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Community Manager
marketeye
Posts: 3,098
Registered: ‎05-03-2010
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Floor Talk February 18

[ Edited ]

At the close:

The March corn futures contract settled 4 1/4 cents higher at $4.49. The March soybean futures contract finished 23 cents higher at $13.61. March wheat futures settled 13 cents higher at $6.12 per bushel. The March soymeal futures contract ended $6.90 per short ton higher at $456.90. The March soyoil futures closed $1.21 higher at $40.36.
In the outside markets, the NYMEX crude oil is $1.45 per barrel higher, the dollar is lower and the Dow Jones Industrials are 6 points lower.

 

Mike

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At mid-session:

The March corn futures contract is trading 2 3/4 cents higher at $4.48. The March soybean futures contract is 23 cents higher at $13.60. March wheat futures are 10 cents higher at $6.08 per bushel. The March soymeal futures contract is trading $7.80 per short ton higher at $457.80. The March soyoil futures are trading $1.03 higher at $40.18.
In the outside markets, the NYMEX crude oil is $0.65 per barrel higher, the dollar is lower and the Dow Jones Industrials are 7 points lower.

 

Mike

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At the open:

The March corn futures contract is trading 1 cent higher at $4.46. The March soybean futures contract is 15 cents higher at $13.52. March wheat futures are 5 cents higher at $6.03 per bushel. The March soymeal futures contract is trading $6.60 per short ton higher at $456.60. The March soyoil futures are trading $0.56 higher at $39.71.
In the outside markets, the NYMEX crude oil is $0.55 per barrel lower, the dollar is lower and the Dow Jones Industrials are 11 points lower.

 

Mike

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At 8:10am:

Jeff Coleman, The Trean Group analyst and  CME Group floor trader, says the momentum is positive for all farm markets, especially soybeans. "Plus, Friday’s commitment of traders report showed that hedge funds starting to cover their massive short US wheat positions."

Also, Friday's report showed: For the first time since June, Hedge-fund managers and other large speculators switched to a net-long position in corn futures, according to the CFTC data. Funds upped net-long soybean positions by 15 percent, CFTC data show.

Traders are concerned about Brazil's dry weather.

 

Mike

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At 7:20am:

Early calls: Corn is seen 1-2 cents higher, soybeans 10-11 cents higher, and wheat 3-5 cents higher.

Trackers:
Overnight grain, soybean markets=Trading higher.

ICE Brent Crude Oil=$0.55 per barrel lower.
Dollar=Lower.

Wall Street=Higher.

World Markets=Asia/Pacific stocks were mixed-to-higher, Europe stocks lower.

 


More in a minute,

 

Mike

Senior Contributor
farmerguy89
Posts: 1,020
Registered: ‎06-30-2012
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Re: Floor Talk February 18

Soybeans may finally break through w recent production forecasts.

It would b crazy to see 16-17 again. Locally 15.20. Dollar going the wrong way too! New crop almost 13... Wowewuwa!!
Veteran Contributor
NABFarmer
Posts: 98
Registered: ‎08-21-2010
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Re: Floor Talk February 18

Farmerguy, what is canola worth out your way? We dropped under $8 here last week. One terminal is down to $7.50. We are down $4 since Sept. Fertilizer prices have jumped close to $280 a ton as well.
Veteran Advisor
Palouser
Posts: 2,158
Registered: ‎05-13-2010
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Re: Floor Talk February 18

Nothing like a train wreck to screw up coming AND going of commerce!
Veteran Advisor
Palouser
Posts: 2,158
Registered: ‎05-13-2010
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Re: Floor Talk February 18

I have an idea that by the time next summer comes to an end we will be stunned by the expansion of consumption across the board on a global scale. If that is the outcome, and I can't guarantee it, year end inventories of grain may look quite modest.
Senior Contributor
farmerguy89
Posts: 1,020
Registered: ‎06-30-2012
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Re: Floor Talk February 18

Canola is about 10.23-10.40/bushel Hamilton

Goto bungeservices.com. Use postal code l0k 1b0
Senior Contributor
farmerguy89
Posts: 1,020
Registered: ‎06-30-2012
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Re: Floor Talk February 18

It has been higher. I do believe local bids are in sympathy w the west. Nobody grows canola here. Beans/corn/wheat: that's biggest to smallest.
Veteran Contributor
NABFarmer
Posts: 98
Registered: ‎08-21-2010
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Re: Floor Talk February 18

Our big problem is rail shipments right now. I heard a ship has left thunderbay empty for the first time in history. No grain there to load.
Senior Contributor
Canuck_2
Posts: 4,033
Registered: ‎05-10-2010
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Re: Floor Talk February 18

Are boats leaving Thunder Bay now?

Thought the lakes were mostly iced over.

 

The seaway will not be open for a while yet I don't expect.

Knowledge is knowing a tomato is a fruit.
Wisdom is knowing not to put it in a fruit salad.
Senior Contributor
Canuck_2
Posts: 4,033
Registered: ‎05-10-2010
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Re: Floor Talk February 18

This says the seaway usually opens in late MArch

http://www.greatlakes-seaway.com/en/commercial/opening-closing.html

 

I could believe it might be later this year because of the ice.

Knowledge is knowing a tomato is a fruit.
Wisdom is knowing not to put it in a fruit salad.