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marketeye
Veteran Advisor

Floor Talk May 19, 2021

At the close:

At the close, the July corn futures finished unchanged at $6.58 3/4. New crop September futures ended 4¢ lower at $5.67. December corn futures closed 4 1/4¢ lower at $5.39.

July soybean futures settled 36¢ lower at $15.38 1/4. August soybean futures finished 35 3/4¢ lower at $14.85 1/2. New crop November soybean futures ended 30 1/4¢ lower at $13.69.

July wheat futures settled 18 3/4¢ lower at $6.79 1/2.


July soymeal futures finished $7.60 per short ton lower at $403.20.


July soy oil futures closed $2.20 lower at 66.47¢ per pound.

In the outside markets, the NYMEX crude oil market is -2.17 lower (-3.31%) at $63.32. The U.S. dollar is higher, and the Dow Jones Industrials are 317 points lower (-0.93%) at 33,743 points.

Mike

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At midday:

At midsession, the July corn futures are 11 1/2¢ lower at $6.46 3/4. New crop September futures are 11 1/2¢ lower at $5.59. December corn futures are 12 3/4¢ lower at $5.31 3/4.

July soybean futures are 33 3/4¢ lower at $15.40 1/4. August soybean futures are 33 3/4¢ lower at $14.87. New crop November soybean futures are 32¢ lower at $13.67 3/4.

July wheat futures are 16 3/4¢ lower at $6.81 1/2.

July soymeal futures are $6.60 per short ton lower at $404.20.


July soy oil futures are $2.17 lower at 66.50¢ per pound.

In the outside markets, the NYMEX crude oil market is -2.07 lower (-3.16%) at $63.42. The U.S. dollar is higher, and the Dow Jones Industrials are 264 points lower (-0.78%) at 33,799 points.

 

Mike

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At 8:45am:

 

Soybeans plunge 36¢, corn drops 15¢ Wednesday

 

Mike

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5 Replies
nitefarm
Advisor

Re: Floor Talk May 19, 2021

Of course China has and probably will cancel previous purchases and roll why not no penalty and cheaper product because of the people that sets the price!

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cborman11
Senior Contributor

Re: Floor Talk May 19, 2021

This is ridiculous my god these traders are complete idiots. 

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timetippingpt
Honored Advisor

Re: Floor Talk May 19, 2021

You mean the traders that bought beans at $9 and are now selling them at $15.....yep.....pure idiots.

lsc76cat
Veteran Advisor

Re: Floor Talk May 19, 2021

Yep cb - complete idiots.  You should be able to jump right in and take 'em for every nickel they're worth!!

Given the rain we're seeing in the midwest this village idiot thought the market would go down.

Even the southwest got rain.

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nitefarm
Advisor

Re: Floor Talk May 19, 2021

I know that the traders can only make money when the markets move in their favor, what I don’t agree with is when a buyer can change a purchase agreement without suffering a penalty. 

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