From the daily archives: Thursday, July 6, 2017

Morning Softs. 07/06/17

On July 6, 2017 - 10:52 AM By

Crop Progress
Date 2-Jul 6/125/2017 2016 Avg
Cotton Squaring 45 34 40 44
Cotton Setting Bolls 13 7 10 10
Corn Silking 10 4 14 13
Soybeans Emerged 98 94 98 95
Soybeans Blooming 18 9 20 17
Sorghum Headed 25 20 29 24
Rice Headed 14 […]

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Morning Grains. 07/06/17

On July 6, 2017 - 10:37 AM By

Crop Progress
Date 2-Jul 6/125/2017 2016 Avg
Cotton Squaring 45 34 40 44
Cotton Setting Bolls 13 7 10 10
Corn Silking 10 4 14 13
Soybeans Emerged 98 94 98 95
Soybeans Blooming 18 9 20 17
Sorghum Headed 25 20 29 24
Rice Headed 14 […]

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On July 6, 2017 - 10:24 AM By

[Daniel J. Graeber, UPI] Oil market in search of a comfort zone that strikes a balance between over and under stimulus. A downturn in U.S. crude oil production, followed by a decline in exploration and production, helped oil prices recover lost ground in early Thursday trading. Crude oil prices lost nearly 5 percent of their […]

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[Myra P. Saefong, MarketWatch] The American Petroleum Institute reported Wednesday a much larger-than-expected drop of 5.8 million barrels in U.S. crude supplies for the week ended June 30, according to sources. Phil Flynn of Price Futures Group said the decline was a “delayed impact” from the tropical storm in the Gulf of Mexico last month. […]

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In the overnight electronic session the Grains saw long liquidation. On the Corn front news that President Trump’s Environmental Protection Agency (EPA) Administrator Scott Pruitt proposed reducing the volume of biofuels in 2018 due to market realities. This story broke after the word on the street was anticipated that the volume figures would stay the […]

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Financials: Sept. Bonds are currently 22 lower at 152’21, 10 Yr. Notes 11 lower at 124’28 and the 5 Yr. Note 6 lower at 117’14. My down side objective of the125’08-125’17 area for the 10 Yr. Note has been met and surpassed. I recommend covering all short biased positions in the interest rate sector and […]

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Oil prices sold off almost 5% on what many people attributed to a story that some unnamed Russian oil company source said that Russia was against a production cut. Today those sources are still unknown, but really the sell-off in oil probably had more to do with the fact that Saudi Arabia cut prices to […]

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