At the close:
At the close, the May corn futures finished 4 3/4¢ lower at $3.41 1/4. July corn futures settled 4 1/4¢ lower at $3.47.
May soybean futures closed 3/4¢ higher at $8.82 1/4. July soybean futures settled 1 1/4¢ higher at $8.86 1/4.
May wheat futures closed 1 3/4¢ lower at $5.69 3/4.
May soymeal futures finished $2.40 per short ton higher at $325.50.
May soy oil futures closed $0.02 cents higher at 26.87¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.99 per barrel lower at a 18-year low of $19.52, the U.S. dollar is higher, and the Dow Jones Industrials are 457 points higher.
Mike
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At midsession:
At midsession, the May corn futures are 5¢ lower at $3.41. July corn futures are 4 1/4¢ lower at $3.47.
May soybean futures are 1/2¢ higher at $8.82. July soybean futures are 1/2¢ higher at $8.85 1/4.
May wheat futures are 5 1/4¢ lower at $5.65 3/4.
May soymeal futures are $1.20 per short ton higher at $324.30.
May soy oil futures are $0.17 cents higher at 27.02¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.22 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 394 points higher.
Mike
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At 9am:
In early trading, the May corn futures are 1 1/2¢ lower at $3.44 3/4. July corn futures are 1 1/2¢ lower at $3.50 3/4.
May soybean futures are 4 1/4¢ higher at $8.85 1/4. July soybean futures are 4 1/2¢ higher at $8.89 1/4.
May wheat futures are 4 1/4¢ higher at $5.75 3/4.
May soymeal futures are $3.50 per short ton higher at $326.60.
May soy oil futures are $0.23 cents higher at 27.08¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.25 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 93 points higher.
On Monday, private exporters reported to the USDA export sales of 285,000 metric tons of soybeans for delivery to Mexico during the 2020/2021 marketing year.
The marketing year for soybeans began Sept. 1.
Al Kluis, Kluis Advisors, says that investors will be watching tomorrow's USDA's March Planting Intentions Report.
“The USDA report may show larger corn and soybean inventories than the trade is expecting. This report has been a bearish surprise in 4 of the last 5 years. Gasoline futures are down 5 cents and that is putting pressure on the corn market." Kluis told customers in a daily note.
Kluis added, "Will workers at the main grain exporting terminals of Argentina and Brazil refuse to go to work? A lot of export business will need to shift back to the US for corn, soybeans, and soybean meal. And what will happen with crude oil futures? The chart showed an inside week last week. Taking out last week's high is a positive sign for energy and commodity prices, but taking out the low is bearish for both."
What say you, shout it out,
Mike
