At the close:
At the close, the July corn futures settled 3 3/4¢ lower at $4.25, Dec. futures are 3 3/4¢ lower at $4.35 per bushel. July soybean futures ended 21 1/2¢ lower at $11.34, while Nov. soybean futures finished 19 1/4¢ lower at $11.19 1/4. July wheat futures closed 5¢ lower at $4.72 1/2. July soymeal futures closed $9.50 short ton lower at $397.70. July soyoil futures finished $0.80 lower at $31.16. In the outside markets, the Brent crude oil market is $1.48 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 42 points higher.
Mike
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At mid-session:
At mid-session, the July corn futures are 5 1/4¢ lower at $4.23, Dec. futures are 4 1/2¢ lower at $4.35 per bushel. July soybean futures are 23 1/4¢ lower at $11.32, while Nov. soybean futures are 21 1/2¢ lower at $11.17. July wheat futures are 2 cent lower at $4.75. July soymeal futures are $8.80 short ton lower at $398.40. July soyoil futures are $0.84 lower at $31.12. In the outside markets, the Brent crude oil market is $1.68 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 24 points lower.
Mike
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At 9am:
If you missed it, the USDA Weekly Export Sales Thursday showed strong soybean and wheat sales, with corn at the high end of trade expectations.
Wheat= 762,900 metric tons vs. the trade’s expectations of between 250,000-500,000 mt.
Corn= 1.088 mmt vs. the trade’s expectations of 800,000-1,600,000 mt
Soybeans= 1.585 mmt. vs. the trade’s expectations of 500,000-1,500,000 mt.
Soybean meal= 192,900 mt vs. the trade’s expectations of 75,000-350,000 mt.
Mike
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At the open:
At the open, the July corn futures are 2 1/4¢ lower at $4.26, Dec. futures are 1 3/4¢ lower at $4.37 per bushel. July soybean futures are 14 1/4¢ lower at $11.41, while Nov. soybean futures are 14 3/4¢ lower at $11.23. July wheat futures are 1 cent higher at $4.76. July soymeal futures are $5.10 short ton lower at $402.10. July soyoil futures are $0.44 lower at $31.52. In the outside markets, the Brent crude oil market is $0.83 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 107 points lower.
Mike
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The heat wave in the central US continues as the heat index today is expected to reach a painful 111 degrees in some parts of Oklahoma and along the Kansas-Missouri border today. The excessive heat is leading to all sorts of warnings, watches and advisories. It's also threatening a lot of newly planted corn and beans, which is underpinning prices, though soybeans were lower overnight on global demand worries.
Here's what happened overnight:
Brent Crude Oil = 1.6% lower.
West Texas Intermediate Crude Oil = 1.5% lower.
Dollar = up 0.3%.
Wall Street = U.S. stock futures lower in pre-market trading.
World Markets = Global stocks declining amid worries about Britain leaving the European Union.
