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marketeye
Veteran Advisor

Floor Talk, July 27, 2021

At the close:

At the close, the Sept. corn futures close 1¢ lower at $5.48 3/4. New crop Dec. futures finished 1/2¢ lower at $5.46. March corn futures closed 3/4¢ lower at $5.53 1/2.

August soybean futures finished 5 1/2¢ higher at $14.18 3/4.

Sept. soybean futures settled 4 1/2¢ higher at $13.67 1/4. New crop November soybean futures ended 1 3/4¢ higher at $13.59 1/4.

Sept. wheat futures closed 2 1/2¢ lower at $6.74 1/4.


Sept. soymeal futures closed $5.40 per short ton higher at $358.20.


Sep. soy oil futures finished $0.78 lower at 64.39¢ per pound.

In the outside markets, the NYMEX crude oil market is 0.12 lower (-0.17%) at $71.79. The U.S. dollar is lower, and the Dow Jones Industrials are 168 points lower (-0.48%) at 34,975 points.

 

WHAT SAY YOU?

 

Mike

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At midsession:

At midsession, the Sept. corn futures are 1¢ lower at $5.48 3/4. New crop Dec. futures are unchanged at $5.46. March corn futures are unchanged at $5.54 1/2.

August soybean futures are 12 1/2¢ higher at $14.25 3/4.

Sept. soybean futures are 12 1/4¢ higher at $13.74 1/4. New crop November soybean futures are 10 1/2¢ higher at $13.68 1/4.

Sept. wheat futures are 1/4¢ higher at $6.77 1/4.


Sept. soymeal futures are $4.60 per short ton higher at $357.40.


Sep. soy oil futures are $0.54 lower at 64.63¢ per pound.

In the outside markets, the NYMEX crude oil market is 0.28 lower (-0.39%) at $71.63. The U.S. dollar is lower, and the Dow Jones Industrials are 210 points lower (-0.60%) at 34,934 points.

Mike

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At 8:45am:

In early trading, the Sept. corn futures are 7¢ higher at $5.56 3/4. New crop Dec. futures are 7¢ higher at $5.53 3/4. March corn futures are 6 1/2¢ higher at $5.61.

August soybean futures are 24 1/2¢ higher at $14.37 3/4.

Sept. soybean futures are 24¢ higher at $13.86 1/4. New crop November soybean futures are 24¢ higher at $13.82.

Sept. wheat futures are 8¢ lower at $6.85.


Sept. soymeal futures are $5.80 per short ton higher at $358.60.


Sep. soy oil futures are $0.66 higher at 65.83¢ per pound.

In the outside markets, the NYMEX crude oil market is 0.11 higher (+0.15%) at $72.02. The U.S. dollar is lower, and the Dow Jones Industrials are 208 points lower (-0.59%) at 34,935 points.

Al Kluis Kluis Advisors, says that investors want to know how much heat is headed for the Corn Belt.

“The grain markets opened lower on Monday, but corn and soybean prices rallied back as the weather models changed. Today, the weather models hint at more heat in the 6-to-10 forecast, with less rain for the western Corn Belt. For this week, it looks like the worst of the heat will be over by Wednesday," Kluis stated in a note to customers.

Kluis added, "Now that Brazil is sold out of soybeans, will China step in and start to buy US soybeans? The Parana River in Argentina is at a 77-year low. The river is so low that ships cannot load the vessels all the way up, which is driving up shipping costs. This is the time window that China started to aggressively buy US soybeans one year ago."

 

Mike

 

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5 Replies
cborman11
Senior Contributor

Re: Floor Talk, July 27, 2021

Our crops are dying!!!!!

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nitefarm
Advisor

Re: Floor Talk, July 27, 2021

How big of an area would you estimate?

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BA Deere
Honored Advisor

Re: Floor Talk, July 27, 2021

Corn is pollinated and pineappling ...so flip a coin.  Beans hangin` in there for now

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timetippingpt
Honored Advisor

Re: Floor Talk, July 27, 2021

"Hanging in there"?   Your kidding right? Those beans have tremendous potential would have to be rated G/E at this point.

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BA Deere
Honored Advisor

Re: Floor Talk, July 27, 2021

Corn next to the (G/E beans) is stressed, as they say beans are made in August.  On the corn potential aborted kernels, shallow kernels going from 75,000 to 100,000 in a bushel, what does that do to yield?  Will 140,000 seed beans weigh 40lbs next year?

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