Floor Talk July 25
At the close:
At the close, the September corn futures finished 7 1/4¢ higher at $3.59 1/4. December futures closed 7 1/4¢ higher at $3.73 3/4.
August soybean futures finished 2 3/4¢ higher at $8.60 3/4. November soybean futures finished 2 1/2¢ higher at $8.75 3/4.
September wheat futures ended 32 1/2¢ higher at $5.42 3/4.
August soymeal futures closed $1.10 per short ton higher at $330.00. August soy oil futures settled 0.17¢ higher at 28.41.
In the outside markets, the NYMEX crude oil market is $0.72 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 20 points higher.
At mid-session, the September corn futures are 5 3/4¢ higher at $3.57 3/4. December futures are 5 3/4¢ higher at $3.71 3/4.
August soybean futures are 1/4¢ lower at $8.57. November soybean futures are 1/4¢ lower at $8.72.
September wheat futures are 28¢ higher at $5.38.
August soymeal futures are $0.30 per short ton lower at $328.60. August soy oil futures 0.07¢ higher at 28.31.
In the outside markets, the NYMEX crude oil market is $1.01 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 44 points lower.
Jason Roose, U.S. Commodities, says that the grain markets are finding solid support today.
“As the world turns its focus away from the potential large US grains crops to the reduction in European and Ukraine crops lead by the wheat, which could potentially lead to stronger exports, the markets are going higher.
In early trading, the September corn futures are 7¢ higher at $3.59. December futures are 7¢ higher at $3.73.
August soybean futures are unchanged at $8.58. November soybean futures are 1/4¢ lower at $8.73.
September wheat futures are 24¢ higher at $5.34.
August soymeal futures are $0.20 per short ton lower at $328.70. August soy oil futures 0.12¢ higher at 28.36.
In the outside markets, the NYMEX crude oil market is $0.13 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 90 points lower.
Wheat was up double digits this morning on concerns about crops in the European Union, Russia and even the US to a smaller extent. Futures jumped 11-12 cents in overnight trading on the Chicago Board of Trade, corn gained about 3 cents while beans were down about 3 cents. Producer groups reacted to the USDA announcement that it would offer $12 billion to help offset losses from the ongoing trade spat between the US and China, and other countries, with appreciation. Still, the American Soybean Association said in a statement it hopes for a long-term trade solution from the Trump Administration. In weather news, thunderstorms are developing in eastern Nebraska and western Iowa, and in much of northern Illinois this morning, with some possibly severe, the National Weather Service said. Check out today's 3 Big Things for all the details.
West Texas Intermediate = up 0.1%.
Brent Crude = up 0.7%
Dollar = down 0.2%.
Wall Street = U.S. stock lower pre-market.
World Markets = Global stocks mixed overnight.
Re: Floor Talk July 25
The EU agreeing to buy U.S. soybeans is huge news. Let's have a trader comment on that.
The question is.......Is the door big enough to let all the bears out?