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Veteran Contributor

Floor Talk July 12 (Report Day)

At 11:17am:

 

USDA SAYS:

 

In summary, yields were left unchanged and corn ending stocks were lowered for both the U.S. and world. See the full report at

 

USDA Drops Corn Ending Stocks, Markets Go Higher

 

Thanks folks,

 

Mike

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At the close:

At the close, the September corn futures finished 5 3/4¢ higher at $3.45 3/4. December futures finished 6¢ higher at $3.59 1/4.

 

August soybean futures ended 3/4¢ higher at $8.33 3/4.  November soybean futures finished 1¢ higher at $8.49 1/4.

 

September wheat futures settled 12 3/4¢ higher at $4.84 1/2.

August soymeal futures ended $0.40 per short ton higher at $330.90. August soy oil futures finished 0.16¢ lower at 28.27.

In the outside markets, the NYMEX crude oil market is $0.14 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 200 points higher.

 

Mike

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At mid-session:

At mid-session, the September corn futures are 6 3/4¢ higher at $3.46. December futures are 7¢ higher at $3.60.

 

August soybean futures are 1¢ lower at $8.32.  November soybean futures are 3/4¢ lower at $8.47.

 

September wheat futures are 12¢ higher at $4.83.

August soymeal futures are $0.90 per short ton lower at $329.60. August soy oil futures 0.09¢ lower at 28.34.

In the outside markets, the NYMEX crude oil market is $0.92 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 213 points higher.

 

Mike

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At 9:00am:

In early trading, the September corn futures are 1/2¢ higher at $3.40. December futures are 1/4¢ higher at $3.53.

 

August soybean futures are 1 3/4¢ higher at $8.34.  November soybean futures are 2 1/4¢ higher at $8.50.

 

September wheat futures are 2 3/4¢ higher at $4.74.

August soymeal futures are $1.00 per short ton higher at $331.50. August soy oil futures 0.05¢ lower at 28.38.

In the outside markets, the NYMEX crude oil market is $0.14 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 164 points higher.

 

Mike

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Soybeans and corn turned higher overnight as bargain hunters come seeking supplies after the big price drop yesterday. Soybeans were up 3 cents, corn rose 2 cents and wheat was up 2-3 cents overnight. Prices yesterday plunged with soybeans and wheat both dropping more than 20 cents and corn losing almost 8 cents after the US threatened to tack on another $200 billion worth of tariffs on Chinese goods. In other news, the Environmental Protection Agency has apparently scrapped a plan to increase blending requirements to compensate for the increase in the number of hardship waivers its offering to refiners. Reuters reported the plan to increase ethanol blended into fuel was nixed amid complaints from refiners. WASDE and export sales reports are on deck today, as well. In weather news, the heat wave in the central US has now moved into parts of Arkansas and Oklahoma, where temperatures are expected to be near 109 degrees. Get all the details in today's 3 Big Things

 

West Texas Intermediate = up 1%.

Brent Crude = up 1.3%

Dollar = up 0.1%.

Wall Street = U.S. stock higher pre-market.

World Markets = Global stocks higher overnight.

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Honored Advisor

Grant Wood in real time

Had to finally go to the fsa office and certify acres.

 

the great thing about that 40 mile drive each way was the scenery, from Creston, Iowa to Corning Iowa is just spectacular right now. Hwy 34 all across Iowa has it all.

 

Absolutely blow your doors off kind of crop in the offing with weather cooperation.

 

Saw a  couple semis by grain bins under augers. From cow pastures to level fields, lots of rolling ground with a patchwork of crops. 

 

The stretch from about 10 miles east of Corning westbound on the south side is the things A modern day Grant Woods could have a field day with. About a mile east of town the north, northwest view is another iconic modern view.

 

Thermometer north side of house in the shade is reading 99.9F right now.

 

Hope a nice rain shows up in next couple of days.

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Veteran Advisor

Re: Grant Wood in real time

Hobby - looks like you have a good chance of getting that rain.

We're just over an inch since yesterday with a little more on the way.

Sure feels better outside this morning.

 

Went to Dunnell for a funeral Wednesday and traveled a short distance on I90 west of Fairmont.

Surprised there weren't 3 lanes now - something watered that much should have grown!!Smiley Wink

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Senior Contributor

Re: Grant Wood in real time

Always a beautiful time of the year when the crops have good moisture.  A modern day Grant Woods no doubt would include a YELLOW Snoopy against  the green back ground.  They sure where flying around here yesterday.  Some are spending money to try to "bushel" their way out this Fall.  Yes, ready for more rain.

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Honored Advisor

Re: Grant Wood in real time

BuyThe "modern" part of those scenes of the hills and swales are all the monster three bladed windmills. Including  the tallest one in Iowa. Just an extra 100 feet into the sky. A little hard to pick it out as it is in the back. 

 

Fifty two more going up just south of I 80 around the 90 mile marker.

 

Have only seen a couple of air tractors this summer, I think they were just moving/ changing locations..

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