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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:
Mike
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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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Re: Floor Talk March 2, 2021
It`s gonna be a long year, Roarin` 🙂 Al Kluis was on the WHO Big Show and said beans in China are $25 and corn is $11.
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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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Re: Floor Talk March 2, 2021
I doubt the Chinese cancel orders for any $8 beans they`ve bought. Hmmm 🙂
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Re: Floor Talk March 2, 2021
Does Beijing have - own a market advisory group - ?
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Re: Floor Talk March 2, 2021
The rally is back off today.