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marketeye
Veteran Advisor

Floor Talk January 21, 2021

At the close:

At the close, the March corn futures closed 2 1/4¢ higher at $5.24 1/4. May corn futures closed 2 1/4¢ higher at $5.26 1/4.

March soybean futures ended 3/4¢ higher at $13.70 1/4. May soybean futures closed 1 1/2¢ higher at $13.68 3/4.

March wheat futures closed 7¢ lower at $6.60 1/4.


March soymeal futures settled $4.20 short term lower at $438.20.


March soy oil futures finished 0.89 higher at 43.43¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.17 per barrel lower (-0.32%) at $53.14. The U.S. dollar is lower, and the Dow Jones Industrials are 44 points higher (+0.14%) at 31,232 points.

Jack Scoville, PRICE Futures Group, says that it's a rebound session today.

“We started out like a gang of fire, but gave most of the early rally back. The daily sales of exports helped the upside for sure. I think, overall, the market has more room to rally but the South American weather is better and the harvest of soybeans has just started, so the going will get tougher now," Scoville says.

 

Mike

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At midsession:

At midsession, the March corn futures are 3¢ higher at $5.25. May corn futures are 3 1/4¢ higher at $5.27 1/4.

March soybean futures are 5 1/2¢ higher at $13.75. May soybean futures are 6¢ higher at $13.73 1/4.

March wheat futures are 6 1/2¢ lower at $6.61 1/4.

March soymeal futures are $1.10 short term lower at $441.30.


March soy oil futures are 0.73 higher at 43.27¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.33 per barrel lower (-0.62%) at $52.98. The U.S. dollar is lower, and the Dow Jones Industrials are 16 points lower (-0.05%) at 31,171 points.

 

Mike

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4 Replies
rickgthf
Senior Advisor

Re: Floor Talk January 21, 2021

Argentina and southern Brazil did get some rain but it was spotty in Central Brazil and the forecast for central Brazil remains dry for the next two weeks.

They're not out of the woods yet, by any means.

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k-289
Senior Advisor

Re: Floor Talk January 21, 2021

FIRE  DANGER   being  the  headline,  all  to  often ,  west  of  US  281 ,  Dakota's  to  Texas - - -

In  January , unheard  of ,  replacing Blizzard  warnings  -  -  -    

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wrightcattle
Veteran Advisor

Re: Floor Talk January 21, 2021


@k-289 wrote:

FIRE  DANGER   being  the  headline,  all  to  often ,  west  of  US  281 ,  Dakota's  to  Texas - - -

In  January , unheard  of ,  replacing Blizzard  warnings  -  -  -    


Theoretically that East of 281 should get a spring rain or 2 if lucky. 

Looks like its All gonna, be some dry this year we'll see. 

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sw363535
Honored Advisor

Re: Floor Talk January 21, 2021

The cotton crop was divided by nearly the same line....2020

West of that line there was not enough rain in the spring to sprout the dry land cotton for at least 6 weeks too late... Cotton does not forgive that when your on the edge of being too far north.  Weeks arent there to play with

East of 183 Greensburg-- dry cotton got a much better start.

The wheat crop west of there is healthy only because of two 5 inch snows between holidays and has endured one three day wind event in January ....... a dry spring will take it easily.  There is very little subsoil moisture.

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