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Community Manager
marketeye
Posts: 3,188
Registered: ‎05-03-2010
0

Floor Talk February 25

[ Edited ]

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

 

 

Mike

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At mid-session:

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.

 

Mike

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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.

 

Mike

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At 7:50am:

--In its announcement overnight, China reported January soybean imports at 4.78 mmtwith mostly all of the imports coming from the US.

 

Mike

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At 7:20am: 

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

 

Trackers:
Overnight grain, soybean markets=Trading lower.
Crude Oil=$1.10per barrel higher
Dollar=Lower. 
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,

 

 

Mike

Senior Advisor
ECIN
Posts: 2,071
Registered: ‎10-17-2012
0

Re: Floor Talk February 25

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 ?

 

thanks

 

Ken

Senior Contributor
highyields
Posts: 792
Registered: ‎06-04-2010
0

Re: Floor Talk February 25

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?  

 

 

Senior Contributor
p-oed Farmer
Posts: 398
Registered: ‎05-04-2010
0

Re: Floor Talk February 25

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

This information is worth what you payed for it...... :~)
Community Manager
marketeye
Posts: 3,188
Registered: ‎05-03-2010
0

Re: Floor Talk February 25

p-oed Farmer,

 

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.

 

Mike

Frequent Contributor
noreaster
Posts: 61
Registered: ‎01-24-2012
0

ahhh c'mon boys!

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.

 

 

 

 

Veteran Advisor
Shaggy98
Posts: 4,167
Registered: ‎06-19-2011
0

Re: ahhh c'mon boys!

Hang in there noreaster, patience is a virtue.
Advisor
giolucas
Posts: 1,136
Registered: ‎06-25-2010
0

Re: Floor Talk February 25

Norester,

 

Time to get Longer.  Im in the same boat.

Community Manager
marketeye
Posts: 3,188
Registered: ‎05-03-2010
0

Re: Floor Talk February 25

--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.

 

Mike

Senior Contributor
Bugeye
Posts: 240
Registered: ‎11-30-2012
0

Re: Floor Talk February 25

I read China dropped two loads of Brazil beans and headed the ships to the US to load. Supposed to be 159 ships sitting in two Brazil ports waiting to load. Me thinks there's gonna be some sailors spending the summer in Brazil.