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Tony_Dreibus
Veteran Contributor

Floor Talk May 9

At the close:

At the close, the July corn futures settled 1/2¢ higher at $3.66 1/2, while December futures closed 3/4¢ higher at $3.85. July soybean futures finished 9 1/4¢ higher at $9.74, November soybean futures finished 6 1/4¢ higher at $9.67 1/2. July wheat futures ended 4¢ lower at $4.29. July soy meal futures settled $4.90 per short ton higher at $318.50. July soy oil futures finished $0.05 lower at 32.89¢ per pound.  In the outside markets, the Brent crude oil market is $0.44 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 17 points lower.

 

Mike

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At mid-session:

At mid-session, the July corn futures are 1 1/2¢ higher at $3.67, while December futures are 1¢ higher at $3.85. July soybean futures are 10 3/4¢ higher at $9.75, November soybean futures are 7 1/2¢ higher at $9.68. July wheat futures are 4¢ lower at $4.29. July soy meal futures are $5.20 per short ton higher at $318.80. July soy oil futures are $0.08 higher at 33.02¢ per pound.  In the outside markets, the Brent crude oil market is $0.40 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 8 points higher.

 

Mike

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At 9AM:

In early trading, the July corn futures are 1 1/2¢ higher at $3.67, while December futures are 1¢ higher at $3.85. July soybean futures are 6 3/4¢ higher at $9.71, November soybean futures are 5 1/4¢ higher at $9.66. July wheat futures are 1 3/4¢ lower at $4.31. July soy meal futures are $3.00 per short ton higher at $316.60. July soy oil futures are $0.09 higher at 33.03¢ per pound.  In the outside markets, the Brent crude oil market is $0.42 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 13 points higher.

 

Mike

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Soybean and grain futures were all little changed overnight on somewhat offsetting planting news -- Michigan and Wisconsin were well behind average while growers were parked in Indiana thanks to all the rain, but in Nebraska and Iowa and a few other states, growers were going like gangbusters. Soybeans, corn and wheat futures all moved less than a penny in overnight trading. It's also quite quiet ahead of the WASDE report tomorrow, analysts said. The stronger dollar is also weighing on US commodities. 

 

Here's what happened overnight:

 

Brent Crude Oil = down 0.3%.  

West Texas Intermediate Crude Oil = down 0.3%. 

Dollar = up 0.4%.

Wall Street = U.S. stock futures higher in pre-market trading.

World Markets = Global stocks higher on positive EU sentiment. 

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