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Floor Talk - March 16

Good morning! 

 

As a quick reminder, Mike's out on vacation for the week, so you're stuck with the market diva! 

- Jordan

 

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At the close, the May corn futures are trading 1 1/2 cents lower at $3.79 per bushel.
May soybean futures are trading 4 3/4 cents lower at $9.69 1/4.
The May wheat futures are 12 cents higher at $5.14.

The May soyoil futures are trading $0.10 lower at $30.39. The May soymeal futures are trading $3.30 per short ton lower at $323.70.

 

"Wheat futures are trading 6 to 9 cents higher at midday, thanks to a strong weekly export inspections report. USDA weekly export inspections for the week ending March 12 were 519,592 MT, up sharply from 376,210 MT the previous week. They were also above year ago for the same week," explains Alan Brugler, market analyst.

In the outside markets, the Brent crude oil market is $1.29 lower per barrel to $53.38, the U.S. dollar is lower, and the Dow Jones Industrials are 221 points higher to at 17,970.

 

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At the open:

 

At the open, the May corn futures are trading 1/4 of a cent lower at $3.80 1/4 per bushel.
May soybean futures are trading 1 cent higher at $9.75.
The May wheat futures are 1 cent higher at $5.03.

 

The May soyoil futures are trading $0.18 lower at $30.49. The May soymeal futures are trading $.50 per short ton higher at $327.50.

 

In the outside markets, the Brent crude oil market is $.96 lower per barrel to $53.71, the U.S. dollar is lower, and the Dow Jones Industrials are 106 points higher to 17856.


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At 7:25 am:

Early calls: Corn 1-3 cents lower, soybeans 1-3 cents lower, and wheat 1-3 cents lower.

 

Trackers:
Overnight grain, soybean markets = Trading slightly lower.
Brent Crude Oil = $0.65 lower to $54.08.
Dollar = Lower.
Wall Street = Seen higher, Wall Street on “tenterhooks” ahead of Fed meeting where they could put brakes on dollar rally.
World Markets = Europe stocks were higher, Asia/Pacific stocks were mostly higher.

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