At the close:
At the close, the July corn futures finished 3/4¢ higher at $4.47 1/2. Dec. corn futures finished 1/4¢ higher at $4.57 1/4.
July soybean futures settled 5 1/2¢ lower at $9.03 1/2. November soybean futures closed 6 1/4¢ lower at $9.26 3/4.
Sep. wheat futures closed 2 1/4¢ lower at $5.35 3/4.
July soymeal futures closed $1.90 per short ton lower at $315.70.
July soy oil futures finished $0.35 lower at 28.00¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.18 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 190 points lower.
Mike
-------------
At midsession:
At midsession, the July corn futures are 2 1/2¢ higher at $4.49. Dec. corn futures are 2 1/4¢ higher at $4.59 1/4.
July soybean futures are 1/2¢ higher at $9.09 3/4. November soybean futures are 1/2¢ lower at $9.32 3/4.
Sep. wheat futures are 1/2¢ lower at $5.37.
July soymeal futures are $0.50 per short ton higher at $318.10.
July soy oil futures are $0.24 lower at 28.11¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.16 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 52 points lower.
Mike
------------
At 9:23am:
In early trading, the July corn futures are 5 3/4¢ higher at $4.52. Dec. corn futures are 5 1/2¢ higher at $4.62 1/4.
July soybean futures are 3 3/4¢ higher at $9.12 3/4. November soybean futures are 2 1/4¢ higher at $9.35.
Sep. wheat futures are 5¢ higher at $5.43.
July soymeal futures are $0.90 per short ton higher at $318.50.
July soy oil futures are $0.13 lower at 28.22¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.21 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 50 points lower.
Al Kluis, Kluis Advisors, says that the Monday Crop Progress reports were viewed as positive for grain prices.
“The USDA Crop Progress report on the soybean crop is in trouble. The first soybean crop rating came out on Monday, with only 54% of the nation’s soybeans rated good to excellent. This compares to 73% last year and 69% in the five year average. The last time it was this low was 1993, when the first rating came out at 60% goo/excellent,” Kluis told customers in a daily note.
Kluis added, “We are watching the weather and individual state reports for Illinois, Indiana and Ohio. Those states still have 9 million acres of soybeans to plant. After the weekend rain, it may be July before they get back into the field.”
Mike
