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Veteran Advisor

Floor Talk June 24

At the close:

The Sep. corn futures contract closed 1 1/2 cents lower at $4.43.

The Dec. corn futures settled 1 3/4 cents lower at $4.40.

 

The July soybean futures contract settled 11 1/4 cents lower at $14.13.

The Nov. soybean futures finished 9 cents lower at $12.24.

 

Sep wheat futures closed 8 cents lower at $5.80.

 

The Dec soymeal futures contract finished $7.50 per short ton lower at $387.10. The Dec soyoil futures ended $0.51 higher at $41.17.

 


In the outside markets, the NYMEX Brent crude oil is $0.34 per barrel lower, the dollar is lower and the Dow Jones Industrials are 75 points lower.

 

Mike

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At 1:30pm:

Bryan Doherty, Stewart-Peterson Senior Market Advisor, says the rains mean something different to some folks.

 

"Saturated soils in the north may get relief in the form of longer term forecast for warmer and drier.  The market is wasting little time factoring this in through lower prices.  For every farmer that is concerned due to wet, there are probably a great number in the Midwest who are benefiting from increased moisture," Doherty says.

 

Mike

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At mid-session:

 

The Sep. corn futures contract is trading 4 1/2 cents lower at $4.34.

The Dec. corn futures are trading 4 cents lower at $4.38.

 

The July soybean futures contract is 15 cents lower at $14.09.

The Nov. soybean futures are trading 7 cents lower at $12.26.

 

Sep wheat futures are 7 3/4 cents lower at $5.81.

 

The Dec soymeal futures contract is trading $5.20 per short ton lower at $389.40. The Dec soyoil futures are trading $0.28 higher at $40.94.

 


In the outside markets, the NYMEX Brent crude oil is $0.18 per barrel higher, the dollar is higher and the Dow Jones Industrials are 3 points higher.

 

Mike

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At the open:

 

The July corn futures contract is trading 3 cents lower at $4.50.

 

The Dec. corn futures are trading 2 1/4 cents lower at $4.49.

 

 

 

The July soybean futures contract is 12 1/2 cents higher at $14.28.

 

The Nov. soybean futures are trading 8 cents higher at $12.39.

 

 

 

July wheat futures are 1/2 of a cent higher at $5.85.

 

 

 

The July soymeal futures contract is trading $1.60 per short ton higher at $460.80. The July soyoil futures are trading $0.49 higher at $40.62.

 

 

 


In the outside markets, the NYMEX Brent crude oil is $0.28 per barrel lower, the dollar is lower and the Dow Jones Industrials are 49 points lower.

 

Mike

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At 7:45am:

Early calls: Corn is seen 2-4 cents lower, soybeans 10-12 cents lower, and wheat 1-2 cents lower.

Trackers:
Overnight grain, soybean markets=Trading lower.

Brent Crude Oil=$0.26 per barrel higher.
Dollar= Lower.

Wall Street=Seen slightly lower, ahead of housing data.

World Markets=Europe stocks were higher, Asia/Pacific stocks were mostly higher.

 


More in a minute,

 

Mike

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