Floor Talk January 5
At mid-session, the March corn futures are 1/4¢ lower at $3.50. May futures are 1/4¢ lower at $3.59. Jan. soybean futures are 3 1/2¢ higher at $9.71. March soybean futures are 3 1/2¢ higher at $9.82. March wheat futures are 5¢ lower at $4.29. March soy meal futures are $1.40 per short ton higher at $321.20. January soy oil futures are 0.04 lower at 33.83¢ per pound. In the outside markets, the NYMEX crude oil market is $0.60 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 94 points higher.
If you missed it, the USDA released its Weekly Export Sales Report Friday. All sales were way off.
Corn= 101,200 metric tons.
Soybeans= 560,800 mt.
Wheat= 131,000 mt.
Soymeal= 117,900 mt.
In early trading:
At 9:13am, the March corn futures are 1/2¢ lower at $3.50. May futures are 3/4¢ lower at $3.58. Jan. soybean futures are 4 3/4¢ higher at $9.72. March soybean futures are 4 3/4¢ lower at $9.83. March wheat futures are 5 1/4¢ lower at $4.28. March soy meal futures are $2.50 per short ton higher at $322.30. January soy oil futures are 0.08 lower at 33.79¢ per pound. In the outside markets, the NYMEX crude oil market is $0.40 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 67 points higher.
Soybean futures rose overnight on forecasts for dry weather in Argentina for at least another week. Rain shows up in the six- to 10-day forecast but dry weather will prevail, causing issues in some parts of the South American country. Beans gained about 7 cents, while corn rose a penny and wheat was trading on either side of unchanged. Ethanol production in the week that ended on Dec. 29 fell from its lofty levels in most of December, but that can be attributed to the Christmas holiday. In weather news, the storm slamming the East Coast will continue through parts of Friday but then move out. Still, it's going to be bitterly cold in the eastern third of the country through the weekend, the National Weather Service said. Check out all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-january-5.
Brent Crude Oil = down 0.9%.
West Texas Intermediate = down 0.9%.
Dollar = up 0.2%.
Wall Street = U.S. stock futures higher in pre-bell trading.
World Markets = Global stocks higher overnight.