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Veteran Contributor

Floor Talk July 25

At the close:

At the close, the Sept. corn futures ended 8 1/2¢ lower at $3.68 3/4, while December futures finished 8 1/2¢ lower at $3.82 1/4. Aug. soybean futures settled 16¢ lower at $9.81 1/2, November soybean futures closed 17 1/4¢ lower at $9.92 3/4. September wheat futures closed 14 3/4¢ lower at $4.74. Dec. soy meal futures closed $7.80 per short ton lower at $324.90. Dec. soy oil futures finished $0.08 lower at 33.97¢ per pound.  In the outside markets, the Brent crude oil market is $1.58 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 118 points higher, while the S&P has hit a record-high at 2,477 points.

 

Jason Roose, U.S. Commodities analyst, says that the hard down move todsy, in the grain markets, was a result of volatility.

"The volatile market continues in the grain market, with discounting of the lower crop ratings and investors focusing on the overall supply of grain in the world and the seasonal drop in exports."

 

Mike

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At mid-session:

At mid-session, the Sept. corn futures are 5 1/4¢ lower at $3.72, while December futures are 5 1/4¢ lower at $3.85. Aug. soybean futures are 3 3/4¢ lower at $9.93, November soybean futures are 4 1/4¢ lower at $10.05. September wheat futures are 7 3/4¢ lower at $4.81. Dec. soy meal futures are $3.60 per short ton lower at $322.30. Dec. soy oil futures are $0.26 higher at 34.31¢ per pound.  In the outside markets, the Brent crude oil market is $1.38 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 125 points higher, while the S&P has hit a record-high at 2,477 points.

 

Mike

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At 9am:

In early trading, the Sept. corn futures are 5 1/4¢ lower at $3.71, while December futures are 5 1/4¢ lower at $3.85. Aug. soybean futures are 3¢ higher at $10.00, November soybean futures are 2 1/2¢ higher at $10.12. September wheat futures are 6¢ lower at $4.82. Dec. soy meal futures are $0.20 per short ton lower at $332.50. Dec. soy oil futures are $0.21 higher at 33.82¢ per pound.  In the outside markets, the Brent crude oil market is $0.92 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 96 points higher, while the S&P has hit a record-high at 2,477 points.

 

 

Mike

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Corn and wheat were lower overnight while beans were higher as bears look at the cooler weather this week and bulls soak in the decline in crop ratings. Corn lost 4 cents, wheat was down 3-4 cents and soybeans gained almost 7 cents. Temperatures are going to be lower as it should be said that it's going to be less-hot in some areas. Still, they'll be in the 90s in some areas and a new round of heat advisories stretching from Omaha to Dallas are in effect, though they're in a very narrow band. The rest of the Midwest, where heat indexes were well into the 100s last week, is expected to see temperatures in the 80s.

 

A storm is forming over South Dakota as well, which is expected to move south into Nebraska and provide relief. On the bull side, traders are looking at the crop progress report out yesterday. Corn ratings fell 2 points from good or excellent the prior week, soybeans were down 4 points and wheat lost 1 point, all due to the hot, dry weather. Check out all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-july-25.

 

Here's what happened overnight:

 

Brent Crude Oil = up 1.5%

West Texas Intermediate = up 1.6%

Dollar = down 0.1%.

Wall Street = U.S. stock futures higher in pre-market trading.

World Markets = Global stocks rise along with oil futures. 

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Veteran Advisor

Re: Floor Talk July 25

yep....crop ratings have dropped, heat and dry continues, less than ideal conditions in much of rural America...

yet, they just shrug it off.....

 

why do we even publish the board stuff anymore....the board is no longer the board anymore, it's a play thing.

 

 

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Advisor

Re: Floor Talk July 25

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