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Tony_Dreibus
Veteran Contributor

Floor Talk January 30

At the close:

At the close, the March corn futures finished 2 3/4¢ higher at $3.61 1/2. May futures finished 2 3/4¢ higher at $3.69 3/4. March soybean futures finished 8 3/4¢ higher at $10.00 1/4.  May soybean futures closed 8 1/2¢ higher at $10.11 1/4. March wheat futures finished 8¢ higher at $4.57 1/4. March soy meal futures settled $3.10 per short ton higher at $340.50. January soy oil futures ended 0.21 higher at 33.08¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.21 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 349 points lower.

 

Mike

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At mid-session:

At mid-session, the March corn futures are 1 1/2¢ higher at $3.60. May futures are 1 1/2¢ higher at $3.68. March soybean futures are 6 1/2¢ higher at $9.98.  May soybean futures are 6 1/4¢ higher at $10.09. March wheat futures are 4¢ higher at $4.53. March soy meal futures are $2.50 per short ton higher at $339.90. January soy oil futures are 0.04 lower at 32.83¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.30 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 293 points lower.

 

Mike

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In early trading:

At 8:45am, the March corn futures are 2¢ higher at $3.60. May futures are 1 3/4¢ higher at $3.68. March soybean futures are 5 1/4¢ higher at $9.96.  May soybean futures are 5 1/4¢ higher at $10.08. March wheat futures are 4 1/2¢ higher at $4.53. March soy meal futures are $2.20 per short ton higher at $339.60. January soy oil futures are 0.16 lower at 32.71¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.29 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 323 points lower.

 

Mike

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Wheat futures jumped overnight after the USDA released a report showing only 14% of the Kansas winter crop was rated good or excellent as of Sunday, down from 37% at the end of December. Ouch. Drought has spread throughout the southern Plains where little or no rain has fallen in at least the past 30 days. Chicago wheat rose 6 cents to a three-month high while Kansas City futures jumped 11 cents to a four-month high. Export inspections were good for corn and wheat in the week through Jan. 25, but down for soybeans. In weather news, it's another dry, potentially hazardous day (in terms of fire conditions) for the southern Plains. A red flag warning has spread into several Oklahoma and Texas counties due to low humidity and strong winds. Check out the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-january-30.

 

Brent Crude Oil = down 0.7%.

West Texas Intermediate = down 1.1%.

Dollar = down 0.2%.

Wall Street = U.S. stock futures lower in pre-market trading.

World Markets = Global stocks lower overnight.

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