- Agriculture.com Community
- Announcements & Forum Help
- Farm Business
- Young & Beginning Farmers
- Cattle Talk
- Crop Talk
- Hog Talk
- Ask the Agronomy Insider
- 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
02-25-2013 07:23 AM - edited 02-25-2013 08:37 PM
At the close:
The March futures corn contract settled 2 cents higher at $6.96. The March soybean futures contract finished 5cents higher at $14.56. March wheat futures finished 1 cent higher at $6.99per bushel. The March soyoil futures contract closed $0.11 lower at $49.96. The March soymeal futures ended $2.30 per short ton higher at $427.90.
The March futures corn contract is trading 1/2 of a cent higherat $6.90. The March soybean futures contract is trading 20cents lower at $14.41. March wheat futures trade 9 cents lower at $7.06 per bushel. The March soyoil futures contract is trading $0.61 lower at $49.74. The March soymeal futures are trading $4.90 per short ton lower at $422.00.
In the outside markets, the NYMEX crude oil is $0.28 per barrel higher, the dollar is higher and the Dow Jones Industrials are 50 points lower.
At the open:
The March futures corn contract opened unchanged at $6.90. The March soybean futures contract opened 6 cents lower at $14.55. March wheat futures opened 3 cents higher at $7.11per bushel. The March soyoil futures contract opened $0.58 lower at $49.77. The March soymeal futures are trading $1.70 per short ton higher at $428.60.
In the outside markets, the NYMEX crude oil is $0.38 per barrel higher, the dollar is lower and the Dow Jones Industrials are 16 points higher.
--In its announcement overnight, China reported January soybean imports at 4.78 mmtwith mostly all of the imports coming from the US.
Early calls: Corn is seen 1-2 cents lower, soybeans 3-5 cents higher, and wheat 3-5 cents lower.
Overnight grain, soybean markets=Trading lower.
Crude Oil=$1.10per barrel higher.
Wall Street=Seen opening higher, after Lowe's beats the street's earnings estimate.
World=Asia/Pacific stocks were higher and Europe's stocks were higher.
More in a minute,
02-25-2013 07:48 AM
Good morning Mike -- I read on your marketing page that yields coming out of Brazil were disappointing and that the latter beans --seemed to be not not better , now my question --Oh Great One , just how disappointing are they ?
2. They aso said they are 30 % done with beans , trucks seem to be the problem , how dos this play out on planting there corn ?
02-25-2013 08:09 AM
according to the RMA page in my county and state the approved price for corn so far is $5.68,,,soybeans are $12.94.....
Those prices don't cover the cost of the acres that have been cash rent around me. At the current input cost you can't buy enough insurance to cover the cost on those acres at that price of corn.
My local basis for corn is 15 over, terminal at the river is 17 over, ethanol plant 40miles away at 27 over, all as of Friday's close.
They need corn. Who has it and how much are they willing to pay to get it?
I have heard stories of the ethanol plants in central nebraska starting back up, IS there enough corn to operate them?
02-25-2013 09:36 AM
Hell Mike..... If they can't get beans to port with the truck shortage....... How they gonna get corn the yields two to 3 times as much as beans to port...... These SA farmers are IMO real risk takers.....p-oed
02-25-2013 09:57 AM
Logistics are a big problem in Brazil. Due to weather patterns and the way the crop is finishing, a lot of Brazil's regions are ending up having to harvest at the same time, this year. That is a problem. It's last year's corn that is coming to market that is the cause of some of these port logjams.
02-25-2013 10:54 AM
Brazil this, Brazil that, can't work, can't load, can't ship blah blah blah. Same stuff every year...
Brazil has lotsa beans, whether they get to market tomorrow or 6 months from now is irrelevant. The market has it's mind made up till US planting intentions and possible spring planting weather market.
Beans are now $.75/bu lower than Friday mornings high.
Oh By the way; I'm long cash beans.......... So here's laughing at me.
02-25-2013 12:24 PM
--USDA says 127,000 tons of U.S. corn sold to an 'unknown' buyer.
--USDA says 120,000 tons of U.S. soybeans sold to China Monday for 2013-2014 delivery.
This doesn't appear to be enough feed for the market bulls.
02-25-2013 02:17 PM