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Community Manager
marketeye
Posts: 3,099
Registered: ‎05-03-2010
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Floor Talk January 18

[ Edited ]

At mid-session:

The March futures corn contract is trading 2 cents higher at $7.27. The March soybean futures contract is trading 3 cents lower at $14.27. March wheat futures are trading 5 cents higher at $7.86 per bushel. The March soyoil futures contract is trading $0.01 higher at $51.50. The March soymeal futures are trading $0.40 per short ton lower at $413.60. 


In the outside markets, the NYMEX crude oil is $0.46 per barrel lower, the dollar is higher and the Dow Jones Industrials are 14 points lower.

 

Mike

---------

At the open:

The March futures corn contract is trading 3 cents higher at $7.27. The March soybean futures contract opened 2 cents lower at $14.27. March wheat futures opened 1 cent higher at $7.82 per bushel. The March soyoil futures contract opened $0.19 lower at $51.30. The March soymeal futures opened $1.00 per short ton lower at $413.00. 


In the outside markets, the NYMEX crude oil is $0.17 per barrel lower, the dollar is higher and the Dow Jones Industrials are 5 points lower.

 

Mike

--------------

At 7:10am:

Early calls:  Corn is seen 2-4 cents higher, soybeans 5-7 cents higher, and wheat 2-4 cents higher.

 

Trackers:
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.24 per barrel lower.
Dollar=Higher.
Wall Street=Seen opening flat, as GE beats.

World=Asia/Pacific stocks are mostly higher, and Europe's stocks are mostly lower.

 

 

 

More in a minute,

 

 

Mike

Advisor
giolucas
Posts: 1,093
Registered: ‎06-25-2010
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Re: Floor Talk January 18

[ Edited ]

Mike,

 

Any news on the progress in SA? Thanks in advance.

Community Manager
marketeye
Posts: 3,099
Registered: ‎05-03-2010

Re: Floor Talk January 18

At 11:45am:

 

Informa, the private analyst firm, sees the U.S. 2013 corn acreage rising to 99.3 million acres.

 

Here are their latest estimates released Friday:

2013 US Planted Acres
Corn: 99.303 million (+0.277 from Dec)
Beans: 78.777 million (-0.185 from Dec)
Winter Wheat: 41.820 million (-.378 from Dec)
            Spring Wheat:  12.5 (+0.2 from LY)
Cotton:  10.040 mil (-0.025 from Dec)
 
 
Informa December:
 
2013 US Planted Acres
Corn: 99.026 million (+1.3 from Nov)
Beans: 78.962 million (-1.14 from Nov)
Wheat: 56.8 million (-0.3 from Nov)
            Winter Wheat:  42.198 (-0.3 from Nov)
Cotton:  10.065 mil (+0.065 from Nov)

 

Wellll what do you think?

 

Mike

 

Frequent Contributor
nwiafmr
Posts: 57
Registered: ‎11-26-2010
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Re: Floor Talk January 18

I won't be helping the corn numbers unless the weather pattern changes and we get a lot of rain between now and planting.   Will be planting more beans than corn, seems to be what most in this area are thinking according to two of my seed dealers.   One of my dealers has already changed two of my paid for corn numbers because of some shortages.....

Senior Contributor
too close for comfort
Posts: 222
Registered: ‎05-11-2010
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Re: Floor Talk January 18

Senior Contributor
Blacksandfarmer
Posts: 881
Registered: ‎08-04-2010
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Re: Floor Talk January 18

With new crop corn only $5.50 they had better think again when they talk about 99 million acres. With new crop beans at $12.50 that $5.50 price for corn don't switch a lot of rotations in favor of corn.

Senior Contributor
GoredHusker
Posts: 1,709
Registered: ‎05-13-2010
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Re: Floor Talk January 18

Nebraska on average produces roughly two thirds of it's corn under irrigation.  With some areas never having an irrigated allocation that do now and the rest of us that have seeing reduced allocations, I doubt the number three corn growing state has expanded corn acres.  I'd be willing to bet Nebraska sees reduced corn acreage in 2013 unless the weather pattern dramatically changes.  If corn acres expand, it would appear they'll expand from the fringe areas where yields are a crapshoot.   

Veteran Contributor
glenlivet18
Posts: 119
Registered: ‎06-17-2011
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Re: Floor Talk January 18

Another thrilling five-cent day in the corn market.  I guess it's the holiday weekend, but this is happening a lot.  So what do the traders do when it's like this, sit around and bet on how many games the Cubs will lose this year?

Veteran Advisor
roarintiger1
Posts: 1,553
Registered: ‎04-29-2011
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Re: Floor Talk January 18

In comparing Informa's acreage guesses to last year's guesses, they have planted acres for corn, soybeans and wheat gaining around 10.6 million acres total in 2013 compared to 2012..... Where are these 10.6 million acres gonna come from???    Four words come to mind........NOT GOING TO HAPPEN.

"Failing to prepare is preparing to fail." "Success happens when preparation meets opportunity"
Advisor
c-x-1
Posts: 3,137
Registered: ‎06-26-2012
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Re: Floor Talk January 18

they gotta keep the spin going!