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Tony_Dreibus
Veteran Contributor

Floor Talk July 26

At the close:

 

At the close, the Sep. corn futures settled 2 1/4¢ lower at $3.32 1/2, Dec. futures finished 1 3/4¢ lower at $3.39 1/2 per bushel. August soybean futures closed 9 3/4¢ higher at $9.93 1/2, while Nov. soybean futures ended 7 1/2¢ higher at $9.73 3/4. Sept. wheat futures finished 14¢ lower at $4.15. August soymeal futures are $2.50 short ton higher at $341.40. August soyoil futures closed $0.10 higher at 29.56¢ per pound.  In the outside markets, the Brent crude oil market is $0.29 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 51 points lower.

 

Mike

 

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At mid-session:

 

At mid-session, the Sep. corn futures are 1/2¢ lower at $3.35, Dec. futures are 1 1/4¢ higher at $3.42 per bushel. August soybean futures are 16 1/4¢ higher at $10.00, while Nov. soybean futures are 13 1/2¢ higher at $9.79. Sept. wheat futures are 9 3/4¢ lower at $4.19. August soymeal futures are $5.70 short ton higher at $344.60. August soyoil futures are $0.20 higher at 29.81¢ per pound.  In the outside markets, the Brent crude oil market is $0.25 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 49 points lower.

 

Mike

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At the open:

 

At the open, the Sep. corn futures are 1 3/4¢ lower at $3.33, Dec. futures are 1 1/2¢ lower at $3.39 per bushel. August soybean futures are 8 1/4¢ higher at $9.92, while Nov. soybean futures are 6¢ higher at $9.72. Sept. wheat futures are 5 3/4¢ lower at $4.23. August soymeal futures are $2.10 short ton higher at $341.00. August soyoil futures are $0.35 higher at $29.81.  In the outside markets, the Brent crude oil market is $0.22 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 7 points higher.

 

Mike

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Soybeans rose overnight after falling to a three-month low as some investors likely thought it was time for a bargain. Corn was little changed and wheat was slightly lower. It wasn't a shocking sight to see corn and bean conditions unchanged from the prior week at 71% and 76% good or excellent, respectively, even with the hot weather we had through Sunday thanks to the rain in Iowa and Illinois. Still, topsoil and subsoil moisture were both down week-over-week.

 

Here's what happened overnight:

 

Brent Crude Oil = 0.7% lower.
West Texas Intermediate Crude Oil = 1% lower.

Dollar = down 0.2%.

Wall Street = U.S. stock futures mixed in overnight trading.
World Markets = Global stocks mixed ahead of central bank meetings. 

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2 Replies
marketeye
Veteran Advisor

Re: Floor Talk July 26

 Chart Credit: Ag Economist for Ohio Farm Bureau

 

The USDA data on corn sales is highlighted in the above chart. Proving that U.S. corn is the cheapest in the world. I thought this was interesting.

But, also, Monday, record soybean export inspections were recorded at 25 million bushels.

 

What say you?

 

Mike

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roarintiger1
Honored Advisor

Re: Floor Talk July 26

"Time for a bargain"   is an understatement.  

 

Endusers are making money hand over fist.   

 

BTW, everyone is seeing food prices come down.....right?  Smiley Wink

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