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Veteran Contributor

Floor Talk March 8

At the close:

At the close, the May corn futures settled 1 1/2 cents higher at $3.60. May soybean futures closed 2 3/4 cents higher at $8.84 1/2. 
May wheat futures closed 2 1/2 cents higher at $4.65 1/4. May soymeal futures closed $1.70 per short ton higher at $272.80. May soyoil futures are trading $0.03 lower at $31.14.  
In the outside markets, the Brent Crude oil market is $1.23 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 53 lower.

 

Mike

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At mid-session:

At mid-session, the May corn futures are trading 2 1/2 cents higher at $3.61. May soybean futures are 2 cents higher at $8.83. 
May wheat futures are trading 2 cents higher at $4.64. May soymeal futures are $1.70 per short ton higher at $272.80. May soyoil futures are trading $0.19 lower at $30.98.  
In the outside markets, the Brent Crude oil market is $1.07 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 77 lower.

Jason Roose, U.S. Commodities, says that short-covering continues to support the markets.
“Nice short covering ahead of tomorrow's crop report, with managed funds record short, not a surprise to see some buying and profits, weak dollar also supporting the market short term. The crop report will need to show some kind of reduction in ending stocks on the grains to continue the rally,” Roose says.

 

Mike

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If you missed it:

The USDA announced fresh export soybeans sales Tuesday.

Private exporters reported to the U.S. Department of Agriculture the following activity:

--Export sales of 110,000 metric tons of soybeans for delivery to China during the 2016/2017 marketing year; and

--Export sales of 140,000 metric tons of soybeans for delivery to unknown destinations.  Of the total 70,000 metric tons for delivery during the 2015/2016 marketing year and 70,000 metric tons for delivery during the 2016/2017 marketing year.

The marketing year for soybeans began Sept. 1.

 

Mike

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At the open:

At the open, the May corn futures are trading 2 cents lower at $3.57. May soybean futures are 3 cents lower at $8.78. 
May wheat futures are trading 3 cents lower at $4.59. May soymeal futures are $0.60 per short ton lower at $270.50. May soyoil futures are trading $0.16 lower at $31.01.  
In the outside markets, the Brent Crude oil market is $0.32 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 87 lower.

 

Mike

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Good morning. 

 

Corn, beans and wheat were all lower overnight ahead of tomorrow's WASDE report. Investors likely dumped their long positions as corn is up slightly on the month, beans have gained 2% and wheat is up 3%. 

  

At 6:15 am:

 

Brent Crude Oil = 0.2% lower.

West Texas Intermediate Crude Oil = 0.3% lower. 

Dollar = up 0.1%.

Wall Street = U.S. stock futures slightly lower in pre-market trading. 
World Markets = Global stocks lower on weaker oil, concerns about European Central Bank meeting this week. 

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Honored Advisor

Re: Floor Talk March 8

Spring has sprung,  the frogs started singing yesterday afternoon.

 

The maple trees budded out, quit running sap and the taps have been pulled. Last batch should be done in about a hour.

 

The naked ladies, tulips, and crocus are up.

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Honored Advisor

Re: Floor Talk March 8

20-30 degrees above normal will do that.    Heading to the beach next week.........hope to see some of that when I'm there. Smiley Wink

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Veteran Advisor

Re: Floor Talk March 8

RT = Don't forget your bucket/shovel.

Here's my "little buddy" (4 yr old grandson) on South Padre yesterday.

Little Buddy.jpg

 

They tell me temps have been running above normal down there too.

If this warm weather continues we'll see how many plant ahead of the insurance date.

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Veteran Advisor

Re: Floor Talk March 8

Might be a bit too chilly down here today for the
Naked ladies


I'll let you know when they are out and about...
If I'm quick....maybe I'll get some pictures !!!!
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