At the open:
The March futures corn contract settled 3 cents lower at $6.98. The March soybean futures contract finished 8 cents higher at $14.26. March wheat futures closed 9 cents higher at $7.41 per bushel. The March soyoil futures contract closed $0.05 higher at $51.75. The March soymeal futures are trading $2.80 per short ton higher at $410.00.
In the outside markets, the NYMEX crude oil is $0.50 per barrel higher, the dollar is higher and the Dow Jones Industrials are 7 points lower.
Mike
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At 8:10am:
--USDA announces Friday that an 'unknown' canceled 250,000 tons of U.S. soybeans for 2012-13.
--Corn has not finished lower 11 consecutive days since 1965. Today, would match that mark, if prices fall. However, the market is expected to be higher.
--Rumors swirl that Brazil and China are in the market for U.S. wheat.
Mike
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At 7:35am:
Early calls: Corn is seen 6-8 cents higher, soybeans 6-7cents higher, and wheat 6-8 cents higher.
Trackers:
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.47 per barrel lower.
Dollar=Higher.
Wall Street=Seen lower, as more company's report earnings. Kraft missed the street's expectations when it reported Friday.
World=Asia/Pacific stocks were mostly lower and Europe's stocks were higher.
More in a minute,
Mike
