PJ Quaid, an independent trader says that the soybean drop Thursday had never happened.
"Not in my memory. I am sure they may have synthetically in the past. Today’s break was violent. The fed , dollar, China and the weather all are bearish."
At the close, the July corn futures finished limit down 40¢ at $6.33. New crop September futures closed limit down 40¢ at $5.48 3/4. December corn futures closed limit down 40¢ lower at $5.32 3/4.
July soybean futures closed $1.18 3/4¢ lower at $13.29 1/2.
August soybean futures finished $1.07 lower at $12.95. New crop November soybean futures closed 90 1/2¢ lower at $12.52 3/4.
July wheat futures finished 23¢ lower at $6.39 1/4.
July soymeal futures closed $17.70 per short ton lower at $361.50.
July soy oil futures ended $5.50 lower at 56.57¢ per pound.
In the outside markets, the NYMEX crude oil market is -1.10 lower (-1.52%) at $71.05. The U.S. dollar is higher, and the Dow Jones Industrials are 244 points lower (-0.72%) at 33,789 points.
At the close:
UNPRECEDENTED. SOYBEANS FALL $1.18 Thursday.
At the close, the July corn futures finished limit down 40¢ at $6.33. New crop September futures closed limit down 40¢ at $5.48 3/4. December corn futures closed limit down 40¢ lower at $5.32 3/4.
July soybean futures closed $1.18 3/4¢ lower at $13.29 1/2.
August soybean futures finished $1.07 lower at $12.95. New crop November soybean futures closed 90 1/2¢ lower at $12.52 3/4.
July wheat futures finished 23¢ lower at $6.39 1/4.
July soymeal futures closed $17.70 per short ton lower at $361.50.
July soy oil futures ended $5.50 lower at 56.57¢ per pound.
In the outside markets, the NYMEX crude oil market is -1.10 lower (-1.52%) at $71.05. The U.S. dollar is higher, and the Dow Jones Industrials are 244 points lower (-0.72%) at 33,789 points.
Have you ever seen the soybean market close over a buck? I haven't.
Mike
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At midsession:
At midsession, the July corn futures are 34 1/4¢ lower at $6.38 1/4. New crop September futures are 31 1/4¢ lower at $5.56 3/4. December corn futures are 30¢ lower at $5.42 3/4.
July soybean futures are 61 1/4¢ lower at $13.86 1/2.
August soybean futures are 64 1/4¢ lower at $13.37. New crop November soybean futures are 61 1/2¢ lower at $12.82.
July wheat futures are 13¢ lower at $6.49 1/4.
July soymeal futures are $4.90 per short ton lower at $374.30.
July soy oil futures are $4.55 lower at 57.52¢ per pound.
In the outside markets, the NYMEX crude oil market is -1.76 lower (-2.44%) at $70.39. The U.S. dollar is higher, and the Dow Jones Industrials are 326 points lower (-0.96%) at 33,707 points.
Mike
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At 8:45am:
The sell-off continues for soybean, corn markets
Mike
