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Tony_Dreibus
Veteran Contributor

Floor Talk May 22

At the close:

At the close, the July corn futures settled 2 1/2¢ higher at $3.75, while December futures finished 2 1/2¢ higher at $3.92. July soybean futures closed 3 1/2¢ higher at $9.56 1/2, November soybean futures finished 4 1/2¢ higher at $9.56 1/4. July wheat futures closed 1¢ lower at $4.34 1/4. July soy meal futures finished $0.80 per short ton higher at $307.80. July soy oil futures finished $0.10 lower at 32.94¢ per pound.  In the outside markets, the Brent crude oil market is $0.48 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 86 points higher.

 

Mike

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At mid-session:

At mid-session, the July corn futures are 4 1/4¢ higher at $3.76, while December futures are 4¢ higher at $3.94. July soybean futures are 6 1/4¢ higher at $9.59, November soybean futures are 6 1/2¢ higher at $9.58. July wheat futures are 6 1/2¢ higher at $4.41. July soy meal futures are $1.70 per short ton higher at $308.70. July soy oil futures are $0.10 higher at 33.14¢ per pound.  In the outside markets, the Brent crude oil market is $0.43 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 97 points higher.

 

Mike

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At the open:

In early trading, the July corn futures are 2¢ higher at $3.74, while December futures are 2 3/4¢ higher at $3.92. July soybean futures are 3¢ higher at $9.56, November soybean futures are 3 1/4¢ higher at $9.55. July wheat futures are 4¢ higher at $4.39. July soy meal futures are $0.80 per short ton higher at $307.80. July soy oil futures are $0.13 higher at 33.17¢ per pound.  In the outside markets, the Brent crude oil market is $0.35 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 86 points higher.

 

Mike

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Wheat was higher as more and more reports of wheat streak mosaic in the hard red winter wheat crop roll in while corn and beans were little changed in overnight trading. Wheat futures were up 4-5 cents while corn gained just over a penny and beans rose 3 cents.

 

Money manangers didn't do much last week, increasing their net-short positions in soybeans while reducing them in corn, but only slightly on both. Wheat saw a bigger change with investors reducing their bullish bets on hard-red winter wheat due to a lack of news about the late-April snowstorm. This wheat streak mosaic problem, however, could bring the bulls back into the market. Check out all the action in 3 Big Things at http://www.agriculture.com/news/crops/3-big-things-today-may-22. 

 

Here's what happened overnight:

 

Brent Crude Oil = up 0.9%.  

West Texas Intermediate Crude Oil = up 1%. 

Dollar = down 0.2%.

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

World Markets = Global stocks higher on rising oil prices. 

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2 Replies
sw363535
Honored Advisor

Re: Floor Talk May 22

thank you tony

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Tony_Dreibus
Veteran Contributor

Re: Floor Talk May 22

Thanks for reading. Kind of quiet around these parts lately. 

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