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Tony_Dreibus
Veteran Contributor

Floor Talk July 20

Grains and soybeans were higher overnight amid a strong export sales report and extremely hot weather in the southern US. Corn gained about 3 cents, beans were up more than 6 cents and wheat was up 4-6 cents. Sales for corn, beans and wheat were all up week-to-week, a good sign for exporters. In weather news, it's going to be a scorcher down south with temperatures in Oklahoma and Arkansas reaching 108 degrees with heat indexes of around 115 degrees. Needless to say, outdoor work is ill-advised and those who do venture out need to take long breaks in the shade. Check out today's 3 Big Things for all the details. 

  

West Texas Intermediate = up 0.6%.

Brent Crude = up 0.2%

Dollar = down 0.2%.

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

World Markets = Global stocks mixed overnight.

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3 Replies
wrightcattle
Veteran Advisor

Re: Looks like the bottoms are in

on most the agri products markets now..

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elcheapo
Veteran Advisor

Re: Looks like the bottoms are in

Sorry, but I think lower commodity prices are on their way down further.

 

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wrightcattle
Veteran Advisor

Re: The market is trading a 178 to 184

Avg corn yield.

say 180 to 183 here....sooo it's 182.

 

market is waaaay oversold.

 

put the afore yield to use to carry in on all previous scenarios and corn is just bout $4.50.

sooo that's where it's going too.

ie higher use higher yields etc.

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