Floor Talk February 23, 2021

[marketeye]

At the close:

At the close, the March corn futures closed 2 3/4¢ higher at $5.53 1/2. May corn futures finished 2¢ higher at $5.52 3/4. New crop December corn futures closed unchanged at $4.69 1/4.

March soybean futures closed 22 1/2¢ higher at $14.06 3/4. May soybean futures settled 21¢ higher at $14.08 1/2. New crop November soybean futures closed 10 1/2¢ higher at $12.22.

May wheat futures finished 1/2¢ higher at $6.70 3/4.


May soymeal futures closed $3.10 short term higher at $426.00.


May soy oil futures closed 1.15 higher at 48.37¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.16 per barrel higher (+0.26%) at $61.86. The U.S. dollar is higher, and the Dow Jones Industrials are 4 points lower (-0.01%) at 31,517 points.

Mike

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At 8:45am:

Soybeans rally 22¢ Tuesday, trade over $14 per bushel.

Mike

[rickgthf]

With new crop beans (& corn) at these prices, you gotta thinking about locking some in.  If I can raise beans at a profit at $9, I can sure raise them at a profit at $12.

[roarintiger1]

I can make more money if I wait until beans are $14. 

[rickgthf]

That's the $64 question.

[nitefarm]

Patience IMHO