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marketeye
Veteran Advisor

Floor Talk March 20

At the close:

At the close, the May corn futures finished 1/2¢ lower at $3.74 1/2. July futures settled 3/4¢ lower at $3.82 1/2. May soybean futures finished 5 3/4¢ higher at $10.28.  July soybean futures ended 5 1/2¢ higher at $10.39. May wheat futures closed 2 1/4¢ higher at $4.53. May soy meal futures settled $3.10 per short ton higher at $361.70. January soy oil futures finished 0.32 lower at 31.74¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.36 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 154 points higher.

 

Jason Roose, U.S. Commodities, says the markets have stabilized today.

"After a profit taking Monday, potential harvest delays in Brazil and continued strong corn exports, the grains have support. Plus, support is coming from a big crop report at the end of the month and an unknown growing season," Roose says.

 

On Tuesday, private exporters reported to the U.S. Department of Agriculture export sales of 110,000 metric tons of corn for delivery to Peru during the 2017/2018 marketing year.

The marketing year for corn began Sept. 1.

 

Mike

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At mid-session:

At mid-session, the May corn futures are 3/4¢ higher at $3.75. July futures are 1/2¢ lower at $3.83. May soybean futures are 6¢ higher at $10.28.  July soybean futures are 5 3/4¢ higher at $10.39. May wheat futures are 4 1/2¢ higher at $4.55. May soy meal futures are $2.40 per short ton higher at $361.30. January soy oil futures are 0.29 lower at 31.77¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.54 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 110 points higher.

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At 9:00am:

In early trading, the May corn futures are 1/4¢ lower at $3.74. July futures are 1/2¢ lower at $3.82. May soybean futures are 3 3/4¢ higher at $10.26.  July soybean futures are 3 3/4¢ higher at $10.37. May wheat futures are 4¢ higher at $4.54. May soy meal futures are $0.70 per short ton higher at $359.30. January soy oil futures are 0.13 lower at 31.93¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.14 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 98 points higher.

 

Mike

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1 Reply
jec22
Veteran Advisor

Re: Floor Talk March 20

Is crude going up and corn going down because RFS is going to get cut?

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