At midsession:
At midsession, the May futures are 2 1/4¢ lower at $3.77. July futures are 2¢ lower at $3.87.
May soybean futures are 5¢ lower at $9.01 1/2. July soybean futures are 5 1/4¢ lower at $9.14 3/4.
May wheat futures are 3 3/4¢ higher at $4.73 1/2.
May soymeal futures are 3.10 per short ton lower at $312.00.
May soy oil futures are 0.10 lower at 28.72¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.24 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 171 points higher.Britt O'Connell, Cash Advisor for Commodity Risk Management Group, says that the farm markets remain without support.
“Grains are lower across the board this mid session and trading in a very narrow range. We would expect this continue for the balance of the week as traders position ahead of Friday's USDA planting intentions and WASDE report. Other than that it is a very quiet day by way of news in the trade,” O’Connell says.
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At 9:20am:
In early trading, the May futures are 1/4¢ lower at $3.79 1/2. July futures are 1/2¢ lower at $3.88 1/4.
May soybean futures are 3 1/4¢ lower at $9.03 1/4. July soybean futures are 3 1/4¢ lower at $9.16 3/4.
May wheat futures are 7¢ higher at $4.76 1/2.
May soymeal futures are 1.30 per short ton lower at $313.80.
May soy oil futures are 0.05 lower at 28.77¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.37 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 231 points higher.
Al Kluis, Kluis Advisors, says that investors are watching the corn market for trend direction.
“Will the bull spreads continue to improve for corn? The July 2019 to December 2019 spread has pulled in by 3 cents over the last two weeks. If that spread continues to improve, then it shows corn is shifting to a demand-driven market,” Kluis told customers in a daily note.
Mike
