At the close:
At the close, the March corn futures finished 2 1/2¢ lower at $3.80. May corn futures closed 2 1/4¢ lower at $3.85.
March soybean futures settled 5¢ higher at $8.97 1/4. May soybean futures closed 3 1/4¢ higher at $9.05 1/2.
May soymeal futures settled $0.80 per short ton higher at $293.00. May soy oil futures finished $0.14 cents lower at 30.34¢ per pound.
March wheat futures finished 1 1/2¢ lower at $5.65 1/4.
In the outside markets, the NYMEX crude oil market is $1.31 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 144 points higher.
Mike
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At midsession:
At midsession, the March corn futures are 2 1/2¢ lower at $3.80. May corn futures are 2 1/4¢ lower at $3.85.
March soybean futures are at 2 1/2¢ higher at $8.94 1/4. May soybean futures are 1 1/2¢ higher at $9.03.
May soymeal futures are $0.80 per short ton higher at $293.00. May soy oil futures are $0.37 cents lower at 30.11¢ per pound.
March wheat futures are 7 3/4¢ lower at $5.59.
In the outside markets, the NYMEX crude oil market is $1.05 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 140 points higher.
Jack Scoville, The Price Futures Group’s senior grain analyst, says today’s stronger markets a consolidation day today.
“No one is sure when China will actually start buying, despite news yesterday that the reduced tariffs regime will kick in the first of next month. That does not mean the Chinese will buy here, but they can start. Been a kind of two sided and quiet spec trade, so far, and no one seems too interested in doing anything big. Wheat is lower after going too high yesterday. That is dragging on the corn as well. Beans kind of mixed with all eyes still on Brazil. Been a little wet down there, so harvest is still delayed. Still very big harvest, but delayed, and maybe some buyers are looking at less at ports down there right now,” Scoville says.
Mike
