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06-11-2018 07:03 AM - last edited on 06-11-2018 11:06 AM by marketeye
At mid-session, the July corn futures are 7 3/4¢ lower at $3.70. December futures 7 1/4¢ lower at $3.90 3/4. July soybean futures are 11 1/4¢ lower at $9.58. November soybean futures are 12¢ lower at $9.77. July wheat futures are 3 3/4¢ lower at $5.16. July soy meal futures are $6.50 per short ton lower at $351.30. July soy oil futures are 0.12 higher at 30.64¢ per pound. In the outside markets, the NYMEX crude oil market is $0.50 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 46 points higher.
At the open:
In early trading, the July corn futures are 2 1/4¢ lower at $3.75. December futures 2¢ lower at $3.75. July soybean futures are 4 1/2¢ lower at $9.64. November soybean futures are 4 1/4¢ lower at $9.85. July wheat futures are 3¢ lower at $5.17. July soy meal futures are $2.90 per short ton lower at $354.90. July soy oil futures are 0.02 higher at 30.54¢ per pound. In the outside markets, the NYMEX crude oil market is $0.62 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 41 points higher.
Corn and soybean futures were slightly lower in overnight trading on mostly favorable weather in the Corn Belt, though the excessive rainfall in central Iowa and south-central Illinois likely will lower ratings when they're released today. About three-fourths of both the corn and soybean crops in the US were in good or excellent condition last week. Money managers also seem to be watching crop conditions as they drastically cut their net-long positions in both crops. Flooding, however, may continue in Iowa as another several inches of rain are expected in several counties in the center of the state. Flooding is imminent in parts of central Illinois where too much rain has fallen in the past seven days, according to the National Weather Service. Check out all the details in today's 3 Big Things.
West Texas Intermediate = down 1.1%.
Brent Crude = down 0.9%
Dollar = up 0.1%.
Wall Street = U.S. stock higher pre-market.
World Markets = Global stocks higher overnight.
06-11-2018 08:46 AM
2.57" here, upwards of 4" just up river that is not here yet. River all but full and rising.
Insignificant # if all river bottoms were wiped off. (Except to us that farm them)
Largest single rain event in more than two years in my gauge.
Can now remove my area from the moderate drought map.
Average by extremes.
06-11-2018 09:55 AM
Just under 2.5" here but came over 3 days so no ponds in the fields.
We had missed most of the spotty showers around us so don't have to go
more than a couple miles in any direction to see ponds.
MN River at St. Peter jumped up more than 10 feet from Friday to Monday.
Certainly worse across northern IA in BA Deere country.
06-11-2018 10:37 AM
1.59" last 24 hours. Over 3" for June. Still licking our wounds from the hail storm. Corn looking much better, beans still not sure if we need to replant.
The "market makers" are very caution with all this rain falling on this "bullet proof" record growing crop. We shall see.
06-11-2018 12:25 PM
Six to eight inches the last three days in northern illinois took a ride sunday hundreds of acres under water roads closed due to high water culverts plugged with cornstalks corn on the river down 8 today more rain forecasted every day all week, still happy to be able to do this everyday though!
06-11-2018 06:51 PM
Thats too bad famfarmer, Extremes are difficult to deal with...... we could help you with that but it is along way to lay pipe and too many politicians between us.
It is the best job I ever tried. It is really the problem solving challenges that are most interesting and provide the most confidence building.
Tell us how this works out.
06-11-2018 07:49 PM
06-11-2018 07:57 PM