higher at $10.01 3/4.  May soybean futures closed 19¢ higher at $10.12 1/2. March wheat futures ended 15¢ higher at $4.64. March soy meal futures settled $14.00 per short ton higher at $357.80. January soy oil futures closed 0.11 lower at 31.85¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.24 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 507 points higher.

 

Mike

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At mid-session:

At mid-session, the March corn futures are 3¢ higher at $3.65. May futures are 3 1/4¢ higher at $3.73. March soybean futures are 9 3/4¢ higher at $9.92.  May soybean futures are 10 1/4¢ higher at $10.03 3/4. March wheat futures are 9 1/2¢ higher at $4.58 1/2. March soy meal futures are $10.00 per short ton higher at $353.80. January soy oil futures are 0.01 lower at 31.95¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.55 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 441 points higher.

 

Mike

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In early trading:

At 8:50am, the March corn futures are 4¢ higher at $3.66. May futures are 4 1/4¢ higher at $3.74. March soybean futures are 17¢ higher at $10.00.  May soybean futures are 17¢ higher at $10.10. March wheat futures are 9 3/4¢ higher at $4.58. March soy meal futures are $13.00 per short ton higher at $356.80. January soy oil futures are 0.04 higher at 32.00¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.92 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 229 points higher.

 

Mike

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Soybeans hit the $10 mark overnight and grains also jumped on a weaker dollar combined with rising palm oil prices. The value of the greenback dropped 0.2% back to the lowest level in about a week, which may give overseas buyers the nudge they need to purchase U.S. supplies. Palm oil prices were reportedly at a one-month high, which may improve the sales outlook for competing oilseeds across the board. Beans jumped 17 cents, corn was up about 4 cents and wheat gained 7-8 cents overnight. Money managers cut their net-short positions, or bets on lower prices, in corn and beans to months-long lows while actually moving to a bullish position in hard-red winter wheat. In weather news, wind chills are going to be a balmy minus-55 degrees F this morning in northern Montana. It's going to be cold in North Dakota and Minnesota, but not near as cold with wind chills around minus-35, according to the National Weather Service. Get the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-february-12.
 

Brent Crude Oil = up 1.2%.

West Texas Intermediate = up 1.5%.

Dollar = down 0.2%.

Wall Street = U.S. stock futures higher in pre-market trading.

World Markets = Global stocks higher overnight.

Senior Advisor
Posts: 2,693
Registered: ‎11-02-2010
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Re: Floor Talk February 12

[ Edited ]

Looks like beans have a chance to run....well tried to post a chart and it doesn't fit right....sooooo