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Advisor
Posts: 4,058
Registered: ‎05-03-2010
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Floor Talk March 27

[ Edited ]

At mid-session:

The May corn futures contract is trading 8 cents higher at $4.92. The Dec. corn futures are trading 4 3/4 cents higher at $4.88. The May soybean futures contract is 1/2 of a cent lower at $14.39. May wheat futures are 10 cents higher at $7.06 per bushel. The May soymeal futures contract is trading $1.50 per short ton higher at $470.60. The May soyoil futures are trading $0.11 lower at $40.62.
In the outside markets, the Brent crude oil is $0.77 per barrel higher, the dollar is higher and the Dow Jones Industrials are 42 points lower.

 

Mike

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In early trading:

 

At the open:

The May corn futures contract is trading 3 cents higher at $4.87. The Dec. corn futures are trading 1 cent higher at $4.85. The May soybean futures contract is 1 1/4 cents lower at $14.38. May wheat futures are 2 cents lower at $6.94 per bushel. The May soymeal futures contract is trading $1.60 per short ton higher at $470.70. The May soyoil futures are trading $0.09 lower at $40.64.
In the outside markets, the Brent crude oil is $0.49 per barrel higher, the dollar is higher and the Dow Jones Industrials are 44 points lower.

 

 

Mike

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At 8am:

USDA Weekly Export Sales were released Thursday. Corn beats big-time:

 

Corn=1.438 million tons vs. the trade's expectations of 625,000 metric tons (mt).

Soybeans= 546,800 tons vs. the trade's expectations of 175,000mt old and 800,000 mt.

Wheat=728,000 tons vs. the trade's expectations of 410,000 mt.

 

 

Mike

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At 7:52am:

Early calls: Corn is seen 1-2 cents higher, soybeans 3-5 cents higher, and wheat 3-4 cents lower.

Trackers:
Overnight grain, soybean markets=Trading mostly lower.

NYMEX Crude Oil=$0.33 per barrel higher.
Dollar=Higher.

Wall Street=Seen mixed.

World Markets=Asia/Pacific stocks were lower, Europe stocks were lower.

 


More in a minute,

 

Mike

Senior Advisor
Posts: 2,571
Registered: ‎05-13-2010
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Re: Floor Talk March 27

Those exports are VERY good and really reinforcing the trends.
Highlighted
Senior Contributor
Posts: 398
Registered: ‎05-04-2010
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Re: Floor Talk March 27

[ Edited ]

WHY do these people keep buying corn.... Don't they know that the "EXPERTS" said they wouldn't...... Really making the bears a little uncomfortable Id think..... p-oed

 

PS.... I remember last fall when the talking heads were saying we would not even export a bil bu of corn this marketing yr.....GEESH