Floor Talk June 5
At the close:
At the close, the July corn futures settled 3 cents lower at $3.60 1/2 per bushel. The Dec corn futures finished 3 cents lower at $3.78 per bushel.
July soybean futures closed 8 3/4 cents lower at $9.37 3/4. Nov. soybean futures finished 9 3/4 cents lower at $9.14 1/4.
July wheat futures finished 6 3/4 cents lower at $5.17.
July soymeal futures closed $0.80 per short ton lower at $304.90.
In the outside markets, the NYMEX Crude oil market is $0.28 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 44 points lower.
At mid-session, the July corn futures are trading 3/4 of a cent lower at $3.62 per bushel. The Dec corn futures are 1 cent lower at $3.80 per bushel.
July soybean futures are trading 5 1/2 cents lower at $9.41. Nov. soybean futures are trading 6 cents lower at $9.18.
July wheat futures 1 3/4 cents higher at $5.25.
July soymeal futures are trading $0.10 per short ton higher at $305.80.
In the outside markets, the Brent Crude oil market is $0.02 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 40 points lower.
In early trading,
At 9am, the July corn futures are trading 1 1/2 cents higher at $3.65 per bushel. The Dec corn futures are 1 cent higher at $3.82 per bushel.
July soybean futures are trading 1 1/4 cents lower at $9.45. Nov. soybean futures are trading 3 cents lower at $9.21.
July wheat futures 3/4 of a cent higher at $5.24.
July soymeal futures are trading $0.60 per short ton higher at $306.30.
In the outside markets, the Brent Crude oil market is $0.53 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 3 points lower.
Early calls: Corn 1-2 cents lower, soybeans 1-2 cents lower, and wheat 1-2 cents lower.
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.40 higher.
Wall Street = Seen lower, although unemployment rate fell to 5.5% with employment report Friay up 280,000.
World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.
More in a minute,
Re: Floor Talk June 5
Well from a wheat perspective we are testing the trend..... so far today the market forgot to read the propaganda
Failed to achieve new lows on the last downward plunge and is in the area of upward resistance
Short term traders have a sell opportunity.....with upward caution....
enjoy your chosen propaganda, we are either "range bound", or "creating a trend bottom"
Not as strong but similar ---- much less defined
Soybeans....... less defined ---- lets say coasting---- loosing 50 cents in 6 months is not the train wreck we saw going into last fall..... lets call it a "sympathy slide". But we did see a new low with the last set of palpatations.... and lets face it..... weighing on the market, a lot of beans could go in the ground in June, lets say should.. with former corn acres available.....
(I am not convinced that crop insurance drives decisions as much as opportunity does)