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marketeye
Veteran Advisor

Floor Talk February 16, 2021

At the close:

At the close, the March corn futures finished 13 1/4¢ higher at $5.52 1/4. May corn futures closed 13 1/4¢ higher at $5.49 3/4. New crop December corn futures ended 9¢ higher at $4.57 3/4.

March soybean futures settled 12 1/2¢ higher at $13.84 1/2. May soybean futures closed 14 3/4¢ higher at $13.85 3/4. New crop November futures finished 12 3/4¢ higher at $11.85 3/4.

March wheat futures closed 20 3/4¢ higher at $6.57 1/2.


March soymeal futures settled $1.20 short term higher at $428.40.


March soy oil futures finished 1.23 higher at 47.27¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.65 per barrel higher (+1.09%) at $60.12. The U.S. dollar is higher, and the Dow Jones Industrials are 96 points higher (+0.31%) at 31,555 points.

Britt O'Connell, ever.ag, says that the market starts the week lacking strong direction.

"On the overnight session soybeans were as high as $11.94 and corn $5.51, heading into the back half of the overnight and start of the day trade we struggled to maintain positive gains. Midsession we find ourselves trading the range. Without any fresh bullish news the bears may wake and capture the market with chatter of a growing South American crop and doubts around the Chinese demand," O'Connell says.

 

 

At midsession:

At midsession, the March corn futures are 8 1/4¢ higher at $5.47 1/4. May corn futures are 8 1/4¢ higher at $5.44 3/4. New crop December corn futures are 4¢ higher at $4.52 3/4.

March soybean futures are 7 1/2¢ higher at $13.79 1/2. May soybean futures are 8 3/4¢ higher at $13.80. New crop November futures are 7 3/4¢ higher at $11.80 3/4.

March wheat futures are 16¢ higher at $6.52 1/2.


March soymeal futures are $1.40 short term lower at $425.80.


March soy oil futures are 1.40 higher at 47.44¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.33 per barrel higher (+0.55%) at $59.80. The U.S. dollar is higher, and the Dow Jones Industrials are 11 points higher (+0.04%) at 31,470 points.

 

Mike

---------

At 8:45am:

 

Ag markets move higher Tuesday.

 

Mike

 

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1 Reply
k-289
Senior Advisor

Re: Floor Talk February 16, 2021

Any  thoughts on todays,  electrical  $9000.oo +  Mega  Watt  pricing  spike,  vs.  the  $50.oo  price  ""  Normal "" rate - ?   

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