Floor Talk January 21
At the close:
The March corn futures contract settled 1 cents higher at $4.25. The March soybean futures contract closed 36 cents lower at $12.80. March wheat futures finished 1 1/4 cents lower at $5.62 per bushel. The March soymeal futures contract ended $18.00 per short ton lower at $416.50. The March soyoil futures settled $0.36 higher at $38.10.
In the outside markets, the NYMEX crude oil is $0.45 per barrel higher, the dollar is lower and the Dow Jones Industrials are 39 points lower.
Soybeans hit 2-month low.
The March corn futures contract is trading 1 1/4 cents lower at $4.22. The March soybean futures contract is trading 29 cents lower at $12.87. March wheat futures are 12 1/2 cents higher at $5.66 per bushel. The March soymeal futures contract is trading $15.10 per short ton lower at $419.40. The March soyoil futures are trading $0.43 higher at $38.17.
In the outside markets, the NYMEX crude oil is $0.21 per barrel higher, the dollar is higher and the Dow Jones Industrials are 94 points lower.
Jack Scoville, PRICE Futures Group vice-president, says Argentina had some billion dollar rains over the weekend with more on the way.
"That seems to be the big fundamental for the market right now. Specs are selling, farmers for me are quiet, my buy side is quiet too. I think specs will need to sell lots and lots of beans this week, but we will see," Scoville says.
The china imports are very strong, and noted that way but providing no support today, he says.
"The weather may be supporting wheat on winterkill ideas, but with beans 25 to 30 lower the support has been limited. Fund to be a bean bear today," he says.
At the open:
The March corn futures contract is trading 1 cent lower at $4.22. The March soybean futures contract is trading 16 cents lower at $13.00. March wheat futures are 1 cent higher at $5.64 per bushel. The March soymeal futures contract is trading $10.90 per short ton lower at $423.60. The March soyoil futures are trading $0.58 higher at $38.31.
In the outside markets, the Brent crude oil is $1.11 per barrel higher, the dollar is higher and the Dow Jones Industrials are 47 points higher.
Better weather in Argentina and rumors of a soybean sale cancellation push the beans lower.
Early calls: Corn is seen 2-4 cents lower, soybeans 12-14 cents lower, and wheat 1-2 cents higher.
Overnight grain, soybean markets=Trading mostly lower.
Brent Crude Oil=$1.00 per barrel higher.
Wall Street=Seen higher, with a busy earnings schedule.
World Markets=Asia/Pacific stocks were higher, Europe stocks higher.
More in a minute,
Re: Floor Talk January 21
that could be really funny crophugger--like "whose on 1st?"
no, I was doing that to get the spam off the 1st page....if you're logged in you can set your settings so that the last reply on ANY post pops that thread to the front of ALL the threads...i do that to keep updated on all responses regardless of how long ago they began....
....folks sometimes continue to keep a thread going for days, etc.
Re: Floor Talk January 21
i'm the least familiar w/ wheat, however 3 things.
1. although last wasde showed an increase in world supply - last 3 years is trending down.
2. don't believe US crop getting any bigger at this juncture.
3. both srw, hrw are near 2011 lows - good support, imo...could be some surprises in 2014???