Floor Talk June 29
At the close:
At the close, the Sept. corn futures settled 3 1/4¢ higher at $3.69 1/2, while December futures finished 3 3/4¢ higher at $3.80. Aug. soybean futures closed 1 3/4¢ higher at $9.20 3/4, November soybean futures ended 3¢ higher at $9.24 3/4. September wheat futures closed 23¢ higher at $4.96. July soy meal futures closed $0.20 per short ton lower at $296.40. July soy oil futures ended $0.27 higher at 32.52¢ per pound. In the outside markets, the Brent crude oil market is $0.14 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 161 points lower.
Wheat was higher overnight as little to no rain fell in much of the northern Plains while much of the Midwest gets a good soaking. Wheat futures jumped 8-9 cents. Corn rose about 2 cents while beans were up a nickel. Ethanol production, meanwhile, jumped to the highest in a month and stockpiles plunged to the lowest since January, good news for ethanol producers and corn growers alike. In weather news, it's going to be rain, rain and more rain in the heart of the Corn Belt today with precip forecast for Nebraska, Iowa and Illinois. Some severe weather is expected, however. Check out all the details in today's 3 Big Things at http://www.agriculture.com/news/crops/3-big-things-today-june-29-0
Here's what happened overnight:
Brent Crude Oil = up 1.2%
West Texas Intermediate = up 1.2%
Dollar = down 0.1%
Wall Street = U.S. stock futures higher in pre-market trading.
World Markets = Global stocks higher on positive economic data.