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Veteran Advisor

Floor Talk, March 1, 2019

At midsession, the May corn futures are 4 3/4¢ lower at $3.66. July futures are 4 3/4¢ lower at $3.74.

May soybean futures are 9 1/4¢ lower at $9.01. July soybean futures are 9¢ lower at $9.15.


 

May wheat futures are 11 1/2¢ lower at $4.48.



 

May soymeal futures are 2.80 per short ton lower at $303.20.

May soy oil futures are 0.06 lower at 30.19¢ per pound.



 

In the outside markets, the NYMEX crude oil market is $1.36 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 65 points higher.

 

Mike

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At 9:18am:

 

At 9:00am, the May corn futures are 1 1/2¢ lower at $3.69. July futures are 1 3/4¢ lower at $3.77.

May soybean futures are 1 1/2¢ higher at $9.11 3/4. July soybean futures are 1 1/2¢ higher at $9.25 1/2.


 

May wheat futures are 5 1/4¢ lower at $4.54.

May soymeal futures are 0.40 per short ton lower at $305.60.



 

May soy oil futures are 0.27 higher at 30.52¢ per pound.

 



In the outside markets, the NYMEX crude oil market is $0.23 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 178 points higher.

 

Al Kluis, Kluis Advisors, says that investors remain leery.

 

“We are finally in delivery of March corn, so look for a near-term low pretty soon. The market still remains a bit uneasy since we still do not have a trade deal done with China. The money feels like it wants to remain on the sidelines. ” Kluis told customers in a daily note.

 

 

Mike

 

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3 Replies
Esteemed Advisor

Re: Floor Talk, March 1, 2019

"The money looks to want to remain on the sidelines" from Alan

 

Now there is mind numbing dribble if ever it existed.

1. The money could care less where it goes

2. The managers of the money are not staying on the sidelines,they are getting short - the cause of the price decline

3. "remain" on the sidelines....see #2...not remaining anywhere

4. Spec selling driving prices down in late Feb/March is a very bullish event btw

 

jmo after a few decades at this game

Honored Advisor

Re: Floor Talk, March 1, 2019

Time will tell

 

 

We just don't appreciate time like we should.  Our most valuable possession.

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Esteemed Advisor

Re: Floor Talk, March 1, 2019

Smiley Wink

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