Floor Talk January 29
At the close:
The March futures corn contract settled 1/4 of a cent higher at $7.29. The March soybean futures contract finished 4 cents higher at $14.51. March wheat futures ended 2 cents lower at $7.77 per bushel. The March soyoil futures contract closed$0.18 lower at $51.71. The March soymeal futures settled $3.40 per short ton higher at $423.70.
In the outside markets, the NYMEX crude oil is $1.03 per barrel higher, the dollar is lower and the Dow Jones Industrials are 75 points higher.
The March futures corn contract is trading 1 cent higher at $7.30. The March soybean futures contract is trading 3 cents higher at $14.50. March wheat futures are trading 4 cents higher at $7.83 per bushel. The March soyoil futures contract is trading $0.10 higher at $51.99. The March soymeal futures are trading $1.30 per short ton higher at $421.60.
In the outside markets, the NYMEX crude oil is $1.14 per barrel higher, the dollar is lower and the Dow Jones Industrials are 55 points lower.
Early calls: Corn is seen 1-2 cents higher, soybeans 2-4 cents higher, and wheat 1-2 cents higher.
Overnight grain, soybean markets=Trading mostly higher.
Crude Oil=$0.11 per barrel higher.
Wall Street=Seen lower, as investors await econmic reports such as November's home price data, consumer confidence and others. Ford announced quarterly earnings that beat the street Tuesday.
World=Asia/Pacific stocks were mixed and Europe's stocks mostly lower.
More in a minute,
Re: Floor Talk January 29
Here is an interesting letter released to customers of CME Group customers Tuesday:
Since implementing extended trading hours in May of 2012, we’ve received significant customer feedback from a broad cross-section of market participants, including through a formal survey we implemented last week. Though our survey is still underway, we have enough of your responses to be able to decide to reduce trading hours for our grain and oilseed markets, pending CFTC approval. However, as there were varying opinions on what the reduced hours should be, we are continuing to vet alternatives with our customer base. We will be communicating more specifics on the revised hours in the coming weeks.
In addition, with respect to market pauses during USDA reports, CME Group understands the frustration of many of our customers, and we are open to considering a market pause allowing participants to evaluate the data if all exchanges and trading venues would do the same. We would support a halt, as long as it was unified for all venues, as that would best benefit all customers by ensuring the necessary market liquidity needed for effective price discovery during this time.
To Our Customers,
At CME Group, we are committed to the integrity of our deep and liquid grain markets, and listen intently
to feedback from all of our customers. We regret that recent comments in press reports this week were
not representative of that commitment.
We recognize the importance of this issue, and we take customer feedback seriously. Our entire
organization will continue to work with all of you and other industry participants to ensure efficient markets," CME Group's Terry Duffy.