From the floor May 24
For soybeans, 53% of the U.S. crop is planted, 24% of the soybean crop has emerged. In the past week, Illinois and Indiana farmers made significant advances in soybean planting vs. a year ago. Iowa farmers are just slightly ahead of their year ago pace. Meanwhile, the states of Michigan, Minnesota, Nebraska and Wisconsin used this past week’s warm/dry weather to move them over half-done with soybean plantings.
U.S. winter wheat crop at 9% very poor-poor, 25% fair, and 66% good/excellent. Also, 63% of the crop is headed, below 66% a year ago, and a 68% five-year average. The U.S. spring wheat is 91% planted. USDA estimates that 60% of the U.S. cotton crop has been planted.
In the outside markets, the NYMEX crude oil is $0.16 per barrel higher, the dollar is higher, and the Dow Jones Industrials are down 54 points.
In the outside markets, the NYMEX crude oil is $0.12 per barrel higher, the dollar is higher, and the Dow Jones Industrials are down 28 points.
The July corn futures opened 1/2 of a cent lower at $3.68 1/2, Dec. corn is 1/4 of a cent lower at $3.85. The July soybean futures contract opened 5 1/2 cents higher at $9.44 1/2 per bushel. The July wheat futures opened 1 1/2 cents lower at $4.70 1/2. July soybean meal futures opened $2.70 higher at $278.30 per short ton. The July soyoil futures opened 12 points higher at $37.08.
In the outside markets, the NYMEX crude oil is $0.32 per barrel higher, the dollar is higher, and the Dow Jones Industrials are down 32 points.
Wall Street=Seen opening lower as a bailout for a Spain bank weighs on the European debt crisis. Germany's market is not open today. Also, a lot of economic reports will be released this week for investors to eye.
More in a minute,
Mike It's Monday, five days of opportunity ahead!