Floor Talk March 12

[marketeye]

At the close:

At the close, the May corn futures settled 2 1/2 cents lower at $3.88 1/2 per bushel.
May soybean futures closed 2 1/4 cents lower at $9.90 1/2.

The May soyoil futures settled $0.23 lower at $30.87. The May soymeal futures closed $1.70 per short ton lower at $331.60.

May wheat futures ended 8 1/4 cents higher at $5.07.

In the outside markets, the Brent crude oil market is $1.20 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 203 points higher.

Mike

----------

At mid-session:

At mid-session, the May corn futures are trading 2 cents lower at $3.89 per bushel.
May soybean futures are trading unchanged at $9.92.

The May soyoil futures are trading $0.25 lower at $30.85. The May soymeal futures are trading $0.30 per short ton lower at $333.00.

May wheat futures are trading 8 3/4 cents higher at $5.07.

In the outside markets, the Brent crude oil market is $0.49 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 187 points higher.

Mike

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

At 10am:

All farm markets have sold off.

Mike

------

At the open:

At the open, the May corn futures are trading 1 cent lower at $3.90 per bushel.
May soybean futures are trading 1/4 of a cent higher at $9.93. The Nov. soybean futures are 1/4 of a cent higher at $9.93.

The May soyoil futures are trading $0.05 lower at $31.05. The May soymeal futures are trading $0.40 per short ton higher at $333.70.

May wheat futures are trading 5 3/4 cents higher at $5.04 3/4.

In the outside markets, the Brent crude oil market is $1.08 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 117 points higher.

Mike

---------

At 8:10am:

USDA Weekly Export Sales Thursday:

Corn=514,400  mt vs. the trade's expectations of 600,000-800,000 mt.

Soybeans=198,700 mt, vs. the trade's expectations of 300,000-500,000 mt.

Wheat=493,200 mt vs. the trade's expecations of 300,000-450,000 mt.

Mike

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

At 7:45am:

Early calls: Corn 1-2 cents lower, soybeans 1-2 cents higher, and wheat 5-7 cents higher.

Trackers:
Overnight grain, soybean markets = Trading mostly higher.
Brent Crude Oil = $0.91 higher.
Dollar =Lower. 
Wall Street = Seen higher, watching retail sales and earnings.

World Markets = Europe stocks were higher, Asia/Pacific stocks were mixed to lower.

More in a minute,

Mike