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Tony_Dreibus
Veteran Contributor

Floor Talk February 5

Looking for a marketing play?

 

Full Story:  Here's Your Marketing Strategy

 

Mike

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At the close:

At the close, the March corn futures settled 2 3/4 cents lower at $3.65 3/4. March soybean futures finished 7 cents lower at $8.67 1/2. 
March wheat futures ended 6 cents lower at $4.66 3/4. March soymeal futures closed $2.60 per short ton lower at $265.00. March soyoil futures finished $0.01 lower at $31.23.  
In the outside markets, the Brent Crude oil market is $0.45 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 246 lower.

 

Jason Ward, Northstar Commodity Investment Co., says the grain markets were being pressured from all sides.
“Weaker financials and weaker energy on top of good rains developing for Argentina hurt the markets. And, it didn't help that a wheat tender was canceled either,” Ward says.

 

Mike

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At mid-session:

At mid-session, the March corn futures are trading 2 1/4 cents lower at $3.66. March soybean futures are 4 cents lower at $8.70. 
March wheat futures are trading 6 1/2 cents lower at $4.66. March soymeal futures are $2.10 per short ton lower at $265.50. March soyoil futures are trading $0.16 higher at $31.40.  
In the outside markets, the Brent Crude oil market is $0.18 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 171 lower.

 

Mike

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At the open:

At the open, the March corn futures are trading 1 1/4 cents lower at $3.67 1/4. March soybean futures are 1/4 of a cent lower at $8.74. 
March wheat futures are trading 2 3/4 cents lower at $4.70. March soymeal futures are $0.60 per short ton lower at $267.00. March soyoil futures are trading $0.18 higher at $31.42.  
In the outside markets, the Brent Crude oil market is $0.17 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 57 lower.

 

Mike

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Good morning. 

Soybeans are higher overnight after Brazil's Ag Ministry lowered its outlook for production in the South American country. The forecast is now for 100.9 million metric tons, still a monster crop. 

 

At 6:15 am:

 

Early calls:

Wheat 1-2 lower, corn 1-2 lower and soybeans 1-2 higher. 

 

Trackers:

Overnight soybeans higher, wheat and corn lower.  

 

Brent Crude Oil = 0.5% higher.

West Texas Intermediate Crude Oil = 0.9% higher.

Dollar = 0.2% higher.

Wall Street = Stock futures up slightly on mixed economic news.  
World Markets = Global stocks mostly higher.

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