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Veteran Advisor

Floor Talk, July 31, 2019

At the close:

 

At the close, the Sep. corn futures ended 11¢ lower at $4.00. Dec. corn futures finished 11 1/4¢ lower at $4.09 1/2.

Sep. soybean futures settled 16 3/4¢ lower at $8.67. November soybean futures settled 16 1/2¢ lower at $8.80 1/2.

Sep. wheat futures closed 10 3/4¢ lower at $4.86 1/2.



September soymeal futures finished $2.80 per short ton lower at $304.90.

 December soy oil futures settled $0.54 lower at 28.29¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.35 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 32 points lower.

 

Mike

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At midsession:

At midsession, the Sep. corn futures are 5 1/2¢ lower at $4.05 3/4. Dec. corn futures are 5 1/2¢ lower at $4.15 1/2.

Sep. soybean futures are 9 1/4¢ lower at $8.74. November soybean futures are 9 3/4¢ lower at $8.87 1/2.

Sep. wheat futures are 7 3/4¢ lower at $4.89 1/2.



September soymeal futures are $1.80 per short ton lower at $305.90.

 December soy oil futures are $0.35 lower at 28.48¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.42 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 18 points higher.

 

Mike

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At 8:44am:

 

In early trading, the Sep. corn futures are 3 1/2¢ lower at $4.07 3/4. Dec. corn futures are 3 1/2¢ lower at $4.17 1/2.

Sep. soybean futures are 6 1/4¢ lower at $8.78. November soybean futures are 6 1/4¢ lower at $8.90 1/2.

Sep. wheat futures are 4 3/4¢ lower at $4.92 1/2.



September soymeal futures are $1.10 per short ton lower at $306.60.

 December soy oil futures are $0.12 lower at 28.71¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.61 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 59 points higher.

On Wednesday, private exporters reported to the USDA export sales of 104,500 metric tons of soybeans for delivery to unknown destinations. Of the total, 500 metric tons is for delivery during the 2018/2019 marketing year and 104,000 metric tons for delivery during the 2019/2020 marketing year.

The marketing year for soybeans began Sept. 1.

Al Kluis, Kluis Advisors, says that all eyes are on today’s USDA Crop Progress Report.

“The non-threatening weather forecasts and stalled trade talks were the primary reasons for grains sliding lower on Tuesday. The corn and soybean charts are fighting to hold just below major support. Both corn and soybeans broke below the early July lows on Tuesday. How will the the bears react over the next few days? That will dictate what happens until the August USDA report. Will they continue to push to new lows? Or will we see the bulls step up to the plate,” Kluis told customers in a daily note.

Kluis added, “Although trade talks between U.S. and China are back in the headlines more frequently than we have seen the last few months, there is still no reason to get excited. Reports suggest the two sides still cannot converge about the same topics they have been battling over since the trade war started.”

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Advisor

Sooner

Or later the fat lady will sing on the grains.  Be market's of consistent ups when she starts. 

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