Floor Talk March 2

[Tony_Dreibus]

At the close:

At the close, the May corn futures settled 1¢ lower at $3.85. July futures finished 1¢ lower at $3.92. May soybean futures finished 3¢ higher at $10.71.  July soybean futures ended 2 3/4¢ higher at $10.79 1/4. May wheat futures ended 15 1/2¢ lower at $5.00. May soy meal futures closed $4.30 per short ton lower at $392.90. January soy oil futures finished 0.09 lower at 32.30¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.25 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 221 points lower.

Mike

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At the mid-session:

At the mid-session, the May corn futures are 2¢ lower at $3.84. July futures are 2¢ lower at $3.91. May soybean futures are 3¢ lower at $10.65.  July soybean futures are 3 1/4¢ higher at $10.73. May wheat futures are 20 3/4¢ lower at $4.97. May soy meal futures are $5.80 per short ton lower at $391.40. January soy oil futures are 0.16 higher at 32.55¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.03 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 151 points lower.

Mike

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At 9:00am:

In early trading, the May corn futures are 1/4¢ lower at $3.86. July futures are 1/2¢ lower at $3.93. May soybean futures are 1 1/4¢ higher at $10.69.  July soybean futures are 1/2¢ higher at $10.77. May wheat futures are 7 3/4¢ lower at $5.07. May soy meal futures are $0.70 per short ton lower at $396.50. January soy oil futures are 0.11 higher at 32.50¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.44 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 339 points lower.

Mike

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Soybean futures were higher again overnight as forecasts continue to call for dry weather in Argentina. About two-thirds of the country will not see rain anytime soon, and the areas that will are fringe growing areas, forecasters said. Wheat futures were lower despite calls for continued dry, windy weather in the southern Plains. Beans rose about 8 cents, wheat lost 2-3 cents and corn rose 2 cents. Export sales, meanwhile, were better than expected for corn and soybeans but wheat sales missed. In weather news, it's dry and windy in the southern Plains, exacerbating the drought for winter wheat, while flooding continues in Arkansas, Mississippi and Tennessee, the NWS said. Check out all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-march-2.

Brent Crude Oil = down 0.6%.

West Texas Intermediate = down 0.6%.

Dollar = down 0.4%

Wall Street = U.S. stock futures lower in pre-market trading.

World Markets = Global stocks lower overnight.