- Agriculture.com Community
- Announcements & Forum Help
- Farm Business
- Young & Beginning Farmers
- Cattle Talk
- Crop Talk
- Hog Talk
- Machinery Talk
- Machinery Marketplace
- Shops, buildings and bins
- Ask the SF Engineman!
- Computers & more
- Precision Agriculture
- People & Rural Life
- Ag Forum
- Women In Ag
- Agriculture.com Blogs
- Your Farm in the Future
- Women in Ag: Lisa Foust Prater
- Women in Ag: Brenda Frketich
- Women in Ag: Anne Miller
- Women in Ag: Jennifer Dewey
- Women in Ag: Talkin' Turkey with Lara Durben
- Women in Ag: Heather Lifsey Barnes
a week ago - last edited a week ago by marketeye
After the close:
Reuters reports that Argentina's port workers will stage strikes next week. In fact, all throughout the end of the month, the strikes will take place.
At the close:
At the close, the May corn futures settled 4¢ lower at $3.57, while December futures finished 4¢ lower at $3.82 1/4. July soybean futures ended 3 3/4¢ lower at $9.56 3/4, November soybean futures closed 4 1/2¢ lower at $9.53 3/4. July wheat futures closed 12 3/4¢ lower at $4.21 3/4. July soy meal futures settled $3.30 per short ton lower at $311.90. July soy oil futures closed $0.33 higher at 32.12¢ per pound. In the outside markets, the Brent crude oil market is $0.18 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 200 points higher.
News out of Brazil:
Luis Vieira, Successful Farming freelance writer in Brazil, just passed along this note:
The port of Rio Grande, the third largest in grain cargo in Brazil, located in the south of the state of Rio Grande do Sul, is overloaded. Trucks are not being able to enter the port due to the long lines. The state of Rio Grande do Sul expects to harvest 19 million metric tons this season - almost ten times more than countries like Canada and Uruguay.
At mid-session, the May corn futures are 2 3/4¢ lower at $3.59, while December futures are 3¢ lower at $3.83 1/2. July soybean futures are 1/4¢ lower at $9.60, November soybean futures are 1 1/2¢ lower at $9.56. July wheat futures are 8¢ lower at $4.26 1/2. July soy meal futures are $2.10 per short ton lower at $313.10. July soy oil futures are $0.37 higher at 32.16¢ per pound. In the outside markets, the Brent crude oil market is $0.03 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 170 points higher.
In early trading, the May corn futures are unchanged at $3.61, while December futures are 1/4¢ lower at $3.86. May soybean futures are 1/2¢ lower at $9.49, November soybean futures are 2 1/2¢ lower at $9.55. July wheat futures are unchanged at $4.34. July soy meal futures are $1.60 per short ton lower at $313.60. July soy oil futures are $0.16 higher at 31.95¢ per pound. In the outside markets, the Brent crude oil market is $0.08 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 45 points higher.
USDA Weekly Export Sales Report shows that wheat sales beat and corn sales, for last week, came in at the high end of expectations.
Wheat= 551,200 metric tons vs. the trade expectations of between 250,000-450,000 metric tons
Corn=848,200 mt. vs. the trade expectations of between 700,000-1,000,000 metric tons.
Soybeans= 225,000 mt. vs. the trade expectations of between 300,000-500,000 metric tons.
Soybean meal= 135,100 mt vs. the trade expectations of between 50,000-200,000 metric tons.
Corn and beans were higher in overnight trading as rain continues in many areas of the Midwest and Delta, keeping farmers out of fields. Corn added 2 cents and beans were up about 4 cents. Wheat rose 2-3 cents. Today's rounds of storms are expected in Illinois-Indiana-Michigan and Kansas-Oklahoma-Missouri. Planting's already behind the five-year average pace, and it's not going to get better until this rain lets up. Still, nobody's losing their minds and buying buying and buying like they might do in the past because you all can plant a few million acres between breakfast and dinner these days, but the rain is underpinning prices for sure. Ethanol production rose but only slightly as producers are looking at the large carryout and may be thinking they don't want to add to the already lofty inventory levels.
Here's what happened overnight:
Brent Crude Oil = up 1%.
West Texas Intermediate Crude Oil = up 1%.
Dollar = down 0.1%.
Wall Street = U.S. stock futures higher in pre-belltrading.
World Markets = Global stocks mixed as earnings reports roll in.
a week ago
Trade guess....Acres lowest since the early 1900's
(and this is 2017), and crop conditions are not
The best.......Yet.....Yet......Wheat goes down
12 cents....Some areas now down close to
$3 a bu or less for new crop.....And we don't even
Have harvest pressure yet !!
We have less wheat, and it's lower.
Please....Don't say the market is always right.
But I guess we no longer have a market
a week ago
silly me......I forgot........news coming from extension and others that we have now spotted foliage disease, and that the wheat
may need to be sprayed.....cost is in excess of $10 per acre...........so how many bushels will that cost ?
I hear the Chicago bunch, and all those in the commodity field, keep talking about the markets.......and how "support is at xxx
or long term low is xxx.......I've noted as of late........they don't say dollars and cents.......just a "number".........
here is the rub, they tell the different vales from past.........understand there is inflation....while they compare those prices,
that is not accurate......$3 in 1970 is a lot different than $3 in 2017.......but to them it is not.
perhaps we should use the same logic with the dow......do you think it would be 20,000 if we used the same logic ??