At the close:
At the close, the July corn futures settled 17 1/4¢ higher at $6.96 3/4. New crop September futures settled 18 1/2¢ higher at $6.10. December corn futures closed 17 1/2¢ higher at $5.80 1/4.
July soybean futures closed 14 3/4¢ higher at $15.38 3/4. August soybean futures closed 15 1/2¢ higher at $14.82. New crop November soybean futures ended 18 1/4¢ higher at $13.63 1/4.
July wheat futures settled 8 3/4¢ higher at $7.26 3/4.
July soymeal futures finished $6.40 short ton higher at $421.50.
July soy oil futures closed +0.52 higher at 63.58¢ per pound.
In the outside markets, the NYMEX crude oil market is +1.26 higher (+1.95%) at $65.75. The U.S. dollar is higher, and the Dow Jones Industrials are 106 points lower (-0.31%) at 33,006 points.
Mike
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At midsession:
At midsession, the July corn futures are 22¢ higher at $7.01 1/2. New crop September futures are 17 1/2¢ higher at $6.09. December corn futures are 16¢ higher at $5.79 1/4.
July soybean futures are 17 3/4¢ higher at $15.41 3/4. August soybean futures are 17 1/2¢ higher at $14.84. New crop November soybean futures are 17 1/4¢ higher at $13.61 1/4.
July wheat futures are 8 1/4¢ higher at $7.26 3/4.
July soymeal futures are $7.80 short ton higher at $422.90.
July soy oil futures are +0.68 higher at 63.74¢ per pound.
In the outside markets, the NYMEX crude oil market is +1.21 higher (+1.88%) at $65.70. The U.S. dollar is higher, and the Dow Jones Industrials are 272 points lower (-0.80%) at 33,840 points.
Jack Scoville, PRICE Futures Group, says that the corn market is still chugging along on a combination of spec and commercial buying.
"For soybeans, that market is stalling out, here, as the demand has been less. We don't have much to sell, but the demand is down too. Corn has no such problems as export inspections were high yesterday, especially to China, and as the Brazilian Safrinha crop is in big trouble. Corn has more upside showing these days and a move to $7.20 is very likely in the short term," Scoville says.
At the open:
Turnaround Tuesday is underway.
Mike
