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marketeye
Veteran Advisor

Floor Talk, June 25, 2020

At midsession:

At midsession, the July corn futures are 8 1/4¢ lower at $3.15 3/4. Dec. corn futures are 7 1/2¢ lower at $3.26 3/4.

July soybean futures are 6¢ lower at $8.64 3/4. November soybean futures are 6¢ lower at $8.63 1/4.

Sep. wheat futures are 3 3/4¢ higher at $4.84.

July soymeal futures are $2.80 per short ton lower at $283.90.

July soy oil futures are $0.09 lower at 27.56¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.68 per barrel higher at $38.69. The U.S. dollar is higher, and the Dow Jones Industrials are 61 points higher.

Mike

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At 9:40am:

In early trading, the July corn futures are 6 1/4¢ lower at $3.18. Dec. corn futures are 7 1/2¢ lower at $3.26 3/4.

July soybean futures are 5 1/4¢ lower at $8.65 3/4. November soybean futures are 6¢ lower at $8.64 1/4.

Sep. wheat futures are 3 3/4¢ higher at $4.89.

July soymeal futures are $1.50 per short ton lower at $285.20.

 July soy oil futures are $0.14 lower at 27.51¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.46 per barrel higher at $38.47. The U.S. dollar is higher, and the Dow Jones Industrials are 99 points higher.


Al Kluis, Kluis Advisors, says that investors will be watching weather forecasts, going forward.

"Estimates are being discussed daily about the USDA "Acreage" report this coming Tuesday. Many predictions suggest an increase in soybean acres of more than 1 million acres while corn acres decline. Traders are also watching the forecasts; weather models are suggesting dry areas in the Corn Belt will get much-needed moisture over the next seven days," Kluis told customers in a daily note.

Kluis added, "This is the time of year when grain prices can have a quick reaction to a miss by the weather models. If the rain events forecast for the next week do not unfold, then the bulls could get the spark they have been waiting for."

 

Mike

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