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Veteran Contributor

Floor Talk February 14

At the close:

At the close, the March corn futures finished 1/4¢ higher at $3.67. May futures finished even at $3.74. March soybean futures closed 5 1/2¢ higher at $10.17 1/4.  May soybean futures settled 5 1/2¢ higher at $10.27 3/4. March wheat futures closed 5¢ lower at $4.55 3/4. March soy meal futures closed $4.70 per short ton higher at $369.90. January soy oil futures ended 0.23 higher at 31.80¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.27 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 162 points higher.

 

Mike

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At mid-session:

At mid-session, the March corn futures are 1 1/4¢ higher at $3.68. May futures are 1¢ higher at $3.75. March soybean futures are 4 1/4¢ higher at $10.16.  May soybean futures are 4 1/2¢ higher at $10.26. March wheat futures are 5 1/2¢ lower at $4.55. March soy meal futures are $2.60 per short ton higher at $367.80. January soy oil futures are 0.02 higher at 31.59¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.23 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 5 points lower.

 

Mike

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In early trading:

At 9:30am, the March corn futures are 1 1/2¢ higher at $3.68. May futures are 1 1/2¢ higher at $3.75. March soybean futures are 2 3/4¢ higher at $10.14.  May soybean futures are 2 3/4¢ higher at $10.25. March wheat futures are 1¢ lower at $4.59. March soy meal futures are $0.50 per short ton higher at $365.70. January soy oil futures are 0.10 lower at 31.47¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.52 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 10 points higher.

 

Mike

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Happy Valentine's Day. I sure hope you remembered to get that special someone in your life something special! 

Anyway, soybeans were lower overnight after rising a dime yesterday, meaning investors are booking profits. Beans lost about 3 cents, corn declined about 2 cents and wheat was off by 3-4 cents overnight. Fundamentally nothing has changed -- the weather in Argentina is still dry, and CWG Ag said they don't see it raining enough anytime soon to help crops. In the southern Plains, it's extremely dry and there's zero relief on the horizon. But prices are lower this morning on technical selling, and as some analysts recommend sales of grains and beans due to the rise in prices. In other news, Iowa State came out with a report recently showing that overall costs of production will decline slightly as lower land and input prices offset rising fuel costs, but only barely. In weather news, it's going to be cold in the northern Plains with some snow expected, while rain is forecast in the Mississippi River and Ohio River valleys, according to the National Weather Service. Get all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-february-14.
 

Brent Crude Oil = down 0.7%.

West Texas Intermediate = down 0.4%.

Dollar = down 0.1%

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

World Markets = Global stocks higher overnight.

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