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marketeye
Veteran Advisor

Floor Talk February 26, 2021

At the close:

At the close, the May corn futures closed 2 1/2¢ lower at $5.47 1/4. July corn futures finished 4 3/4¢ lower at $5.35. New crop December corn futures closed 3 1/4¢ lower at $4.70 3/4.

May soybean futures settled 3 1/4¢ lower at $14.04 1/4. July soybean futures closed 5 3/4¢ lower at $13.91 1/2. New crop November soybean futures closed 7 3/4¢ lower at $12.23 3/4.

May wheat futures finished 15 1/4¢ lower at $6.60 3/4.

May soymeal futures finished $1.60 short term lower at $421.40.


May soy oil futures closed 0.27 higher at 49.94¢ per pound.

In the outside markets, the NYMEX crude oil market is $1.86 per barrel lower (-2.93%) at $61.67. The U.S. dollar is higher, and the Dow Jones Industrials are 475 points lower (-1.51%) at 30,926 points.

Jason Roose, U.S. Commodities, says that Friday's markets responded negatively to weak demand numbers.

“Today's lower market was a hangover trade from yesterday with the poor exports and the strong dollar. The small corn export cancellation, yesterday, gave a small sign that demand may be slowing,” Roose says.

Mike

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At midsession:

At midsession, the May corn futures are 5 1/2¢ lower at $5.44 1/4. July corn futures are 7¢ lower at $5.32 3/4. New crop December corn futures are 3 3/4¢ lower at $4.70 3/4.

May soybean futures are 11 3/4¢ lower at $13.95 1/4. July soybean futures are 13 1/4¢ lower at $13.84 1/2. New crop November soybean futures are 13¢ lower at $12.17 3/4.

May wheat futures are 10 1/4¢ lower at $6.65 3/4.


May soymeal futures are $3.00 short term lower at $420.00.


May soy oil futures are 0.37 lower at 49.30¢ per pound.

In the outside markets, the NYMEX crude oil market is $1.03 per barrel lower (-1.62%) at $62.50. The U.S. dollar is higher, and the Dow Jones Industrials are 255 points lower (-0.81%) at 31,146 points.

Mike

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At 8:45am:

 

All farm markets drop Friday.

 

 

Mike

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k-289
Senior Advisor

Re: Floor Talk February 26, 2021

One  E- market  corn   bid   $ 5.40 ,  in Platte Valley  Nebraska  -  -  -

Beans   ADM - Lincoln   $14.07   - 

markets  subject to change due to electronic trading  

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