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Tony_Dreibus
Veteran Contributor

Floor Talk May 12

At the close:

At the close, the July corn futures settled 1/4¢ lower at $3.69, while December futures finished 1 1/2¢ higher at $3.88 3/4. July soybean futures finished 3 1/4¢ lower at $9.63, November soybean futures finished 4 1/4¢ lower at $9.59 3/4. July wheat futures closed 1¢ lower at $4.32 3/4. July soy meal futures finished $1.60 per short ton lower at $313.30. July soy oil futures closed $0.35 higher at 32.84¢ per pound.  In the outside markets, the Brent crude oil market is $0.13 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 38 points lower.

 

Mike

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At mid-session:

At mid-session, the July corn futures are 1/4¢ lower at $3.69, while December futures are 1/4¢ lower at $3.87. July soybean futures are 2 1/4¢ lower at $9.64, November soybean futures are 3 1/4¢ lower at $9.60. July wheat futures are 1/2¢ lower at $4.33. July soy meal futures are $1.40 per short ton lower at $313.50. July soy oil futures are $0.34 at 32.83¢ per pound.  In the outside markets, the Brent crude oil market is $0.13 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 31 points lower.

 

Mike

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At the open:

In early trading, the July corn futures are 1/4¢ lower at $3.69, while December futures are 1/4¢ lower at $3.87. July soybean futures are 5¢ lower at $9.61, November soybean futures are 4 3/4¢ lower at $9.59. July wheat futures are 1¢ lower at $4.32. July soy meal futures are $1.20 per short ton lower at $313.70. July soy oil futures are unchanged at 32.49¢ per pound.  In the outside markets, the Brent crude oil market is $0.06 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 22 points lower.

 

Mike

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Soybeans were slightly lower in overnight trading as the Brazil crop keeps getting bigger. The country's statistics agency Conab raised its outlook to 113 million metric tons, up from just north of 110 million tons last month. The weather down there is good and growers don't seem to be having a lot of problems. Beans lost about 3 cents in overnight trading. Corn was unchanged and wheat was little changed. Looks like it might actually not rain for once in the Midwest this weekend. The first chance for storms in northern Illinois and Indiana is next Monday evening, though the  National Weather Service said it's only a small chance of rain. Fingers crossed it'll be dry enough to get some planters rolling. 
 

Here's what happened overnight:

 

Brent Crude Oil = up 0.1%.  

West Texas Intermediate Crude Oil = up 0.2%. 

Dollar = unchanged.

Wall Street = U.S. stock futures lower in pre-market trading.

World Markets = Global stocks higher on commodity rout. 

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