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Tony_Dreibus
Veteran Contributor

Floor Talk May 31

At the close:

At the close, the July corn futures finished 1/2¢ higher at $3.94. December futures 1/2¢ higher at $4.13. July soybean futures are 4 1/2¢ lower at $10.18 1/2.  November soybean futures settled 2 1/4¢ lower at $10.34 1/4. July wheat futures finished 4 1/4¢ higher at $5.26 1/4. July soy meal futures closed $1.60 per short ton lower at $375.30. July soy oil futures finished 0.36 lower at 31.12¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.04 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 218 points lower.

 

Mike

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At mid-session:

At mid-session, the July corn futures are 1 1/4¢ higher at $3.94. December futures 1 1/2¢ higher at $4.14. July soybean futures are 5 3/4¢ lower at $10.17.  November soybean futures are 3 1/2¢ lower at $10.33. July wheat futures are 4 1/4¢ higher at $5.26. July soy meal futures are $1.70 per short ton lower at $375.20. July soy oil futures are 0.34 lower at 31.14¢ per pound.  In the outside markets, the NYMEX crude oil market is $1.25 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 195 points lower.

 

Mike

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At 9:00am:

In early trading, the July corn futures are 4¢ higher at $3.97. December futures 4 1/4¢ higher at $4.17. July soybean futures are 6 1/4¢ higher at $10.29.  November soybean futures are 7¢ higher at $10.43. July wheat futures are 4 3/4¢ higher at $5.26. July soy meal futures are $2.20 per short ton higher at $379.10. July soy oil futures are 0.04 higher at 31.52¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.93 lower, the U.S. dollar is even, and the Dow Jones Industrials are 106 points lower.

 

Mike

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Wheat futures that were precariously higher in overnight trading on reports that Egypt rejected a Russian cargo of the grain have now turned lower. Futures were up 1-2 cents but are now down by that amount. Corn and beans were up about a penny. The International Grains Council said its grains and oilseeds price index that measures shipped grain prices is up 12% since the start of the year and 15% in the past 12 months. Global weather woes and increased demand have driven prices up, the IGC said. In weather news, it's going to be rainy in parts of Minnesota, Wisconsin and Illinois for the rest of the week, but it's turning hotter and drier in the southern Plains. Check out all the details in today's 3 Big Things

 

West Texas Intermediate = down 0.9%.

Brent Crude = up 0.2%

Dollar = down 0.3%.

Wall Street = U.S. stock higher pre-market.

World Markets = Global stocks higher overnight.

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