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marketeye
Veteran Advisor

Floor Talk January 26, 2021

At the close:

 

At the close, the March corn futures closed 20 3/4¢ higher at $5.32 1/2. May corn futures settled 19 1/4¢ higher at $5.33 1/4. New crop December corn futures finished 9 3/4¢ higher at $4.44 3/4.

March soybean futures closed 26 3/4¢ higher at $13.70 1/4. May soybean futures closed 26 3/4¢ higher at $13.69 3/4. New crop November futures finished 18 1/4¢ higher at $11.48 1/2.

March wheat futures closed 16 3/4¢ higher at $6.65 1/2.


March soymeal futures settled $6.90 short term higher at $436.50.


March soy oil futures closed 0.97 higher at 43.91¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.22 per barrel lower (-0.42%) at $52.55. The U.S. dollar is lower, and the Dow Jones Industrials closed 32 points lower (+0.10%) at 30,992 points.

 

Mike

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At midsession:

 

At midsession, the March corn futures are 17 3/4¢ higher at $5.29 1/2. May corn futures are 17 1/4¢ higher at $5.31 1/4. New crop December corn futures are 9 3/4¢ higher at $4.44 3/4.

March soybean futures are 28 1/2¢ higher at $13.71 1/4. May soybean futures are 27 3/4¢ higher at $13.70 3/4. New crop November futures are 19 1/4¢ higher at $11.49 1/2.

March wheat futures are 17¢ higher at $6.65 1/2.


March soymeal futures are $7.80 short term higher at $437.40.


March soy oil futures are 0.98 higher at 43.92¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.37 per barrel lower (-0.70%) at $52.40. The U.S. dollar is lower, and the Dow Jones Industrials closed 11 points lower (-0.04%) at 30,948 points.

 

Mike

 

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3 Replies
rickgthf
Senior Advisor

Re: Sold some corn today at $5.33 picked up.

I sold some corn today at $5,33 picked up which is actually a little better than a few ago at the high by the time you figure basis and trucking.  Looks like the basis here is actually getting a little stronger. When the price first jumped they tried to take it out of the basis.

How are prices elsewhere?

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sw363535
Honored Advisor

Re: Sold some corn today at $5.33 picked up.

Good for you Rick.   We are seeing the same -- basis holding strong.  The one thing I see is that in the knee jerk Funds/usda bounce we have seen old crop prices and new crop prices separate as one would expect.  But out here on the slope of the rockies New Crop basis has not weakened ....just new crop futures are just starting to lag below the extremes.

willingness to make contracts on december 21 is still strong.

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nitefarm
Advisor

Re: Sold some corn today at $5.33 picked up.

Which of the two ,the producers ,the buyers, or both?  I was just wondering if you or anyone had some idea if many contracts were being signed for new crop  at the current prices  Thanks 

 

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