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Veteran Contributor

Floor Talk February 2

At the close:

At the close, the March corn futures finished 1/4¢ lower at $3.61. May futures settled 1/2¢ lower at $3.69 1/2. March soybean futures closed 6 1/4¢ lower at $9.78 3/4.  May soybean futures finished 6 1/4¢ lower at $9.90 1/4. March wheat futures closed 4 1/4¢ lower at $4.46 3/4. March soy meal futures ended $2.60 per short ton lower at $331.40. January soy oil futures closed 0.39 lower at 32.51¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.46 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 648 points lower.

 

Mike

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At 12:15pm:

At mid-day, the March corn futures are even at $3.61. May futures are 1/4¢ lower at $3.69. March soybean futures are 5 1/4¢ lower at $9.79.  May soybean futures are 5 1/4¢ lower at $9.91. March wheat futures are 2 1/2¢ lower at $4.48. March soy meal futures are $2.00 per short ton lower at $332.00. January soy oil futures are 0.29 lower at 32.61¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.55 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 413 points lower.

 

Mike

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In early trading:

At 9:00am, the March corn futures are 1 3/4¢ lower at $3.60. May futures are 1 1/2¢ lower at $3.68. March soybean futures are 5 3/4¢ lower at $9.79.  May soybean futures are 5 3/4¢ lower at $9.90. March wheat futures are 4 1/4¢ lower at $4.46. March soy meal futures are $2.30 per short ton lower at $331.70. January soy oil futures are 0.32 lower at 32.58¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.04 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 300 points lower.

 

Mike

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Happy Groundhog Day!!! Soybeans were again lower overnight as some rainfall was added to the longer-term forecasts in Argentina, where's it's been very dry in recent weeks. The rain isn't expected until the 11- to 15-day forecast, so who knows if it's going to happen. A lot can change in two weeks. Beans were down 4 cents, wheat was down 2-3 cents and corn was little changed overnight. Happy Groundhog Day!!! Export sales of corn topped expectations and nearly double the prior four-week average last week at 1.85 million metric tons. It'd seem that the weaker dollar is finally helping corn, but soybean sales were at a marketing-year low and wheat sales also stunk up the room. Maybe we'll see better sales of beans and wheat next week. In weather news, it's going to be cold in Minnesota and Wisconsin, which isn't a surprise since it's still winter. Happy Groundhog Day!!! Get all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-february-2.

 

Brent Crude Oil = down 0.3%.

West Texas Intermediate = down 0.1%.

Dollar = up  0.2%.

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

World Markets = Global stocks lower overnight.

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2 Replies
Veteran Contributor

Re: Floor Talk February 2

You very smart people do realize that the damage is done in Argentina right? Oh wait that does not matter gotta find any reason possible too knock down prices.
Senior Contributor

Re: Floor Talk February 2

Crooks
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