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marketeye
Veteran Advisor

Floor Talk January 5, 2021

At the close:

At the close, the March corn futures finished 8¢ higher at $4.91 3/4. May corn futures ended 8 1/4¢ higher at $4.92 3/4.

March soybean futures closed 34¢ higher at $13.47 1/2. May soybean futures closed 35¢ higher at $13.46 1/2.

March wheat futures finished 12¢ higher at $6.54 1/4.

March soymeal futures closed $8.10 short term higher at $431.80.


March soy oil futures closed 1.47 of a cent higher at 43.60¢ per pound.



In the outside markets, the NYMEX crude oil market is $2.29 per barrel higher (+4.81%) at $49.91. The U.S. dollar is lower, and the Dow Jones Industrials are 259 points higher (+0.82%) 30,473 points.

Mike

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At midsession:

At midsession, the March corn futures are 10 1/4¢ higher at $4.94. May corn futures are 10 1/2¢ higher at $4.94 3/4.

March soybean futures are 48 3/4¢ higher at $13.61 1/2. May soybean futures are 49 1/2¢ higher at $13.60 1/2.

March wheat futures are 20 1/4¢ higher at $6.62 1/4.

March soymeal futures are $11.70 short term higher at $435.40.


March soy oil futures are 1.71 of a cent higher at 43.84¢ per pound.



In the outside markets, the NYMEX crude oil market is $2.31 per barrel higher (+4.85%) at $49.93. The U.S. dollar is lower, and the Dow Jones Industrials are 131 points higher (+0.40%) 30,350 points.

 

Mike

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At 8:45am:

 

Another double-digits gain for the soybean market Tuesday.

 

Mike

 

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9 Replies
Hobbyfarmer
Honored Advisor

Re: Floor Talk January 5, 2021

The opening markets make me feel like this...

 

https://www.youtube.com/watch?v=fn3KWM1kuAw

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erikjohnson61y
Advisor

Re: Floor Talk January 5, 2021

"Double digit" isn't the half of it. March beans up 48 1/2 as I write, according to Bloomberg.

Going Ballistic is more like it...  Where is the ceiling?  Will $18 start rationing demand??  Let's not get greedy and just hope we don't get into demand destruction again...

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roarintiger1
Honored Advisor

Re: Floor Talk January 5, 2021

Holy grain price rally Batman! 

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crophugger
Senior Contributor

Re: Floor Talk January 5, 2021

So marketeye what are you hearing on the news wire today what about SA weather 

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Hobbyfarmer
Honored Advisor

Re: Floor Talk January 5, 2021

 http://www.soybeansandcorn.com/news/Jan5_21-A-Few-Early-Soybeans-Harvested-in-Mato-Grosso-Last-Week

 

when this story hit the news wire beans went to 57+ up

Settling down some now.

This story hit about the same time too. Can't load without inspections.

http://www.soybeansandcorn.com/news/Jan5_21-It-Will-Take-Weeks-to-Recover-after-Port-Strikes-in-Arge...

 

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rickgthf
Senior Advisor

Re: $4.94 is awfully close to $5

$13.60 is getting close to $14.

New crop beans are finally beginning to move,  That 90 M acres of beans doesn't look so intimidating anymore.

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rickgthf
Senior Advisor

Re: Last week's rain

last week's rain

last week's rain.gif
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rickgthf
Senior Advisor

Re: Next week's rain

Next weeks rain

next week's rain.gif
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crophugger
Senior Contributor

Re: Next week's rain

I would say the last 2 Monday have been a classic bear trap in a bull market stole a few more bushel 

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