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Veteran Advisor

Floor Talk July 2

NOTE: The ag futures markets will trade only until 12-Noon Thursday. The markets are closed Friday, July 4th. They will reopen on Sunday night.




At the open:

At the open, the Sept. corn futures are trading 1/2 of a cent higher at $4.23 per bushel. The Dec corn futures are 1/2 of a cent higher at $4.32 per bushel. 

Aug. soybean futures are trading 5 cents lower at $10.35. Nov. soybean futures are trading 3 1/2 cents lower at $10.26.

Sept. wheat futures are 7 cents lower at $5.81.

Aug. soymeal futures are trading $1.30 per short ton lower at $350.90. Aug. soyoil futures are trading $0.19 higher at $33.32.  

In the outside markets, the Brent Crude oil market is $0.65 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 53 points higher.



At 7:35am:

USDA Weekly Export Sales Thursday showed that wheat sales were within expectations, corn on the high end, and soybeans below expectations.


Wheat= 363,900 metric tons vs. the trade's expectations of 250,000-450,000 metric tons.

Corn= 833,200 mt vs. the trade's expectations of between 450,000-950,000 mt.

Soybeans=137,800  mt. vs. the trade's expectations of  150,000-500,000 mt.

Soybean meal =  263,700 mt vs. the trade's expectations of 100,000-300,000  metric tons.



At 6:45am:


Early calls: Corn 2-4 cents higher, soybeans 2-4 cents higher, and wheat 2-4 cents lower.


Overnight grain, soybean markets = Trading mostly higher.
Brent Crude Oil = $0.55 higher.
Dollar =Lower.  
Wall Street = Seen higher, with U.S. jobs data in focus.

World Markets = Europe stocks were slightly higher, Asia/Pacific stocks were higher.




More in a minute,



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1 Reply
too close for comfort
Senior Contributor

Re: Floor Talk July 2

Hi Mike, after the last couple of days you looked kind of lonely with the only post. Thanks for all the reporting (yes you are just the messenger) and thank you to those that wrote our declaration of independance. Without them all of the gov. bashing that goes on here might not be possible. Be safe and have a great weekend.