At the close:
The Dec. corn futures settled 6 1/2 cents higher at $6.85. The Nov. soybean contract closed 3 cents higher at $13.87. The Sep. wheat futures ended 12 1/4 cents lower at $6.94 3/4. The Dec. soybean meal futures contract settled $3.10 per short ton higher at $365.90 and Dec. soyoil futures closed $0.02 higher at $58.26.
In the outside markets, the NYMEX crude oil is $1.80 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 42 points.
Mike
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At mid-session:
The Dec. corn futures are trading 18 1/4 cents higher at $7.08 3/4. The Nov. soybean contract is trading 9 1/2 cents higher at $13.93 1/4. The Sep. wheat futures are trading 3 cents higher at $7.10. The Dec. soybean meal futures contract is $3.10 per short ton higher at $365.90 and Dec. soyoil futures are trading $0.17 higher at $58.41.
In the outside markets, the NYMEX crude oil is $1.74 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 35 points.
One corn pit trader thinks this rally is all about the hot weather hitting the Midwest crops.
Mike
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In early trading:
In early trading, the Dec. corn futures are trading 12 1/2 cents higher at $6.91. The Nov. soybean contract is trading 10 cents higher at $13.94. The Sep. wheat futures are trading 5 1/2 cents higher at $7.12 1/2. The Dec. soybean meal futures contract is $2.90 per short ton higher at $365.90 and Dec. soyoil futures are trading $0.20 higher at $58.44.
In the outside markets, the NYMEX crude oil is $1.50 per barrel higher, the dollar is higher and the Dow Jones Industrials are up 83 points.
Mike
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At 7am:
Early calls: Corn 1-2 cents higher, soybeans 2-4 cents higher, and wheat 4-6 cents lower.
Trackers:
Overnight grain, soybean markets=Trading mostly higher.
Crude Oil=$0.17 higher.
Dollar=Lower.
Wall Street=Seen trading higher despite a warning by the S&P that it could downgrade the U.S. even if it has paid off some critical debts but doesn't raise it's debt ceiling. The results of the European stress tests will be released today. And more U.S. corporate earnings are due out today.
World Markets=Asia's mixed, but Europe stocks are mixed-to-mostly lower.
More in a minute,
Mike
