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07-30-2018 07:17 AM - last edited on 07-30-2018 02:06 PM by marketeye
At the close:
At the close, the September corn futures finished 5 1/4¢ higher at $3.67. December futures closed 5¢ higher at $3.81 1/4.
August soybean futures finished 4 1/2¢ higher at $8.75. November soybean futures closed 5 3/4¢ higher at $8.91.
September wheat futures closed 16¢ higher at $5.46 1/2.
August soymeal futures closed $1.10 per short ton higher at $332.90. August soy oil futures closed 0.21¢ lower at 28.46.
In the outside markets, the NYMEX crude oil market is $1.25 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 94 points lower.
At mid-session, the September corn futures are 5 1/2¢ higher at $3.67. December futures are 5 1/2¢ higher at $3.81.
August soybean futures are 5 1/4¢ higher at $8.75. November soybean futures are 6¢ higher at $8.91.
September wheat futures are 17 3/4¢ higher at $5.48.
August soymeal futures are $0.50 per short ton higher at $332.30. August soy oil futures 0.02¢ higher at 28.69.
In the outside markets, the NYMEX crude oil market is $1.47 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 79 points lower.
In early trading, the September corn futures are 6 1/2¢ higher at $3.68. December futures are 6 1/2¢ higher at $3.82.
August soybean futures are 7 1/4¢ higher at $8.77. November soybean futures are 8 1/4¢ higher at $8.93.
September wheat futures are 19 1/2¢ higher at $5.50.
August soymeal futures are $2.40 per short ton higher at $334.20. August soy oil futures 0.07¢ lowr at 28.49.
In the outside markets, the NYMEX crude oil market is $1.64 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 7 points lower.
Soybeans were higher in overnight trading on speculation that China will eventually have to return to the US for supplies. China is getting low on supplies and paying a sharp premium for dwindling South American supplies, Allendale said. Beans were up 5 cents, corn rose 3 cents and wheat jumped 10-12 cents overnight. Money managers boosted their bullish bets on wheat last week while leaving corn and soybean positions little changed. In weather news, some isolated thunderstorms are expected in parts of eastern Iowa today, while severe storms rumble through eastern Oklahoma. Check out today's 3 Big Things for all the details.
West Texas Intermediate = up 2.2%.
Brent Crude = up 0.8%
Dollar = down 0.2%.
Wall Street = U.S. stock mixed pre-market.
World Markets = Global stocks mixed overnight.
07-30-2018 08:40 AM
Almost everyone already knew that China was still going to need U.S. soybeans. The price went much too low, much too fast. The question is......Is the door big enough for all the bears to get out?