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marketeye
Veteran Advisor

Floor Talk May 18, 2021

At midsession:

At midsession, the July corn futures are 7 1/4¢ higher at $6.59 3/4. New crop September futures are 5 1/2¢ higher at $5.72. December corn futures are 6 1/2¢ higher at $5.43 3/4.

July soybean futures are 17 3/4¢ lower at $15.69 1/4. August soybean futures are 11¢ lower at $15.14. New crop November soybean futures are 5 1/4¢ lower at $13.91 3/4.

July wheat futures are 1 3/4¢ higher at $7.01 1/2.


July soymeal futures are $3.00 per short ton lower at $411.90.


July soy oil futures are $0.99 lower at 67.98¢ per pound.

In the outside markets, the NYMEX crude oil market is -1.76 lower (-2.66%) at $64.51. The U.S. dollar is lower, and the Dow Jones Industrials are 77 points higher (-0.23%) at 34,250 points.

Mike

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At 9am:

 

Double-digit gains for corn, soybean markets Tuesday.

 

CHINA BUYS 175.0 million bushels of U.S. CORN IN THREE BUSINESS DAYS. WOW!!!! And, China's total known U.S. corn commitments are now at 8.16 million tonnes (321 million bushels) for 2021/22.

 

Mike

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2 Replies
lsc76cat
Veteran Advisor

Re: Floor Talk May 18, 2021

“Corn planting is off to a near-record pace, but emergence is a concern in many areas of the southern and eastern Corn Belt where it is staying too wet. Watch emergence in the western and northern Corn Belt, where a lot of seed corn is lying in dry dirt,” Kluis stated in a note to customers. 

 

I'm paraphrasing here but last week wasn't it something like "planted into ideal conditions"?

I'm confused - but that doesn't take much these days!!

 

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cborman11
Senior Contributor

Re: Floor Talk May 18, 2021

Corn should be limit up but when you have complete idiots controlling prices it's not gonna happen. 

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