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Veteran Contributor

Floor Talk June 26

At the close:

At the close, the July corn futures finished 2¢ higher at $3.52 1/2. December futures finished 1 3/4¢ higher at $3.73 1/4.

July soybean futures ended 7 1/4¢ lower at $8.67 1/4. November soybean futures ended 8¢ lower at $8.87 1/2.

July wheat futures settled 7 1/2¢ lower at $4.83.

July soy meal futures closed $0.80 per short ton higher at $333.70. July soy oil futures finished unchanged at 28.94¢ per pound. 

In the outside markets, the NYMEX crude oil market is $2.29 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 127 points higher.

 

Mike

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At mid-session:

At mid-session, the July corn futures are 3¢ higher at $3.53. December futures 2 1/2¢ higher at $3.74. July soybean futures are 3/4¢ lower at $8.73. November soybean futures are 1 3/4¢ lower at $8.93. July wheat futures are 5 1/2¢ lower at $4.85. July soy meal futures are $0.80 per short ton higher at $333.70. July soy oil futures are 0.18 higher at 29.12¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.98 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 74 points higher.

 

Mike North, President Commodity Risk Management Group,  says that the major drivers have to some degree become old news. 
“This Friday's Acreage report/end of month/end of quarter play is bringing some position squaring and profit taking to the table.  However, mid-day trade still holds a softer tone,” North says.

 

Mike

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At 9:00am:

In early trading, the July corn futures are 1 1/4¢ higher at $3.51. December futures 1 1/4¢ higher at $3.72. July soybean futures are 1/2¢ lower at $8.74. November soybean futures are 1 3/4¢ lower at $8.93. July wheat futures are 3¢ lower at $4.87. July soy meal futures are $1.50 per short ton higher at $334.40. July soy oil futures are 0.08 higher at 29.02¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.38 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 14 points higher.

 

Mike

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Grains and soybeans were little changed as investors weigh ongoing trade tensions against low-priced supplies and declining corn conditions. Corn was unchanged, wheat lost 1-2 cents and soybeans were up 3 cents overnight. Export inspections for all three crops were lower week-to-week, according to the USDA. In weather news, expected rainfall will likely worsen flooding in much of northern Illinois and southern Wisconsin, the National Weather Service said in a report this morning. Check out today's 3 Big Things for all the details. 

 

West Texas Intermediate = up 0.4%.

Brent Crude = up 0.9%

Dollar = up 0.2%.

Wall Street = U.S. stock mixed pre-market.

World Markets = Global stocks mixed overnight.

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