Floor Talk July 17
At the close:
At the close, the September corn futures finished 4 1/2¢ higher at $3.46 1/4. December futures settled 4 1/2¢ higher at $3.59 3/4.
August soybean futures closed 10¢ higher at $8.39 1/2. November soybean futures ended 9 1/2¢ higher at $8.55 1/4.
September wheat futures closed 9 1/4¢ higher at $4.97 3/4.
August soymeal futures settled unchanged at $329.10. August soy oil futures settled 0.09¢ higher at 27.73.
In the outside markets, the NYMEX crude oil market is $0.07 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 55 points higher.
At mid-session, the September corn futures are 6¢ higher at $3.47. December futures are 6 1/4¢ higher at $3.61.
August soybean futures are 10 3/4¢ higher at $8.40. November soybean futures are 10 1/2¢ higher at $8.56.
September wheat futures are 13¢ higher at $5.01.
August soymeal futures are unchanged at $329.10. August soy oil futures 0.15¢ higher at 27.79.
In the outside markets, the NYMEX crude oil market is $0.63 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 27 points higher.
Jack Scoville, The PRICE Futures Group’s senior market analyst, says that investors are buying back positions.
“It looks like some good sized short-covering coming into the pit,” Scoville says.
The trade got worse-than-expected condition ratings last night, especially corn, and that seems to be the big point in the market today, Scoville says.
“The weather has been less than perfect so an uneven crop is appearing. Trade problems have taken a back seat to the weather for now, and why not. We have dropped a whole lot in the last month to 6 weeks because of Trump and his tariffs. The tariffs will limit upside, but these prices should start to attract new demand,” Scoville says.
In early trading, the September corn futures are 5 1/4¢ higher at $3.47. December futures are 5¢ higher at $3.60.
August soybean futures are 8 1/2¢ higher at $8.38. November soybean futures are 8 1/4¢ higher at $8.54.
September wheat futures are 10 1/2¢ higher at $4.99.
August soymeal futures are $1.40 per short ton higher at $330.50. August soy oil futures 0.14¢ higher at 27.78.
In the outside markets, the NYMEX crude oil market is $0.84 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 27 points lower.
Soybeans and corn were higher overnight after the USDA lowered its ratings on both crops. Soybeans were 69% good or excellent, down from 71% a week earlier, and 72% of the corn crop earned top ratings versus 75% last week, the government said. Export inspections, meanwhile, were lower for both corn and beans week-to-week. In weather news, it's going to be another scorcher in eastern Oklahoma as heat indexes are expected to reach 109 degrees Fahrenheit for a second straight day. Get all the details in today's 3 Big Things.
West Texas Intermediate = down 0.1%.
Brent Crude = up 0.1%
Dollar = up 0.1%.
Wall Street = U.S. stock lower pre-market.
World Markets = Global stocks lower overnight.
Re: Nice thing bout trumps tariffs is
That it brokers most foodstuffs traded globally at say a 25% up for the benefit of USA govt cash.
Finally foodstuffs are basically a weapon.