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marketeye
Veteran Advisor

Floor Talk May 24, 2021

At the close:

At the close, the July corn futures settled 2 1/4¢ lower at $6.57 1/2. New crop September futures ended 4 3/4¢ lower at $5.68. December corn futures closed 6 1/4¢ lower at $5.40 1/4.

July soybean futures closed 3 1/2¢ lower at $15.22 1/4. August soybean futures closed 1 1/4¢ lower at $14.71. New crop November soybean futures settled 1 3/4¢ higher at $13.62 1/2.

July wheat futures closed 12¢ lower at $6.62 1/4.

July soymeal futures closed $1.30 per short ton higher at $400.20.


July soy oil futures are $0.36 lower at 65.13¢ per pound.

In the outside markets, the NYMEX crude oil market is +2.42 higher (+3.81%) at $66.00. The U.S. dollar is lower, and the Dow Jones Industrials are 245 points higher (+0.72%) at 34,452 points.

Mike

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At midsession:

At midsession, the July corn futures are 4¢ lower at $6.55 1/2. New crop September futures are 8 1/4¢ lower at $5.65. December corn futures are 15 1/4¢ lower at $5.36.

July soybean futures are 9 1/2¢ lower at $15.16 1/4. August soybean futures are 6 1/4¢ lower at $14.66. New crop November soybean futures are 4 3/4¢ lower at $13.55 1/2.

July wheat futures are 13¢ lower at $6.60 1/4.

July soymeal futures are $0.30 per short ton lower at $398.60.

July soy oil futures are $0.09 lower at 65.40¢ per pound.

In the outside markets, the NYMEX crude oil market is +1.87 higher (+2.94%) at $65.45. The U.S. dollar is lower, and the Dow Jones Industrials are 178 points higher (+0.52%) at 34,305 points.

 

Mike

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At 8:45am:

 

Corn, soybean prices fall Monday.

 

Mike

 

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5 Replies
cborman11
Senior Contributor

Re: Floor Talk May 24, 2021

Just love how the huge sales last week get totally ignored by these idiot traders. 

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illinifarmer
Advisor

Re: Floor Talk May 24, 2021

Now weather matters when it benefits the profit takers. Brazil still has some serious crop issues the US continues making record sales and the outside markets are booming.  I’m remaining optimistic on the future for this market only upside potential.

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BA Deere
Honored Advisor

Re: Floor Talk May 24, 2021

I think this is just a little over reaction to a little bit of rain, the demand is there.  That said, there`s a potentially really good crop out there.

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sw363535
Honored Advisor

Re: Floor Talk May 24, 2021

Spoiler
Just drove south side of Ks. Only saw 2 corn fields emerged past two leaves

Wheat looks decent but is hard to find.  When you reduce acres near 70% since 2000 only good wheats left

lots of questionable fields in Ks.  Wheat, Rye, cheat grass mixers.  Too late to graze out .   Pratt sale barn consignments show as many cattle off rye as wheat.  

rickgthf
Senior Advisor

Re: Next stop, June Acres report

Unless we get derailed before then.

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