Floor Talk February 9
At the close:
At the close, the March corn futures settled 3 3/4¢ lower at $3.62. May futures finished 3 1/2¢ lower at $3.69 3/4. March soybean futures ended 4 3/4¢ lower at $9.83. May soybean futures ended 5 1/4¢ lower at $9.93 1/2. March wheat futures finished 7 1/2¢ lower at $4.49. March soy meal futures closed $2.10 per short ton higher at $343.80. January soy oil futures settled 0.25 lower at 31.96¢ per pound. In the outside markets, the NYMEX crude oil market is $1.61 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 21 points higher.
At 11:00am, the March corn futures are 1 1/2¢ lower at $3.64. May futures are 1 1/2¢ lower at $3.71. March soybean futures are 1 3/4¢ lower at $9.86. May soybean futures are 2¢ lower at $9.96. March wheat futures are 6 1/2¢ lower at $4.49. March soy meal futures are $0.80 per short ton higher at $342.50. January soy oil futures are 0.04 lower at 32.17¢ per pound. In the outside markets, the NYMEX crude oil market is $1.55 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 237 points lower.
The Argentina truck drivers strike ended last night. Our correspondent in Argentina reports that the government officials received word that the strikers agreed to come to the negotiation table with traders, government and transportation companies to talk about transport tariffs.
Also, there is word that China has canceled four cargoes of U.S. corn, due to tightening of regulations on GMO corn. It has replaced U.S. corn with non-GMO Ukrainian corn.
In early trading:
At 9:00am, the March corn futures are 3/4¢ lower at $3.65. May futures are 1/4¢ lower at $3.73. March soybean futures are 3 1/2¢ lower at $9.84. May soybean futures are 4¢ lower at $9.94. March wheat futures are 3 1/2¢ lower at $4.52. March soy meal futures are $3.00 per short ton lower at $338.70. January soy oil futures are 0.31 higher at 32.52¢ per pound. In the outside markets, the NYMEX crude oil market is $0.92 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 282 points higher.
Grains and soybeans were lower in overnight trading after the WASDE report in which the government raised stockpiles for both beans and wheat, though corn inventories were lowered. Soybeans were down 4 cents, corn dropped 2 cents and wheat lost 4-6 cents overnight. Export sales, on the other hand, were good for the week that ended on Feb. 1. Corn sales were reported at 1.77 million bushels, soybeans came in at 743,200 tons and wheat sales totaled 393,400 tons. according to the USDA. In weather news, northern Illinois, southern Wisconsin, northern Indiana and southern Michigan are all getting hit by a winter storm this morning. The snow is expected to taper off in northern Illinois but continue throughout the day in southern Michigan where up to 10 inches is expected. Check out all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-february-9.
Brent Crude Oil = down 1.1%.
West Texas Intermediate = down 1.5%.
Dollar = up 0.2%.
Wall Street = U.S. stock futures lower in pre-market trading.
World Markets = Global stocks lower overnight.
Re: Floor Talk February 9
Gmo products would be accepted in China.
Now China has turned down a shipment from
Us because of gmo.
Someone has some explaining to do, and maybe
Paying some money out