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Veteran Contributor
Posts: 443
Registered: ‎09-09-2014
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Floor Talk February 8

[ Edited ]

At the close:

At the close, the March corn futures settled 2 1/4¢ higher at $3.70 3/4, and new crop December 2017 futures finished 1 1/4¢ higher at $3.97 1/2 per bushel. March soybean futures closed 16¢ higher at $10.58 3/4, while November 2017 soybean futures ended 8 3/4¢ higher at $10.28 1/4. March wheat futures finished 1 3/4¢ lower at $4.32 1/2. March soy meal futures ended $5.30 short ton higher at $341.20. March soy oil futures closed $0.39 higher at 34.69¢ per pound.  In the outside markets, the Brent crude oil market is $0.27 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 28 points lower.

 

 

Mike

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At mid-session:

At mid-session, the March corn futures are 1/4¢ higher at $3.68, and new crop December 2017 futures are unchanged at $3.96 per bushel. March soybean futures are 13 1/4¢ higher at $10.56, while November 2017 soybean futures are 7 1/2¢ higher at $10.27. March wheat futures are 1 1/4¢ lower at $4.29. March soy meal futures are $3.70 short ton higher at $339.60. March soy oil futures are $0.49 higher at 35.09¢ per pound.  In the outside markets, the Brent crude oil market is $0.20 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 38 points lower.

 

Mike

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At the open:

At the open, the March corn futures are 1/2¢ lower at $3.68, and new crop December 2017 futures are 1¢ lower at $3.95 per bushel. March soybean futures are 7¢ higher at $10.50, while November 2017 soybean futures are 3¢ higher at $10.23. March wheat futures are 1¢ higher at $4.31. March soy meal futures are $2.70 short ton higher at $338.60. March soy oil futures are $0.31 higher at 34.61¢ per pound.  In the outside markets, the Brent crude oil market is $0.32 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 37 points higher.

 

Mike

Soybeans were higher overnight while corn fell as investors square positions ahead of tomorrow's WASDE report. Beans gained 8 cents while corn lost a penny. Many analysts are so far pegging soybean carryout lower. Corn stocks also are seen lower, but Brazilian production may increase, which might offset the positive US corn news. Commodity Weather Group said in a report that it expects Brazilian soybean production to top USDA estimates due to favorable weather.  


Here's what happened overnight:

 

Brent Crude Oil = 0.6% lower.

West Texas Intermediate Crude Oil = 0.4% lower.

Dollar = up 0.3%.

Wall Street = U.S. stock futures slightly higher in pre-market trading.

World Markets = Global stocks mixed as focus turns from earnings to economic data. 

Honored Advisor
Posts: 7,226
Registered: ‎07-18-2011
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Re: Floor Talk February 8

I can give you the interview from the "trade"...... 

 

Nothing to support a day like today ............ No reason at all.... We can't find a thing.... should be gone by morning...

 

Nothing to support beans  there are piles and piles still out there.