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marketeye
Veteran Advisor

Floor Talk March 22, 2021

At the close:

At the close, the May corn futures finished 8 1/2¢ lower at $5.49. July corn futures settled 7 1/4¢ lower at $5.31. New crop December corn futures closed 3 1/2¢ lower at $4.68.

May soybean futures closed 1 1/4¢ higher at $14.17 1/2. July soybean futures closed 1¢ higher at $14.04 1/2. New crop November soybean futures ended 4¢ lower at $12.16.

May wheat futures closed 1/4¢ higher at $6.27.


May soymeal futures closed $11.30 short term lower at $396.40.


May soy oil futures closed 2.40¢ higher at 56.37¢ per pound.

In the outside markets, the NYMEX crude oil market is +0.07 higher (+0.11%) at $61.49. The U.S. dollar is lower, and the Dow Jones Industrials are 163 points higher (+0.50%) at 32,791 points.

 

Mike

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At midsession:

At midsession, the May corn futures are 8 1/2¢ lower at $5.49. July corn futures are 6 3/4¢ lower at $5.32. New crop December corn futures are 4 3/4¢ lower at $4.66 1/4.

May soybean futures are 5 3/4¢ lower at $14.10 1/2. July soybean futures are 4 3/4¢ lower at $13.98 1/2. New crop November soybean futures are 8 1/4¢ lower at $12.11.

May wheat futures are unchanged at $6.27.


May soymeal futures are $8.20 short term lower at $399.70.


May soy oil futures are $1.54 higher at 55.41¢ per pound.

In the outside markets, the NYMEX crude oil market is +0.00 higher (+0.00%) at $61.42. The U.S. dollar is lower, and the Dow Jones Industrials are 72 points higher (+0.22%) at 32,700 points.

Mike

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At 8:50am:

 

Spring trading begins lower in the ag markets.

 

Mike

 

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8 Replies
cborman11
Senior Contributor

Re: Floor Talk March 22, 2021

Huge corn sales and the traders put their heads up their assess 

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roarintiger1
Honored Advisor

Re: Floor Talk March 22, 2021

Obviously, there is no need to ration supplies any further.

Don’t worry, be happy. 

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Hobbyfarmer
Honored Advisor

Re: Floor Talk March 22, 2021

I don't want it rationed.

I'm in the business of prodicing the stuff as fast, as economicly, and as much as I can. 

I want it used up before my next production cycle.

Can only help the profitability if there are no excess scraps left from previous production cycles.

Just the opposite is true from a users viewpoint.

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Hobbyfarmer
Honored Advisor

Re: Floor Talk March 22, 2021

Things to look forward to.

 

Grain Stocks/Prospective Plantings (3/31);

Census Crush (4/1);

Good Friday, Markets Closed (4/2);

1st 2021 Crop Progress Report (4/5);

US Trade Balance (4/7):

April WASDE (4/9);

NOPA Crush (4/15)

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ray h.
Senior Contributor

Re: Floor Talk March 22, 2021


@roarintiger1 wrote:

Obviously, there is no need to ration supplies any further.

Don’t worry, be happy. 


The traders are knocking the wheat in the head because the southern plains are getting much needed moisture. Are they just getting in position to drop the frost ball, or is there actually no frost damage?

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clayton58
Veteran Advisor

Re: Floor Talk March 22, 2021

Are they just getting in position to drop the frost ball, or is there actually no frost damage?  I'll offer my opinion on that, with this disclaimer.  It is worth what you paid for it, at most, and could be far less valuable, but here goes.  I see very little , if any frost/freeze damage.  I have not looked at heads yet, but should soon be able to find some on the earlier wheat.  further south from here?  Maybe, but doubtful, IMO.  We are not past the point of risk for frost damage, should we get another cold spell or late freeze.  but for now the wheat  appears to be on track for a good crop.

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Wind
Advisor

Re: Floor Talk March 22, 2021

Yes, and it looks like KS in receiving some very nice rains.  My understanding  wheat is a crop that can easily round third and be thrown out at home.

Light rain here this AM

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Hobbyfarmer
Honored Advisor

Re: Floor Talk March 22, 2021

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