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Contributor

Floor Talk - June 26

At the close, the July corn futures are trading 8 1/4 cents higher at $3.85 per bushel. The Dec corn futures are 9 3/4 cents higher at $4.02 per bushel.

July soybean futures are trading 1 3/4 cents higher at $10.02.

July wheat futures 30 1/4 cents higher at $5.62 1/4.

July soymeal futures are trading $4.60 per short ton higher at $336.80. July soyoil futures are trading $0.14 lower at $33.22. 

In the outside markets, the Brent Crude oil market is $0.08 lower per barrel to $63.28, the U.S. dollar is higher, and the Dow Jones Industrials are 50 points higher.

 

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At the open:

July corn futures are trading 10 3/4 cents higher at $3.87 1/4 per bushel. The Dec corn futures are 11 3/4 cents higher at $4.04 per bushel.

July soybean futures are trading 22 1/4 cents higher at $10.22 1/2.

July wheat futures 28 1/2 cents higher at $5.60 1/2.

July soymeal futures are trading $10.60 per short ton higher at $347.30. July soyoil futures are trading $0.25 higher at $33.61.  

In the outside markets, the Brent Crude oil market is $0.45 lower per barrel to $62.75, the U.S. dollar is higher, and the Dow Jones Industrials are 39 points higher.

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Good morning!

 

At 6:45 am:
 
Early calls: Corn 6-8 cents higher, soybeans 10-12 cents higher, and wheat 16-19 cents higher.
 
Trackers:
Overnight grain, soybean markets = Trading higher.
Brent Crude Oil = $0.03 lower to $63.17.
Dollar = Unchanged.  
Wall Street = Higher.
World Markets = Europe stocks were mostly higher, Asia/Pacific stocks were lower.

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10 Replies
Honored Advisor

Re: Floor Talk - June 26

Another flood watch issued for my neck of the woods thru Saturday.   Don't know how large an area will be affected.  Probably several states.  In any case, more crop damage is imminent.  

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Veteran Advisor

Re: Floor Talk - June 26

http://water.weather.gov/ahps/

 

Pretty easy to see where the "bulls-eye" is.  More rain in that area again today.

Jenny mentioned a couple months ago that the moisture flow from the gulf to the midwest

was wide open.  Sure has played out that way.

In our area of SCMN we haven't had the deluge others have had to deal with but we've had

enough to bring the MN river up quite a bit.

 

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Senior Advisor

Re: Floor Talk - June 26

Another 4 inches last night

Higher and lower totals around

That puts this weeks total around 5-6 inches. Outta get me to 35 total since early May. Heck maybe more
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Senior Contributor

Re: Floor Talk - June 26

Since my farming career began in 1981 I have observed far more bushels lost due to too much rain than not enough here in NE Iowa.  Just sayin'

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Veteran Advisor

Re: Floor Talk - June 26

"Rain doesn't make grain " 

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Senior Advisor

Re: Floor Talk - June 26

 

Indiana --------- The NEW Show Me State   Smiley Sad

 

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Senior Advisor

Re: Floor Talk - June 26

First, let me say that I am not complaining.  Things are how things are.  That said . . .

 

Dumped another 4+ inches out of the guage this morning from last night's downpour.  Half a dozen terraces that washed over a month or so ago, that I repaired before planting, just got washed over again.  More terraces washed over this time than last time.  Many beans that weren't washed out are silted in.  Guess the heaviest of the rain happened here and downstream since the creek bottom ground didn't get flooded this time.  Good thing since I just replanted those beans yesterday, first time it's been dry enough since planted the first time.  It's looking like I should have taken PP on as much ground as possible, instead of fighting the weather to put the crop in, fighting the weeds, planting too wet, etc.  -- think that's what some of the neighor's are doing, and it's looking more and more like the right choice.

 

Don't know of any hay that's been cut that hasn't gotten rained on.  Now hearing about really low quality wheat, and excessive vomitoxin levels.

 

This will be easily my worst year of farming, although I've only been farming 20 years.  I, too, have done better in drought years than it looks like this year is shaping up. 

 

I haven't been saying much lately -- just because things suck here doesn't  mean it's that way everywhere.  Yep, just another of the "M" states, not an "I" state.  Still, it amazes me how the board prices can figure in record production even before the crop is planted, but somehow needs proof of probable production problems.

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Senior Advisor

Re: Floor Talk - June 26

 Still, it amazes me how the board prices can figure in record production even before the crop is planted,

 

Well --- They have to start somewhere -- as They say that seed corn today -- can make 300 bpa - it's when we put it in the ground-- thats when things go to he11 --

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Senior Advisor

Re: Floor Talk - June 26

That's true, guess I just disagree with their problem-free starting point.

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