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Community Manager
marketeye
Posts: 3,096
Registered: ‎05-03-2010
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Floor Talk February 4

[ Edited ]

In early trading:

The March corn futures contract is trading 2 3/4 cents higherat $4.38. The March soybean futures contract is trading 7 cents higher at $12.99. March wheat futures are 4 3/4 cents higher at $5.68 per bushel. The March soymeal futures contract is trading $5.60 per short ton higher at $420.70. The March soyoil futures are trading $0.14 lower at $37.31.

 

Mike

----------

At 7:20am:

Early calls: Corn is seen 1-2 cents higher, soybeans 6-8 cents higher, and wheat 1-2 cents higher.

Trackers:
Overnight grain, soybean markets=Trading mostly higher.

Crude Oil=$0.05 per barrel higher.
Dollar=Higher.

Wall Street=Seen lower, with more jitters in the market.

World Markets=Asia/Pacific stocks were lower, Europe stocks lower.

 


More in a minute,

 

Mike

Esteemed Advisor
Hobbyfarmer
Posts: 3,859
Registered: ‎01-10-2012
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Re: Floor Talk February 4

What's up with beans?

 

This isn't right

 

SA is awash in beans...even if they are at the end of 1200miles of bad road.

 

We are forecast to grow a record amount of acres on top of a good harvest that just wraped up a few months ago.

 

The local Gavilon grain terminal just has been swamped the last two times beans hit $13 and now with their "free" price later have been swamped with enough more to have shut that off for a little while starting tomorrow.

 

Beans up 15.2 a little while ago????? basis is about -30ish here

60% of the time, it works every time.

"Political correctness is a doctrine, fostered by a delusional, illogical minority, and promoted by mainstream media, which holds forth the proposition that it is entirely possible to pick up a piece of dung by the clean end."
Senior Contributor
farmerguy89
Posts: 1,012
Registered: ‎06-30-2012
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Re: Floor Talk February 4

1.70 over here. $2 difference hobby!!!! almost 15/bushel port of hamilton on.
Senior Advisor
ECIN
Posts: 1,996
Registered: ‎10-17-2012
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Re: Floor Talk February 4

Hobby were are 13.31 here - Thats with a plus .20 basis -  Tell your elevator that you raised Indiana beans this season then they would probably give you that plus 20 heck they might even go plus 30 for them  :smileyhappy:

Esteemed Advisor
sw363535
Posts: 4,440
Registered: ‎07-18-2011
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Re: Floor Talk February 4

The days trading left Mike speechless

sw
Esteemed Advisor
sw363535
Posts: 4,440
Registered: ‎07-18-2011
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Re: Floor Talk February 4

sold just a little corn today ------- everything else went up too much  :smileyhappy:

sw
Esteemed Advisor
Hobbyfarmer
Posts: 3,859
Registered: ‎01-10-2012
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Re: Floor Talk February 4

 

Corn News

•Corn saw another round of short-covering by the funds.

–The funds were still short 52,000 contracts according to Friday’s commitment of traders report.

–It was estimated that the funds bought 7,000 contracts yesterday and bought another 15,000 contracts today.

•The trade is expecting a slight decline in corn stocks.

–Stocks could decline by 50 mb or so which could reduce ending stocks from 1.63 bb to 1.58 bb … still adequate.

•Informa’s South American corn estimates are below USDA.

–Informa est. Brazil production at 66.6 mmt v s. USDA at 70.0.

–Informa est. Argentina production at 22.6 mmt v s. USDA at 25.0.

 

 

Soybean News

•Beans were 20 cents higher in the nearby contracts, but new crop beans were only able to close 2 cents higher.

•Old crop beans remain tight and large export sales will likely have USDA increasing its export estimate next Monday.

•The South American soybean crop will be record large.

–Informa est. Brazil production at 89.7 mmt v s. USDA at 89.0.

–Informa est. Argentina production at 57.0 mmt v s. USDA at 54.5

 

 

60% of the time, it works every time.

"Political correctness is a doctrine, fostered by a delusional, illogical minority, and promoted by mainstream media, which holds forth the proposition that it is entirely possible to pick up a piece of dung by the clean end."
Advisor
idalivered
Posts: 1,258
Registered: ‎05-13-2010
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Re: Floor Talk February 4

One SA problem is argentina's currency. I suspect their farmer's won't sell anything unless forced. talk about welding you bin doors shut. For the near term. i'd guess none to small exports of anything from them.

 

Other supply issue is lack of rail service to north dakota. will this effectively take 1/2 their production off the market?