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marketeye
Veteran Advisor

Floor Talk June 3, 2021

At the close:

At the close, the July corn futures closed 13¢ lower at $6.62. New crop September futures ended 11¢ lower at $5.826 3/4. December corn futures closed 6 1/4¢ lower at $5.66 1/2.

July soybean futures closed 13 1/4¢ lower at $15.49 3/4. August soybean futures ended 12¢ lower at $15.04. New crop November soybean futures settled 10 1/4¢ lower at $14.03 1/2.

July wheat futures finished 11 1/4¢ lower at $6.76.

July soymeal futures closed $2.40 per short ton lower at $391.60.


July soy oil futures finished $1.53 lower at 68.85¢ per pound.

In the outside markets, the NYMEX crude oil market is +0.12 lower (-0.17%) at $68.71. The U.S. dollar is higher, and the Dow Jones Industrials are 9 points lower (-0.03%) at 34,591 points.

Jack Scoville, PRICE Futures Group, says that the market selling off was a bit precarious.

"It's been a strange day. We were higher on the adverse weather forecasts for the Great Plains, especially north, but then word set in about the Fed getting worried about inflation as reason to sell," Scoville says.

 

Mike

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At midsession:

At midsession, the July corn futures are 8 1/2¢ lower at $6.66 1/2. New crop September futures are 6 3/4¢ lower at $5.86 3/4. December corn futures are 2 3/4¢ lower at $5.70.

July soybean futures are 5 3/4¢ lower at $15.56 3/4. August soybean futures are 6 1/4¢ lower at $15.10. New crop November soybean futures are 5 1/2¢ lower at $14.08.

July wheat futures are 10 1/4¢ lower at $6.76.

July soymeal futures are $1.10 per short ton lower at $392.90.


July soy oil futures are $0.81 lower at 69.57¢ per pound.

In the outside markets, the NYMEX crude oil market is +0.27 lower (-0.39%) at $68.56. The U.S. dollar is higher, and the Dow Jones Industrials are 26 points lower (+0.08%) at 34,628 points.

Mike

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At 8:45am:

 

Corn, soybean prices jump Thursday.

 

Mike

 

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3 Replies
rickgthf
Senior Advisor

Re: Yesterday the headline was ....

Yesterday the headline was, "sell anything in grains".  Today the headline is, " intense heat .....".

Whiplash much?

cborman11
Senior Contributor

Re: Floor Talk June 3, 2021

Just gonna ignore the drought huh.

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k-289
Senior Advisor

Re: Floor Talk June 3, 2021

Worthington Minn.  temp  87  -  HUMIDITY 24%  ,    next  3  days  90's   -  -  -

Fargo  ND   95  - Humidity  20%   ,  3  days  102 ,  102 ,  91  -  -  -

Sioux Center  Ia  89  - Humidity  22% ,  3 day 95 ,  94 ,  91  -  -  -

Des Moines Ia   87  - Humidity  23% ,  3  day  91, 91 , 89  - -  - 

Then  precip.  chances  of  next 10  days  2%  to  24 %  to 34 %  -  -  - 

SW erly  air  flow 

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