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Veteran Contributor

Floor Talk May 18

At the close:

At the close, the July corn futures settled 7 1/4¢ higher at $4.02. December futures ended 7 1/2¢ higher at $4.20 3/4. July soybean futures finished 3 1/2¢ higher at $9.98 1/2.  November soybean futures closed 4¢ higher at $10.08 1/4. July wheat futures closed 20 3/4¢ higher at $5.18 1/4. July soy meal futures finished $1.20 per short ton higher at $376.30. July soy oil futures closed 0.04 higher at 30.98¢ 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 16 points higher.

 

Mike

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At mid-session:

At mid-session, the July corn futures are 7 1/2¢ higher at $4.02. December futures 7¢ higher at $4.20. July soybean futures are 1 1/2¢ higher at $9.96.  November soybean futures are 2 1/2¢ higher at $10.06. July wheat futures are 17¢ higher at $5.14. July soy meal futures are $0.40 per short ton higher at $375.50. July soy oil futures are 0.18 higher at 31.12¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.41 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 17 points higher.

 

Mike

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At 9:00am:

In early trading, the July corn futures are 6¢ higher at $4.01. December futures 6¢ higher at $4.19. July soybean futures are 4¢ higher at $9.99.  November soybean futures are 4 1/4¢ higher at $10.08. July wheat futures are 7 3/4¢ higher at $5.05. July soy meal futures are $2.80 per short ton higher at $377.80. July soy oil futures are 0.14 higher at 31.08¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.01 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 1 points higher.

 

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

--Cancellations of export sales of 949,000 metric tons of soybeans for delivery to unknown destinations.  Of the total 829,000 metric tons is for delivery during the 2017/2018 marketing year and 120,000 metric tons is for delivery during the 2018/2019 marketing year; and

--Export sales of 168,000 metric tons of soybeans for delivery to unknown destinations.  Of the total 56,000 metric tons is for delivery during the 2017/2018 marketing year and 112,000 metric tons is for delivery during the 2018/2019 marketing year.

The marketing year for soybeans began Sept. 1.

.

 

Mike

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Soybeans and grains surged in overnight trading after China said it would scrap an anti-dumping inquiry into US sorghum. The ongoing trade dispute between the US and China has calmed recently, leading some to believe that China won't impose duties on US soybeans and other ag products as it had threatened. Beans were up a dime, wheat gained 8-9 cents and corn was up 6 cents. Export sales of corn rose week-to-week while sales of soybeans declined. China was again absent from the list of countries that bought US soybeans. In weather news, thunderstorms continue to roll east from Iowa into Illinois. Storms are also present in the southern Plains, which may lead to flooding or even a potential tornado, the National Weather Service said. Check out all the details in today's 3 Big Things

 

West Texas Intermediate = up 0.6%.

Brent Crude = up 0.2%

Dollar = up 0.1%.

Wall Street = U.S. stock lower pre-market.

World Markets = Global stocks mixed overnight.

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Veteran Advisor

Re: Floor Talk May 18

This watching day-by-day trading is about as useful to farmers marketing as it is to guess winter weather by counting fuzzy caterpillars.....oh, some people actually believe that (with no basis in scientific fact, but, hey, what does reality have to do with anything?)

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Esteemed Advisor

Re: Floor Talk May 18

Very well said Jim. 

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Veteran Advisor

Re: Floor Talk May 18

The real money is not in day trading, it is in long term trading.
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Honored Advisor

Re: Floor Talk May 18

No mention of the higher markets today.   Geez........this isn't like ANY Trump good news that the media ignores........or, is it?    

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