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marketeye
Veteran Advisor

Floor Talk June 9

At the close:

At the close, the July corn futures settled 1/4 of a cent lower at $3.65 per bushel. The Dec corn futures finished 1/2 of a cent lower at $3.83 per bushel.
July soybean futures settled 7 1/4 cents higher at $9.51. Nov. soybean futures finished 4 3/4 cents higher at $9.25.

July wheat futures closed 4 1/4 cents higher at $5.32.

July soymeal futures finished $7.00 per short ton higher at $316.50. 

In the outside markets, the Brent Crude oil market is $2.14 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 19 points higher.

Mike

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At mid-session:

At mid-session, the July corn futures are trading 1 cent higher at $3.66 per bushel. The Dec corn futures are 1/4 of a cent lower at $3.83 per bushel.
July soybean futures are trading 7 1/4 cents higher at $9.51. Nov. soybean futures are trading 4 1/2 cents higher at $9.24.

July wheat futures 7 1/2 cents higher at $5.35.

July soymeal futures are trading $5.50 per short ton higher at $315.00. 

In the outside markets, the Brent Crude oil market is $1.82 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 19 points higher.

Mike

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At the open:

At the open, the July corn futures are trading 1 cent higher at $3.66 per bushel. The Dec corn futures are 1 cent higher at $3.84 per bushel.
July soybean futures are trading 5 cents higher at $9.49. Nov. soybean futures are trading 3 cents higher at $9.24.

July wheat futures 2 cents higher at $5.30.

July soymeal futures are trading $2.80 per short ton higher at $312.30. 

In the outside markets, the Brent Crude oil market is $1.81 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 31 points lower.

 

 

Mike

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At 7:54am:

 

Early calls: Corn 1-2 cents lower, soybeans 1-2 cents higher, and wheat 2-4 cents lower.

 

Trackers:
Overnight grain, soybean markets = Trading mostly lower.
Brent Crude Oil = $1.43 higher.
Dollar =Higher. 
Wall Street = Seen lower, with data coming out that could signal how soon a rate hike will happen.

World Markets = Europe stocks were lower, Asia/Pacific stocks were mostly lower.

 

 

 

More in a minute,

 

Mike

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4 Replies
roarintiger1
Honored Advisor

Re: Floor Talk June 8

Mike, we need a spark in the markets of some sort.  Posts here have been very slow as of late.  Are guys that busy or do they just not care for the time being?   We either need someone from the CBOT saying we will again have record yields and nowhere to store this massive crop, or a few farmers stating that their need for extra bin space this fall is now not needed.  Either one should get some responses.  The real truth lies in the fact that there are real people who believe in both scenerios...........Smiley Wink

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giolucas
Veteran Advisor

Re: Floor Talk June 8

Roaringtiger,

 

It does feel like we have been in such a tight range that when the market goes up the most common words that are coming out of the experts are "The market went up because of SHORT COVERINGS"  

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marketeye
Veteran Advisor

Re: Floor Talk June 8

roarintiger1,

 

Here you go. Let's try this. Full story written for Agriculture.com by this Argentina-based market analyst.

 

Argentina Sits On 'Wall' Of Soybeans

 

Share your thoughts, after reading this.

 

Mike

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roarintiger1
Honored Advisor

Re: Floor Talk June 8

A wall of soybeans here and a wall of soybeans there.   Sounds like wall to wall soybeans to me.     It doesn't appear that we will need that final 21% of the unplanted soybeans afterall.  

It, however sounds like the Argentine farmers trade their beans for their inputs.  Maybe we here in the U.S. should be trading our magic beans for a cow or two...........................

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