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marketeye
Veteran Advisor

Floor Talk May 25, 2021

At the close:

At the close, the July corn futures closed 37¢ lower at $6.20 1/4. New crop September futures settled 27 1/4¢ lower at $5.41 1/4. December corn futures closed 24 1/2¢ lower at $5.15 1/4.

July soybean futures settled 11 1/2¢ lower at $15.11 1/4. August soybean futures closed 10 3/4¢ lower at $14.60 3/4. New crop November soybean futures ended 15¢ lower at $13.47 1/2.

July wheat futures closed 5 3/4¢ lower at $6.56 1/4.

July soymeal futures finished $13.90 per short ton lower at $386.30.


July soy oil futures settled $1.56 higher at 66.69¢ per pound.

In the outside markets, the NYMEX crude oil market is +0.07 higher (+0.11%) at $66.12. The U.S. dollar is lower, and the Dow Jones Industrials are 31 points lower (-0.09%) at 34,362 points.

 

 

Mike

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Prices reverse, big time

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At midsession:

At midsession, the July corn futures are 31 1/4¢ lower at $6.26. New crop September futures are 23 3/4¢ lower at $5.44 1/4. December corn futures are 20¢ lower at $5.20 1/4.

July soybean futures are 18 1/2¢ lower at $15.04 1/4. August soybean futures are 17 3/4¢ lower at $14.53 3/4. New crop November soybean futures are 21 3/4¢ lower at $13.40 1/2.

July wheat futures 12¢ lower at $6.50 1/4.

July soymeal futures are $13.40 per short ton lower at $386.80.


July soy oil futures are $0.82 higher at 65.95¢ per pound.

In the outside markets, the NYMEX crude oil market is -0.06 lower (-0.09%) at $65.99. The U.S. dollar is lower, and the Dow Jones Industrials are 57 points lower (-0.17%) at 34,336 points.

PJ Quaid, independent broker, says that China's announcement Monday that it issued a “zero tolerance” warning to commodity speculators on Monday is sending a negative message to asset markets.

"China is trying to reign in commodity prices. Plus, favorable crop weather has really thrown a wet blanket on this market. Trade volume is very very low," Quaid says.

Mike

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At 8:45am:

Soybeans jump double-digits Tuesday.

 

Mike

 

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3 Replies
cborman11
Senior Contributor

Re: Floor Talk May 25, 2021

Wow trader greed is alive and well in the corn market. 

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illinifarmer
Advisor

Re: Floor Talk May 25, 2021

Starting to lose our patience with this nonsense.  C r o o k s , can’t keep grain long enough theUS has to buy it and now these guys are making it cheaper to just give it away.  

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sw363535
Honored Advisor

Re: Floor Talk May 25, 2021

JP Quaid.   Says “China is trying to rein in commodity prices” 

 That is trader “hockey puck”.......... 

If China wanted to lower commodity prices they could stop buying and find something else to with their pile of dollars.  And stop pretending they can demand lower prices.  Or they can plant more acres and actually produce  What they claim they do.  

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