At the close:
At the close, the July corn futures settled 1 1/4 cents lower at $3.58 per bushel. The Dec corn futures finished 1 3/4 cents lower at $3.73 per bushel.
July soybean futures ended 8 cents higher at $9.77 3/4. Nov. soybean futures finished 2 1/2 cents higher at $9.42 1/4.
July wheat futures closed 3 1/4 cents lower at $4.88.
July soymeal futures closed $2.90 per short ton higher at $326.60. July soyoil futures settled $0.60 lower at $32.25.
In the outside markets, the Brent Crude oil market is $0.65 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 185 points higher.
Mike
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At mid-session:
At mid-session, the July corn futures are trading 1/4 of a cent lower at $3.58 per bushel. The Dec corn futures are 1 cent lower at $3.74 per bushel.
July soybean futures are trading 5 3/4 cents higher at $9.74. Nov. soybean futures are trading 1 1/4 cents higher at $9.41.
July wheat futures 2 cents higher at $4.93.
July soymeal futures are trading $2.00 per short ton higher at $325.70. July soyoil futures are trading $0.49 lower at $32.36.
In the outside markets, the Brent Crude oil market is $0.52 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 200 points higher.
Jack Scoville, The PRICE Futures Group senior market analyst, says that it’s still a weather market. “I am kind of surprised corn is not doing better. Export sales were as expected to stronger than expected which is creating some of the buying interest, especially in soybeans, but mostly we are still weather. The system will bring big rains to the southern US and hurt SRW harvest and planting of double crop beans. Corn needs it drier as well.”
The U.S. Dollar is showing some weakness supporting futures a bit, but still thinking this is primarily weather related. “My trade business is off to a very quiet start, today. But, some of my guys are buying calls and the I got selling interest above the market.”
Mike
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In early trading:
At 9am, the July corn futures are trading 1/4 of a cent higher at $3.59 per bushel. The Dec corn futures are 1/2 of a cent higher at $3.75 per bushel.
July soybean futures are trading 1 1/4 cents lower at $9.67. Nov. soybean futures are trading 2 1/4 cents lower at $9.37.
July wheat futures 3 cents higher at $4.94.
July soymeal futures are trading $0.70 per short ton lower at $323.00. July soyoil futures are trading $0.24 lower at $32.61.
In the outside markets, the Brent Crude oil market is $0.54 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 129 points higher.
Mike
At 7:55am:
USDA Weekly Export Sales Thursday show:
Wheat= 315,700 metric tons vs. the trade's expectations of 200,000-400,000 metric tons.
Corn= 827,600 mt vs. the trade's expectations of between 350,000-850,000 mt.
Soybeans= 664,900 mt. vs. the trade's expectations of 250,000-600,000 mt.
Soybean meal= 176,300 mt vs. the trade's expectations of 25,000-200,000 metric tons. .
Mike
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At 7:15am:
Early calls: Corn 1-2 cents lower, soybeans 5-7 cents lower, and wheat 1-2 cents higher.
Trackers:
Overnight grain, soybean markets = Trading mostly lower.
Brent Crude Oil = $0.92 higher.
Dollar =Lower.
Wall Street = Seen higher, investors bet on Greece's bailout talks.
World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.
More in a minute,
Mike
