Floor Talk July 2
Reminder: The USDA will release its July Supply-Demand Report on Friday 7/11/14 at 11 am.
At the close:
Dec. corn 4 3/4 cents lower at $4.18
Nov soybeans 6 cents lower at $11.41
Sep. wheat 3 cents higher at $5.75.
The Dec. corn futures are trading 4 3/4 cents lower at $4.18.
Nov. soybean futures are trading 7 cents lower at $11.40.
Sep. wheat futures are 1/4 of a cent higher at $5.72.
The Dec. soymeal futures contract is trading $0.20 per short ton lower at $361.90. The Dec. soyoil futures are trading $0.41 lower at $38.82.
In the outside markets, the NYMEX Brent crude oil is $0.71 per barrel lower, the dollar is higher and the Dow Jones Industrials are 11 points higher.
At the open:
The Dec. corn futures are trading 4 1/2 cents lower at $4.18.
Nov. soybean futures are trading 6 1/2 cents lower at $11.41.
Sep. wheat futures are 2 1/4 cents lower at $5.70.
The Dec. soymeal futures contract is trading $0.70 per short ton lower at $361.40. The Dec. soyoil futures are trading $0.34 lower at $38.89.
In the outside markets, the NYMEX Brent crude oil is $0.65 per barrel lower, the dollar is higher and the Dow Jones Industrials are 12 points higher.
Early calls: Corn is seen 2-4 cents lower, soybeans 1-2 cents lower, and wheat 1-2 cents lower.
Overnight grain, soybean markets=Trading lower.
Brent Crude Oil=$0.42 per barrel lower.
Wall Street=Seen higher, as investors digest better June jobs numbers at 281,000 vs. 210,000 expected. Fed Chairman Yellen makes remarks today, as well.
World Markets=Europe stocks were higher, Asia/Pacific stocks were higher.
More in a minute,
Re: Floor Talk July 2
Hi Mike, Do you happen to know what the bean price was last time we had 500 mil. carry out?
I would assume we have a long way to go to get to that price.
Re: Floor Talk July 2
Reno31, in 2006 the average U.S. cash price was $6.53 a bushel on soybeans with ending stocks of 565 million bushel or a 66.7 day ending supply based on 3.1 million bushel of demand.
If the 2014/2015 U.S. carryout rises to 500 mb and use stays at USDA's current 3.450 billion that would equate to an ending days of supply figure of 52.9 or at 80% of 2006's 66.7 days.
Hope this is what you were looking for.