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Veteran Advisor

Floor Talk, May 17, 2019

At the close:

 

At the close, the July corn futures finished 4 1/4¢ higher at $3.83 1/4. Dec. corn futures closed 1 3/4¢ higher at $3.98 1/4.

July soybean futures closed 18¢ lower at $8.21 1/2. November soybean futures settled 17 1/4¢ lower at $8.47 1/2.

 

July wheat futures closed 2¢ lower at $4.65.



 

July soymeal futures closed $7.60 per short ton lower at $294.30.

 July soy oil futures ended $0.50 cent lower at 27.22¢ per pound.



 

In the outside markets, the NYMEX crude oil market is $0.16 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 97 points lower.

 

Mike

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At 11:26am:

 

At midsession, the July corn futures are 3 3/4¢ higher at $3.82. Dec. corn futures are 2 1/2¢ higher at $3.98.

July soybean futures are 12 1/4¢ lower at $8.27 1/2. November soybean futures are 12 1/4¢ lower at $8.52 1/2.

 

July wheat futures are 1 1/4¢ higher at $4.68.



 

July soymeal futures are $5.40 per short ton lower at $296.50.

 July soy oil futures are $0.39 cent lower at 27.33¢ per pound.



 

In the outside markets, the NYMEX crude oil market is $0.21 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 5 points higher.

 

Mike

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At 10:00am:

 

In early trading, the July corn futures are 3¢ higher at $3.82. Dec. corn futures are 2 1/2¢ higher at $3.99.

July soybean futures are 10 1/4¢ lower at $8.29 1/2. November soybean futures are 10 1/4¢ lower at $8.54 1/2.

 

July wheat futures are 1/2¢ lower at $4.66 1/2.



 

July soymeal futures are $4.90 per short ton lower at $297.00.

 July soy oil futures are $0.28 cent lower at 27.44¢ per pound.



 

In the outside markets, the NYMEX crude oil market is $0.08 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 79 points lower.

 

Al Kluis, Kluis Advisors, says that producers should take advantage of what the market is offering.

 

“Planting progress is rolling along very nicely. However, expect that to come to a screeching halt this weekend for much of the western Corn Belt,” Kluis told customers in a daily note.

 

Kluis added, “Producers need to consider buying some put options on this 10% market rally that we have had in the corn market. We are entering a very volatile time of the year. If the weather forecasts change, we could be down hard.”

 

Thanks,

 

Mike

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5 Replies
Veteran Advisor

Re: Floor Talk, May 17, 2019

Seriously, maybe need to call him Klueless Kluis.  Of course, he is right in one regard. No matter how short this crop is, price will not reflect it until after harvest...and that will be extra late this year.  ...  and when will it be fit to start replant 2019.

 

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Senior Contributor

Re: Floor Talk, May 17, 2019

Did anyone on this site read and look at the article on planting progress maps per state.? Indiana, Illinois, Missouri, Ohio, Minnesota, Iowa, and more nobody planting and nothing done. Single digits progress and what was planted a month ago still not up. Not good fellas wake up!!!
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Veteran Advisor

Re: Floor Talk, May 17, 2019

illini - not a true statement for our area. (SCMN)

While not ideal conditions, alot of seed went in the ground this week.

We shifted some low ground acres to beans and higher ground to corn to get to what acreage we planned for.

Corn that I planted 9 days ago is up.  Some of it might get drowned this weekend tho.Smiley Frustrated

 

Quite a sight when the coop's 4WD/anhydrous applicator meets the neighbors 24 row planter on

the county road with not much for shoulders!!Smiley Surprised

 

 

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Senior Contributor

Re: Floor Talk, May 17, 2019

Plant in the mud you have a dud
Ran out of tiled ground and that’s what I am doing raining as I write
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Esteemed Advisor

Re: Floor Talk, May 17, 2019

Well spoken huggy

That is one fact beyond a reasonable doubt, at least for corn and soy, a strong

data point for using a 164 nat yield, not 175 for goodness sakes.

 

Planting progress "rolling along nicely". Glad to hear someone was getting

something done. Best feeling in the world is laying corn seed in the ground

in to perfect conditions in late April/early May. Smiley Frustrated

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