Floor Talk July 1
At the close:
The Sept. futures corn contract closed 15 cents lower at $5.31. New-crop Dec. corn futures ended 10 cents lower at $5.01. The Aug. soybean futures contract settled 5 cents higher at $14.36, while the new-crop Nov. soybeans closed 8 cents lower at $12.43. Sept. wheat futures ended 3 cents lower at $6.55 per bushel. The Aug. soymeal futures closed$2.00 short ton lower at $432.90. The Aug. soyoil futures finished $0.53 higher at $46.82. In the outside markets, the NYMEX crude oil is $1.05per barrel higher, the dollar is lower and the Dow Jones Industrials are 101 points higher.
One analyst says that corn acts as if the market has been priced out already, and maybe beans got priced today, too. "Cash markets are still pretty strong, but in corn anyway the price was falling below futures and I think 16.00 pretty much covered the beans. New crop months under pressure from better weather, a little cool but still pretty good for development. Farmers should be looking t selling! A light volume day for me here today, specs tried to buy it last night and tht was not a good idea, today they did not do too much and my farm clients were quiet as were my buy side guys."
The Sept. futures corn contract is trading 8 cents lower at $5.39. New-crop Dec. corn futures are trading 8 cents lower at $5.03. The Aug. soybean futures contract is trading 4 cents higher at $14.35 new-crop Nov. soybeans are trading 10 cents lower at $12.41. Sept. wheat futures are trading 3 cents lower at $6.54 per bushel. The Aug. soymeal futures are trading $0.20 short ton higher at $435.10. The Aug. soyoil futures are trading $0.34 higher at $46.63.
In the outside markets, the NYMEX crude oil is $0.81 per barrel higher, the dollar is lower and the Dow Jones Industrials are 145 points higher.
The Sept. futures corn contract is trading 6 cents lower at $5.40. New-crop Dec. corn futures are trading 7cents lower at $5.04. The Aug. soybean futures contract is trading 7 cents higher at $14.38., new-crop Nov. soybeans are trading 6 cents lower at $12.45. Sept. wheat futures are trading 4 cents lower at $6.53 per bushel.
At the open:
The Sept. futures corn contract opened 3 cents lower at $5.44. New-crop Dec. corn futures opened 5 cents lower at $5.06. The Aug. soybean futures contract opened 21 cents higher at $14.52., new-crop Nov. soybeans opened 3 cents higher at $12.55. Sept. wheat futures started 4 cents lower at $6.63 per bushel. The Aug. soymeal futures opened $6.70 short ton higher at $441.60. The Aug. soyoil futures opened $0.27 higher at $46.56.
In the outside markets, the NYMEX crude oil is $1.00 per barrel higher, the dollar is lower and the Dow Jones Industrials are 104 points higher.
Jeff Coleman, The Trean Group analyst and CME Group floor trader says it's a mixed trading day.
"The big three grain markets are seeing mixed trade as front month (July) soybeans are up 33 cents on low volume and the rest of the grain markets steady to lower on the overnight session. First notice day has passed and volume in July corn and soybeans is very low, as there are no limits in those months. July corn futures are unchanged and December corn futures are down 4 cents on heavy volume, as the current good weather conditions throughout the Midwest are ideal for farmers. July soybean futures are up 33 cents on almost no volume and November soybean futures are up a nickel as we head into the close of the overnight session. July and December wheat futures are both slightly higher as the wheat crop seems to be set for the year. Considering this is a shortened trading week, activity in the grain markets should be minimal."
Early calls: Corn is seen 1-2 cents lower (old-crop), soybeans 16-18 cents higher (old-crop), and wheat 1-2 cents higher. Meanwhile, new-crop corn 3-5 cents lower and soybeans are seen 4-6 cents higher.
Overnight grain, soybean markets=Trading mixed.
Crude Oil=$0.55 per barrel higher.
Wall Street=Seen higher.
World=Asia/Pacific stocks were mixed and Europe's stocks are higher.
It's July. Do you have all of your crops planted (re-planted) and out of the ground?
More in a minute,
Re: Floor Talk July 1
"It's July. Do you have all of your crops planted (re-planted) and out of the ground?"
Yes I replanted beans in the same area for the third time and they are not out yet. Put the planter away for the year several days ago.
The next farm south now has 6 leaf corn in crooked little rows
The next farmer north has 3 leaf corn ...still has 3 days to get to knee high...might make it.
Going to need a rain within a week
Re: Floor Talk July 1
The two on either side are BTO's that aren't getting the job done this year.
In the grand scheme of things they are the exception. In both cases their reach has exceded their grasp.
They are the exception and not the rule around here.