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Veteran Advisor

Floor Talk July 20

At the close:

At the close, the Sept. corn futures settled 15 1/4 cents lower at $4.05, Dec corn futures closed 15 3/4 cents lower at  $4.16. 

Aug. soybean futures finished 7 cents lower at $10.07. Nov. soybean futures closed 7 1/4 cents lower at $9.99.

Sept. wheat futures closed 21 1/4 cents lower at $5.32 3/4.

Aug. soymeal futures finished $5.10 per short ton lower at $356.00. Aug. soyoil futures ended $0.10 lower at $31.68. 

In the outside markets, the Brent Crude oil market is $0.59 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 32 points higher.

Mike

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At mid-session:

At mid-session, the Sept. corn futures are trading 7 3/4 cents lower at $4.12 1/2, Dec corn futures are 7 3/4 cents lower at  $4.23. 

Aug. soybean futures are trading 5 cents lower at $10.09. Nov. soybean futures are trading 5 1/2 cents lower at $10.01.

Sept. wheat futures are 14 1/4 cents lower at $5.39.

Aug. soymeal futures are trading $3.80 per short ton lower at $357.30. Aug. soyoil futures are trading $0.13 lower at $31.65. 

In the outside markets, the Brent Crude oil market is $0.51 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 30 points higher.

Jack Scoville, The PRICE Futures Group senior market analyst, says that the markets are sharply lower on what are being considered better weather forecasts.
“The weather is seen as not completely dry, but much more sun in general and no real extreme heat.  This afternoon’s USDA Crop conditions should be about unchanged this week and might improve next week,” Scoville says. 
He adds, “There are a lot of spec and fund-type selling.  The markets tried to rebound with stronger-than-expected export inspections but can’t seem to hold. So, the market wants to be bearish, I think.  Wheat is still too high priced in world markets. And, the somewhat drier weather, here, allowing for more harvest to get done is bearish.”

Mike

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At the open:

At the open, the Sept. corn futures are trading 8 cents lower at $4.12, Dec corn futures are 8 cents lower at  $4.23. 

Aug. soybean futures are trading 12 cents lower at $10.02. Nov. soybean futures are trading 13 cents lower at $9.93.

Sept. wheat futures are 9 cents lower at $5.44.

Aug. soymeal futures are trading $4.70 per short ton lower at $356.40. Aug. soyoil futures are trading $0.06 lower at $31.72. 

In the outside markets, the Brent Crude oil market is $0.36 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 10 points higher.

Mike

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At 7:45am:

 

Early calls: Corn 4-6 cents lower, soybeans 11-12 cents lower, and wheat 8-10 cents lower.

 

Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.33 lower.
Dollar =Lower.  
Wall Street = Seen higher, with earnings, gold and Greece.

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

 

 

 

More in a minute,

 

Mike

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