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Veteran Advisor

Floor Talk March 22

At the close:

At the close, the May corn futures settled 1/2 of a cent higher at $3.70. May soybean futures closed 8 1/4 cents higher at $9.10 1/4. 
May wheat futures closed 1/4 of a cent higher at $4.66. May soymeal futures finished $2.20 per short ton higher at $271.00. May soyoil futures closed $0.35 higher at $33.93.  
In the outside markets, the Brent Crude oil market is $0.06 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 12 higher.

 

Mike

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At mid-session:

At mid-session, the May corn futures are trading 1 1/4 cents higher at $3.70 3/4. May soybean futures are 9 cents higher at $9.11. 
May wheat futures are trading 1/2 of a cent higher at $4.67. May soymeal futures are $3.10 per short ton higher at $271.90. May soyoil futures are trading $0.27 higher at $33.85.  
In the outside markets, the Brent Crude oil market is $0.05 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 30 higher.

 

Mike North, President Commodity Risk Management Group, says that the soybean market is rallying from two supportive factors. "The reality of this move in recent weeks has been the rising energy market coupled with short covering by funds ahead of the report.  Soybeans have also gleaned mild support by extra wetness in the Delta."

 

Mike

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At the open:

At the open, the May corn futures are trading 1/4 of a cent higher at $3.69. May soybean futures are 2 3/4 cents higher at $9.04. 
May wheat futures are trading 3/4 of a cent higher at $4.67. May soymeal futures are $0.50 per short ton higher at $269.30. May soyoil futures are trading $0.20 higher at $33.78.  
In the outside markets, the Brent Crude oil market is $0.25 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 64 lower.

 

Mike

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Veteran Advisor

Re: Floor Talk March 22

Wow! The funds bought 10,000 soybean futures contracts Tuesday. I'd say that is some buying interest, ry ter.

 

Mike

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