At the close:
At the close, the March corn futures finished 2 3/4¢ lower at $3.84. May corn futures ended 2 3/4¢ lower at $3.89 1/4.
March soybean futures settled 2¢ lower at $8.93. May soybean futures closed 2¢ lower at $9.07.
March wheat futures closed 7 3/4¢ lower at $5.62.
March soymeal futures closed $1.50 per short ton lower at $296.10.
March soy oil futures finished $0.06 cents higher at 31.52¢ per pound.
I
n the outside markets, the NYMEX crude oil market is $0.28 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 160 points higher.
Mike
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At midsession:
At midsession, the March corn futures are 1 3/4¢ lower at $3.84. May corn futures are 1 3/4¢ lower at $3.90 1/4.
March soybean futures are 2 1/4¢ lower at $8.92 3/4. May soybean futures are 2 1/4¢ lower at $9.06 3/4.
March wheat futures are 7 3/4¢ lower at $5.62.
March soymeal futures are $1.80 per short ton lower at $295.80.
March soy oil futures are $0.06 cents higher at 31.52¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.01 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 112 points higher.
Mike
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At 8:45am:
In early trading, the March corn futures are 2 1/2¢ lower at $3.84. May corn futures are 2 3/4¢ lower at $3.89 1/4.
March soybean futures are 1 1/4¢ lower at $8.93 3/4. May soybean futures are 1 1/4¢ lower at $9.07 3/4.
March wheat futures are 5 3/4¢ lower at $5.64.
March soymeal futures are $1.60 per short ton lower at $296.00.
March soy oil futures are $0.26 cents higher at 31.72¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.13 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 115 points higher.
Al Kluis, Kluis Advisors, says the bulls want to see test the soybean 10-day moving average near $9.12 on the March contract, something that hasn't happened since January 2, 2020.
“Corn futures were able to rebound on Tuesday and fill the gap from the lower start to the week on Sunday. Soybeans and wheat were unable to attract the same buying momentum as corn and settled the day lower. The lack of new export sales may limit any rally the soybean bulls are able to put together, even though prices are over 70 cents off the January 2 high, ” Kluis stated in a daily note to customers.
Kluis added, “Soybean prices have filled Sunday's gap on the charts. If soybean bulls can keep pushing higher, then will we see corn and soybeans follow suit? Or will we see some spreading, where traders buy soybeans and sell corn and/or wheat.”
Mike
