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marketeye
Veteran Advisor

Floor Talk March 2, 2021

At the close:

At the close, the May corn futures settled 6 3/4¢ higher at $5.45. July corn futures finished 5 3/4¢ higher at $5.32 3/4. New crop December corn futures finished 7¢ higher at $4.75 3/4.

May soybean futures closed 21 1/4¢ higher at $14.12. July soybean futures ended 17 3/4¢ higher at $13.98 1/2. New crop November soybean futures settled 10 1/2¢ higher at $12.29 1/4.

May wheat futures ended 16¢ higher at $6.66 3/4.


May soymeal futures finished $3.40 short term higher at $421.70.


May soy oil futures settled 0.43 higher at 49.66¢ per pound.

In the outside markets, the NYMEX crude oil market is -0.50 lower (-0.82%) at $60.14. The U.S. dollar is lower, and the Dow Jones Industrials are 25 points lower (-0.08%) at 31,510 points.

Mike

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At midsession:

 

At midsession, the May corn futures are 8¢ higher at $5.46 1/4. July corn futures are 6 3/4¢ higher at $5.33 3/4. New crop December corn futures are 7¢ higher at $4.75 3/4.

May soybean futures are 15 3/4¢ higher at $14.07. July soybean futures are 13 1/4¢ higher at $13.94 1/2. New crop November soybean futures 6¢ higher at $12.25 1/4.

May wheat futures are 17 1/2¢ higher at $6.67 3/4.

May soymeal futures are $2.90 short term higher at $421.20.


May soy oil futures are 0.38 higher at 49.61¢ per pound.

In the outside markets, the NYMEX crude oil market is +0.05 higher (+0.08%) at $60.69. The U.S. dollar is lower, and the Dow Jones Industrials are 115 points lower (-0.37%) at 31,420 points.

 

Mike

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At 8:45am:

 

Ag markets diverge Tuesday.

 

Mike

 

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6 Replies
roarintiger1
Honored Advisor

Re: Floor Talk March 2, 2021

The rally was on......then the rally was off......today the rally was back on.  

I would like the rally to stay on the “on” position for a while yet. 

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BA Deere
Honored Advisor

Re: Floor Talk March 2, 2021

It`s gonna be a long year, Roarin`  Smiley Happy    Al Kluis was on the WHO Big Show and said beans in China are $25 and corn is $11. 

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Hobbyfarmer
Honored Advisor

Re: Floor Talk March 2, 2021

The average Chinese consumer is being hosed.

A high %  of Brazil beans being harvested right now have been prebought for under $8, many for a #  starting with a 6.

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BA Deere
Honored Advisor

Re: Floor Talk March 2, 2021

I doubt the Chinese cancel orders for any $8 beans they`ve bought.   Hmmm  Smiley Happy

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k-289
Senior Advisor

Re: Floor Talk March 2, 2021

Does  Beijing  have -  own  a  market  advisory  group - ?      

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roarintiger1
Honored Advisor

Re: Floor Talk March 2, 2021

The rally is back off today. 

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