cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Veteran Contributor

Floor Talk March 1

At the close:

At the close, the May corn futures finished 4 1/4¢ higher at $3.86 1/4. July futures finished 4¢ higher at $3.93 1/2. May soybean futures closed 12 1/2¢ higher at $10.68.  July soybean futures finished 12 1/4¢ higher at $10.76 1/2. May wheat futures ended 20 1/2¢ higher at $5.15 1/2. May soy meal futures settled $0.16 per short ton higher at $397.20. January soy oil futures ended 0.16 higher at 32.39¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.64 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 500 points lower.

 

Mike

-------------

At 12:45pm:

 

If you missed it, the USDA announced fresh soybean sales today, outside of the weekly export sales.

 

Private exporters reported to the U.S. Department of Agriculture the following activity:
-- Export sales of 120,000 metric tons of soybeans for delivery to China. Of the total 60,000 metric tons is for delivery during the 2017/2018 marketing year and 60,000 metric tons is for delivery during the 2018/2019 marketing year; and
-- Export sales of 126,000 metric tons of soybeans for delivery to unknown destinations. Of the total 63,000 metric tons is for delivery during the 2017/2018 marketing year and 63,000 metric tons is for delivery during the 2018/2019 marketing year.
The marketing year for soybeans began Sept. 1.

 

Mike

---------

 

At mid-session:

At mid-session, the May corn futures are 2 1/4¢ higher at $3.84. July futures are 2 1/4¢ higher at $3.91. May soybean futures are 7¢ higher at $10.62.  July soybean futures are 6 1/2¢ higher at $10.70. May wheat futures are 11¢ higher at $5.06. May soy meal futures are $0.90 per short ton lower at $393.80. January soy oil futures are 0.03 lower at 32.20¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.33 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 110 points lower.

 

Mike

--------

At 9:20am:

In early trading, the May corn futures are 1/4¢ lower at $3.81. July futures are 1/4¢ lower at $3.89. May soybean futures are 1/2¢ lower at $10.55.  July soybean futures are 3/4¢ lower at $10.63. May wheat futures are 3 3/4¢ higher at $4.98. May soy meal futures are $4.70 per short ton lower at $390.00. January soy oil futures are 0.15 lower at 32.08¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.17 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 5 points lower.

 

Mike

------------

Wheat futures were lower overnight as investors and hedgers take a break from buying and book some profits. Fundamentally, nothing has changed as it's still extremely dry in the southern Plains. Soybeans were steady overnight, underpinned by the ongoing dry weather in Argentina. Chicago wheat lost 4 cents while KC wheat was down about a penny. Beans were up less than a cent overnight, while corn was down 2 cents. Ethanol production declined, but still was at relatively strong levels, while stockpiles of the biofuel rose last week, according to the EIA. In weather news, incessant rain in Arkansas and Mississippi are causing major flooding in the states. Three inches of rain have already fallen in the area while another 3 inches is expected through this morning, the National Weather Service said. Check out all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-march-1.

 

Brent Crude Oil = down 0.9%.

West Texas Intermediate = down 0.7%.

Dollar = up 0.2%

Wall Street = U.S. stock futures lower in pre-market trading.

World Markets = Global stocks lower overnight.

0 Kudos