At the close:
At the close, the Dec. corn futures finished 1 1/2¢ lower at $3.60 3/4 1/4. March corn futures endede 1 1/4¢ lower at $3.70 3/4.
Nov. soybean futures settled 5 3/4¢ higher at $9.78 3/4. January soybean futures closed 5¢ higher at $9.83 1/4.
Dec. wheat futures settled 1/2¢ lower at $5.43 1/2.
Dec. soymeal futures closed $3.50 per short ton higher at $318.10.
Dec. soy oil futures settled $0.19 cent lower at 33.21¢ per pound.
In the outside markets, the NYMEX crude oil market is $1.38 per barrel higher at $38.14. The U.S. dollar is lower, and the Dow Jones Industrials are 648 points higher.
Mike
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At 8:45am:
The soybean market likes the fundamentals and China's demand.
See Wednesday's markets here.
Mike
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At 6:25am:
1. Ag markets seen lower, dollar higher
In overnight trading, the Dec. corn futures are 2 1/2¢ lower at $3.59 1/2. March corn futures 2 1/4¢ lower at $3.69 3/4.
Nov. soybean futures are 1/4¢ higher at $9.73 1/4. January soybean futures are 1/2¢ lower at $9.77 3/4.
Dec. wheat futures are 2¢ lower at $5.42 1/2.
Dec. soymeal futures are $0.60 per short ton higher at $315.20.
Dec. soy oil futures are 0.22 cent lower at 33.18¢ per pound.
In the outside markets, the U.S. dollar is higher, and the Dow Jones Industrials are expected to bounce back from a three-trading session sell-off.
Al Kluis, Kluis Advisors, says that wheat is leading the markets, this week.
“Watch the extended weather forecasts now in Brazil. Some states there are starting to plant soybeans; other states can start on Friday if they get some rain. The very dry conditions in Argentina are moving into about 25% of Brazil’s main crop area, ” Kluis stated in a daily note to customers.
Brazil's planting season could impact the November 2020 soybean futures contract.
In early January, the CBOT November 2020 soybean contract hit a high of $9.82 per bushel.
"From there, prices traded down to the low at $8.31 in late April 2020. From that low, prices rallied to $9.12, corrected back to $8.65, then rallied to the high yesterday at $9.77. Major resistance is at the January 2020 high at $9.82," Kluis stated Wednesday.
Marketeye
