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marketeye
Veteran Advisor

Floor Talk May 3, 2021

At the close:

At the close, the July corn futures settled 6 1/4¢ higher at $6.79 1/2. New crop September futures finished 1/2¢ lower at $5.91. December corn futures settled 3/4¢ lower at $5.63.

July soybean futures ended 10 1/4¢ lower at $15.24. August soybean futures closed 4 1/4¢ lower at $14.67. New crop November soybean futures are 5¢ higher at $13.44 1/4.

July wheat futures finished 16 1/4¢ lower at $7.18 3/4.

July soymeal futures closed $11.00 short ton lower at $415.10.


July soy oil futures finished +0.67 higher at 63.06¢ per pound.

In the outside markets, the NYMEX crude oil market is +0.94 higher (+1.08%) at $64.52. The U.S. dollar is lower, and the Dow Jones Industrials are 300 points higher (+0.89%) at 34,175 points.

 

Mike

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At midsession:

At midsession, the July corn futures are 6 1/4¢ higher at $6.79 1/2. New crop September futures are 3/4¢ lower at $5.91. December corn futures are 3/4¢ lower at $5.63.

July soybean futures are 11¢ lower at $15.22 3/4. August soybean futures are 7 3/4¢ lower at $14.64 1/4. New crop November soybean futures are 2 3/4¢ lower at $13.37 1/4.

July wheat futures are 10 1/4¢ lower at $7.24 3/4.

July soymeal futures are $6.70 short ton lower at $419.40.


July soy oil futures are +0.42 lower at 61.97¢ per pound.

In the outside markets, the NYMEX crude oil market is +0.66 higher (+1.04%) at $64.24. The U.S. dollar is lower, and the Dow Jones Industrials are 311 points higher (+0.92%) at 34,185 points.

 

Mike

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At the open:

Grain markets remain on fire Monday.

 

Mike

 

 

 

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11 Replies
lsc76cat
Veteran Advisor

Re: Floor Talk May 4, 2021

Planting progress was pretty significant in our little corner of the world.  Finished our corn Sunday morning and after some maintenance work did a drive around the county.  We dried out enough so most fieldwork got going Thursday morning.  At that point maybe 15 to 20 percent of ground had been worked & planted.  I'd guess about that much was left to do by Sunday noon.  

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cborman11
Senior Contributor

Re: Floor Talk May 4, 2021

Today is May 3rd and the prices are down so what fire?

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Hobbyfarmer
Honored Advisor

Re: Floor Talk May 4, 2021

dumpster fire

marketeye
Veteran Advisor

Re: Floor Talk May 4, 2021

$6.96 per bushel is not corn on fire? 

 

$15.48 soybeans is not soybeans on fire?

 

Opening prices. I'd say those prices are more than on fire. Yes, they  have fallen since the opening, but c'mon, they are unbelievably high.

 

Mike

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Hobbyfarmer
Honored Advisor

Re: Floor Talk May 4, 2021

Been higher in times gone by

2 , 5/8 x 3.5" bolts at JD are about 7 dollars that is unbelievably high

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marketeye
Veteran Advisor

Re: Floor Talk May 4, 2021

Not for at least 8 years though, right?

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northernpifrm
Contributor

Re: Floor Talk May 4, 2021

When their is very little inventory left because of not rationing soon enough the end user is the ones in flames!!

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Hobbyfarmer
Honored Advisor

Re: Floor Talk May 4, 2021

Plenty of 4 dollar corn in piles at some end users locations.

How much is still to be delivered at $4.50 or less?

Mamy end users are most likely just like the producers ...lulled into the USDA reports of massive production and burdensome supplies. 

After a half dozen years of the same ol same ol a person kind of can fall asleep at the switch so to speak.

Hobbyfarmer
Honored Advisor

Re: Floor Talk May 4, 2021

At the rate corn is actually being loaded out for export in another week and a half we will have gotten rid of 2 billion bu. 

Which by the way does not count ddgs or ethanol.

Corn is in $8+  price range in many parts of Brazil.

The government there is in process of incentives to increase feed grain production for their domestic livestock industry.

 

Wow what a system we have..

We import their feed grains into our east coast livestock producers and they import ours into their southern producers.

Suppose they wave as they pass each other?