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marketeye
Veteran Advisor

Floor Talk June 1, 2021

At the close:

At the close, the July corn futures finished 32¢ higher at $6.88 3/4. New crop September futures finished 28 3/4¢ higher at $6.02. December corn futures closed 31 1/2¢ higher at $5.77.

July soybean futures finished 18¢ higher at $15.48 1/2. August soybean futures closed 18 3/4¢ higher at $15.00. New crop November soybean futures ended 24 1/4¢ higher at $13.97.

July wheat futures closed 30¢ higher at $6.93 1/2.


July soymeal futures settled $3.20 per short ton higher at $398.70.


July soy oil futures closed $1.60 higher at 67.39¢ per pound.

In the outside markets, the NYMEX crude oil market is +1.35 higher (+2.04%) at $67.67. The U.S. dollar is lower, and the Dow Jones Industrials are 74 points higher (+0.22%) at 34,603 points.

 

Mike

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At midsession:

At midsession, the July corn futures are 27 1/2¢ higher at $6.84 3/4. New crop September futures are 27 1/4¢ higher at $6.01 1/4. December corn futures are 28¢ higher at $5.73 1/2.

July soybean futures are 16¢ higher at $15.46. August soybean futures are 16 3/4¢ higher at $14.98 3/4. New crop November soybean futures are 22¢ higher at $13.95 1/2.

July wheat futures are 27¢ higher at $6.90 1/2.


July soymeal futures are $1.50 per short ton higher at $397.00.


July soy oil futures are $1.45 higher at 67.24¢ per pound.

In the outside markets, the NYMEX crude oil market is +1.37 higher (+2.07%) at $67.69. The U.S. dollar is lower, and the Dow Jones Industrials are 124 points higher (+0.36%) at 34,654 points.

 

Britt O'Connell, ever.ag, says that the markets are building in frost premium.

"Markets are spinning higher today as the market tries to gain a better understanding of how much damage was caused to the crop over the weekend due to frost. Anecdotally, we have heard of areas hurt in Northeast IA, Northcentral Michigan, Central Minnesota and North Dakota. In stark contrast to this past weekend's weather, the extended forecast has a hot and dry weather pattern moving into much of the Corn Belt. While the heat will be welcomed, many areas are walking a fine line between just enough and not enough rain. Volatility will remain high as long as ending stocks remain tight," O'Connell says.

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At 8:45am:

In early trading, the July corn futures are 19 1/2¢ higher at $6.75 3/4. New crop September futures are 23 1/4¢ higher at $5.96 1/4. December corn futures are 25¢ higher at $5.70 1/2.

July soybean futures are 34 3/4¢ higher at $15.65. August soybean futures are 34 1/2¢ higher at $15.16 3/4. New crop November soybean futures are 36¢ higher at $14.08 1/2.

July wheat futures are 20¢ higher at $6.83 1/2.


July soymeal futures are $9.80 per short ton higher at $405.30.


July soy oil futures are $1.48 higher at 67.27¢ per pound.

In the outside markets, the NYMEX crude oil market is +2.06 higher (+3.11%) at $66.44. The U.S. dollar is lower, and the Dow Jones Industrials are 303 points higher (+0.88%) at 34,832 points.

Mike

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3 Replies
roarintiger1
Honored Advisor

Re: Floor Talk June 1, 2021

Mike,  So.... what’s the latest advice from your market advisors? Enquiring minds want to know. 
Also, what’s the latest info out of South America? We haven’t heard from Luis in quite some time.  Thanks!

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Hobbyfarmer
Honored Advisor

Re: Floor Talk June 1, 2021

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