At the close:
At the close, the May futures finished 3 1/2¢ lower at $3.73 3/4. July futures ended 3 1/2¢ lower at $3.83 1/2.
May soybean futures closed 13 1/4¢ lower at $8.87 1/2. July soybean futures closed 13 1/4¢ lower at $9.01.
May wheat futures finished 1/4¢ higher at $4.69 1/2.
May soymeal futures settled 6.60 per short ton lower at $304.40.
May soy oil futures finished 0.17 higher at 28.82¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.59 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 52 points lower.
Jack Scoville, PRICE Futures Group, says that investors are selling, before the Friday USDA Report comes out.
“But, soybeans also are dealing with a sharply lower Brazilian Real currency and corn with the weak ethanol data. The Real weakness could create some producer selling, but so far I am not seeing it. No news from China on a U.S. trade deal. And China says an agreement might take until May to get done. But progress still expected and maybe the outline of the agreement can become known soon,” Scoville says.
Scoville added, “Demand does not seem to be real strong. Some reports of cash moving here in the U.S. yesterday and early today, but not much talk that way since the market moved down.”
Mike
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At 12-Noon:
At midsession, the May futures are 4 1/4¢ lower at $3.73. July futures are 4 1/4¢ lower at $3.82 3/4.
May soybean futures are 13 3/4¢ lower at $8.87. July soybean futures are 13 3/4¢ lower at $9.00 1/2.
May wheat futures are 1/2¢ higher at $4.69 1/2.
May soymeal futures are 6.70 per short ton lower at $304.30.
May soy oil futures are 0.03 higher at 28.68¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.46 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 122 points lower.
Mike
