cancel
Showing results for 
Search instead for 
Did you mean: 
Veteran Advisor

Floor Talk, July 26, 2019

At the close:

At the close, the Sep. corn futures finished 4¢ lower at $4.14 1/4. Dec. corn futures closed 3¢ lower at $4.24 1/2.

Aug. soybean futures closed 3/4¢ higher at $8.83. November soybean futures ended 1 1/4¢ higher at $9.01.

Sep. wheat futures settled 3 1/4¢ lower at $4.96.



December soymeal futures finished $0.10 per short ton lower at $309.70.

 December soy oil futures closed $0.23 higher at 29.02¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.06 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 13 points higher.

 

Mike

-----------

At midsession:

At midsession, the Sep. corn futures are 3 1/4¢ lower at $4.15 1/4. Dec. corn futures are 2 1/4¢ lower at $4.25.

Aug. soybean futures are 4 3/4¢ higher at $8.87 1/4. November soybean futures are 4 1/2¢ higher at $9.04 3/4.

Sep. wheat futures are 4 1/4¢ lower at $4.95 1/2.



December soymeal futures are $1.30 per short ton higher at $311.10.

 December soy oil futures are $0.16 higher at 28.95¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.27 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 33 points higher.

Jason Roose, U.S. Commodities, says that the markets face bearish factors.

“With non-threatening weather and poor exports, corn and soybeans continue to lose value. There is minor support in the soybean trade, today, as we trade both sides of unchanged with continued U.S./China trade talks,” Roose says.

 

 

At 8:40am:

In early trading, the Sep. corn futures are 2 1/4¢ lower at $4.16 1/4. Dec. corn futures are 2 1/4¢ lower at $4.25.

Aug. soybean futures are 1¢ higher at $8.83 1/4. November soybean futures are 1¢ lower at $9.00 3/4.

Sep. wheat futures are 4 3/4¢ lower at $4.95 1/2.



December soymeal futures are $0.20 per short ton higher at $310.00.

 December soy oil futures are $0.02 lower at 28.77¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.23 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 67 points higher.

Al Kluis, Kluis Advisors, says that the markets will undergo a sideways trading pattern.

“Corn exports were dismal and soybeans had a net cancellation. Wheat was the highlight, but with two of the three grains being poor, wheat struggled as well. Weather is a non-event now in the marketplace, and there is still no word on when trade talks will resume with China. As a result, the path of least resistance is sideways to lower,” Kluis told customers in a daily note.

Kluis added, “The recent downward pressure on the grain prices is due to more commercial selling. They are cleaning out bins to get ready for the 2019 crop. Farm selling has been next to zero in both old crop and new crop.”

 

Mike

0 Kudos
2 Replies
Honored Advisor

Re: Floor Talk, July 26, 2019

So.........have there been more acres of corn planted in the last couple of weeks and is the existing corn really worth 30-40 cents less than it was a few weeks ago?   

It's obvious that food prices are much too high for the amount of complacency in the market place.

Advisor

Hogan's Heroes

Is what some of these futures markets commentators reminds 1 of.  MO

0 Kudos