Floor Talk March 18, 2021
At midsession, the May corn futures are 3 3/4¢ lower at $5.54. July corn futures are 6 1/2¢ lower at $5.36 1/2. New crop December corn futures are 4 1/41¢ lower at $4.71.
May soybean futures are 6 1/4¢ lower at $14.11 1/2. July soybean futures are 8¢ lower at $13.98. New crop November soybean futures are 14 1/2¢ lower at $12.21 1/2.
May wheat futures are 8 1/2¢ lower at $6.31 1/2.
May soymeal futures are $0.30 short term lower at $404.60.
May soy oil futures are $0.71 lower at 53.89¢ per pound.
In the outside markets, the NYMEX crude oil market is -2.72 lower (-4.21%) at $61.88. The U.S. dollar is higher, and the Dow Jones Industrials are 176 points higher (+0.53%) at 33,191 points.
Corn market remains quiet, despite more sales to China Thursday.
Separately, the USDA’s Weekly Export Sales Report Thursday shows weak demand figures for soybeans while corn beat expectations.
Corn= 1.22 million metric tons (mmt.) vs. the trade expectations of 300,000-1.10 mmt.
Soybeans= 202,400 mt. vs. the trade's expectation of 200,000-800,000 mt.
Wheat= 390,100 mt.
Soybean meal= 234,600 mt.
What say you?
Re: Floor Talk March 18, 2021
How long the idiot traders gonna ignore the complete false information the usda puts out?
Re: The Chinese have switched from buying US soybeans to buying US corn, what's so..
The Chinese have switched from buying US soybeans to buying US corn, what's so bad about that?