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Tony_Dreibus
Veteran Contributor

Floor Talk January 31

At the close:

At the close, the March corn futures settled 2¢ higher at $3.59 3/4, and new crop December 2017 futures finished 1 3/4¢ higher at $3.87 1/4 per bushel. March soybean futures finished 1 3/4¢ higher at $10.24 1/2, while November 2017 soybean futures ended 3¢ lower at $10.01. March wheat futures closed 6 3/4¢ higher at $4.20 3/4. March soy meal futures ended $0.20 short ton higher at $334.60. March soy oil futures closed $0.24 higher at 33.85¢ per pound.  In the outside markets, the Brent crude oil market is $0.18 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 131 points lower.

 

Mike

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At mid-session:

At mid-session, the March corn futures are 2¢ higher at $3.59 3/4, and new crop December 2017 futures are 2 1/4¢ higher at $3.87 per bushel. March soybean futures are 3/4¢ higher at $10.23, while November 2017 soybean futures are 2 1/4¢ lower at $10.01. March wheat futures are 2 1/2¢ higher at $4.16. March soy meal futures are $0.90 short ton lower at $333.50. March soy oil futures are $0.35 higher at 33.96¢ per pound.  In the outside markets, the Brent crude oil market is $0.71 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 147 points lower.

 

Mike

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In early trading:

At 9am, the March corn futures are 1 1/4¢ higher at $3.59, and new crop December 2017 futures are 1 1/2¢ higher at $3.87 per bushel. March soybean futures are 2 1/2¢ higher at $10.25, while November 2017 soybean futures are 1/4¢ higher at $10.04. March wheat futures are 1/4¢ higher at $4.14. March soy meal futures are $0.10 short ton lower at $334.30. March soy oil futures are $0.28 higher at 33.89¢ per pound.  In the outside markets, the Brent crude oil market is $0.55 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 88 points lower.

 

Mike

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Soybeans and corn were slightly higher overnight on a rebound from the lowest level in almost three and two weeks, respectively. Beans added about 3 cents and corn gained about 2 cents. Wheat was little changed. In weather news, the southern half of Michigan and parts of northern Ohio are in a winter weather advisory, and rainfall in parts of Argentina and Brazil are expected to help recently planted crops in areas where rain was lacking, according to Commodity Weather Group.


Here's what happened overnight:

 

Brent Crude Oil = 0.4% higher.  

West Texas Intermediate Crude Oil = 0.1% higher.

Dollar = down 0.4%.

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

World Markets = Global stocks rise following oil, gold.  

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2 Replies
Hobbyfarmer
Honored Advisor

Re: Floor Talk January 31

Well not a turn around Tuesday, 

 

But at least it stopped at the stop sign and peeked around the corner.

 

To bad forward progress is baby steps and back sliding is cliff diving.

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JimMeade
Veteran Advisor

Re: Floor Talk January 31

Other than seasonal trends, what reason do we have for grain to improve very much in price?  I hope it does, but afraid to bet very much on the likelihood.  Wait and see.

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