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marketeye
Veteran Advisor

Floor Talk May 7, 2021

At the close:

At the close, the July corn futures ended 12 1/2¢ higher at $7.31. New crop September futures closed 7 3/4¢ higher at $6.53 1/2. December corn futures finished 10 1/4¢ higher at $6.35.

July soybean futures settled 20 1/4¢ higher at $15.89 3/4. August soybean futures settled 21 3/4¢ higher at $15.37 1/2. New crop November soybean futures finished 24 1/2¢ higher at $14.33 1/4.

July wheat futures ended 8 1/2¢ higher at $7.61 3/4.

July soymeal futures settled $14.50 per short ton lower at $441.80.


July soy oil futures closed +0.13 higher at 64.48¢ per pound.

In the outside markets, the NYMEX crude oil market is +0.08 higher (+0.12%) at $64.79. The U.S. dollar is lower, and the Dow Jones Industrials are 220 points higher (+0.64%) at 34,768 points.

 

Mike

 

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2 Replies
roarintiger1
Honored Advisor

Re: Floor Talk May 7, 2021

Yet, another up day. A guy could get used to this. 😉

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Hobbyfarmer
Honored Advisor

Re: Floor Talk May 7, 2021

Well the "goddess of grain" on Market to Market said this Sesame Street market has at least 40 more days before there is a head wind.

Of course she admitted to being $5 wrong in the last 40 days (2 on corn 3 beans).

I guess drop the reins and "let r buck"?

 

Edit to add:

Even with the climbing market, basis improved several on corn and a nickel on the bean side. 

Nobody pinch me I like this dream...