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4 weeks ago - last edited 3 weeks ago
At the close:
At the close, the July corn futures finished 6¢ higher at $3.68 1/2. Sept. corn futures closed 5 3/4¢ higher at $3.76 1/4.
July soybean futures settled are 2 1/4¢ lower at $8.51 3/4. Aug. soybean futures finished are 2¢ lower at $8.58.
July wheat futures ended 7 1/4¢ higher at $4.36.
July soymeal futures ended $0.20 per short ton higher at $300.30. July soy oil futures settled $0.23 cent lower at 27.65¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.25 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 20 points higher.
At midsession, the July corn futures are 3/4¢ higher at $3.63. Sept. corn futures are 3/4¢ higher at $3.71.
May soybean futures are 8 1/4¢ lower at $8.33. July soybean futures are 8 1/4¢ lower at $8.45 3/4.
July wheat futures are 4 1/4¢ higher at $4.33.
July soymeal futures are $2.00 per short ton lower at $298.10. July soy oil futures are $0.26 cent lower at 27.62¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.85 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 58 points higher.
In early trading, the July corn futures are 3¢ higher at $3.65 1/2. Sept. corn futures are 3¢ higher at $3.73 1/2.
May soybean futures are 4 1/4¢ lower at $8.37. July soybean futures are 4 1/4¢ lower at $8.49 3/4.
July wheat futures are 6 1/2¢ higher at $4.35 1/4.
July soymeal futures are $0.60 per short ton lower at $299.50. July soy oil futures are $0.15 cent lower at 27.73¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.06 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 33 points higher.
Al Kluis, Kluis Advisors, says that the market is holding on to a theme involving outside investors.
“Corn spreads have stabilized since the lows hit last week. Keep an eye on the December 2019 vs July 2020 spread. I think a string of higher highs and higher lows on the spread would trigger some fund managers to reevaluate their record short position,” Kluis told customers in a daily note.
Kluis added, “With a wet 6-to-10 day forecast, it is hard to imagine spring wheat will get planted in ideal conditions. Spring wheat areas in North Dakota are still covered in snow.”
What say you?
4 weeks ago - last edited 4 weeks ago
Rain....er Snow....makes grain...everyone knows
What will be more entertaining, and you can count on it,
a shift to better weather will cause a selloff. It didn't go up
on bad weather, but you can be assured it will go down
on better weather.
Another good one I heard, "same pace as last year and
last year we grew a record crop." Just pure stupidity,
in ag everyone knows that this year is NEVER like last
year, ever. Besides, soil temps were 20 degrees higher
last year on the same date with the same planting progress.
Just saying it is dumb to use that rationale, of course they
will be right in the short-term when the weather forecast
looks even a little better. There will be huge headlines,
3 weeks ago
another of my farmer freinds posted the tariff deal is a train wreck. i tend to agree. It has taken approx one year to destroy markets that has taken a decade and a half to build. hopefully the negotiating team will get as good of a deal as they say but meanwhile china is buying from everyone else. It wont matter much to me if china wins the trade war if i lose all equity that has taken a lifetime to build.
The negotiating team is going to start to try and open markets in japan and europe! Now that is funny! They will never let our farm products overwhelm their food system! They will never make their farmers go broke. That would make penniless farmers move into already ivercrowded cities that dont have employment for them. and would put pressure on their welfare system. We wouldnt like it if a country tried to make us change if we didnt want to