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Community Manager
marketeye
Posts: 3,180
Registered: ‎05-03-2010
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Floor Talk January 30

[ Edited ]

At the close:

The March corn futures contract settled 6 cents higher at $4.33. The March soybean futures contract closed 5 3/4 cents higher at $12.75. March wheat futures finished 2 cents higher at $5.53 per bushel. The March soymeal futures contract ended $1.90 per short ton higher at $425.20. The March soyoil futures settled $0.03 lower at $37.07.
In the outside markets, the Brent crude oil is $1.04 per barrel higher, the dollar is higher and the Dow Jones Industrials are 106 points higher.

Mike North, Senior Risk Advisor for First Capitol Ag, says today's trading offered more of the same. "Corn remains in a quiet range, while soybeans whip in the area of consolidation from the $12.60s to the $12.80s.  Export data was supportive and may help corn break out for a brief rally," North says. But, it will need to continue to see more weeks like this one.  Otherwise this thing is a yawner."

 

Mike

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At mid-session:

The March corn futures contract is trading 6 cents higher at $4.33. The March soybean futures contract is trading 11 cents higher at $12.80. March wheat futures are 1 cents higher at $5.53 per bushel. The March soymeal futures contract is trading $4.10 per short ton higher at $427.40. The March soyoil futures are trading $0.02 higher at $37.12.
In the outside markets, the Brent crude oil is $1.06 per barrel higher, the dollar is higher and the Dow Jones Industrials are 142 points higher.

 

Mike

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At the open:

The March corn futures contract is trading 3 cents higher at $4.30. The March soybean futures contract is trading 1/2 of a cent higher at $12.69. March wheat futures are 3 cents higher at $5.54 per bushel. The March soymeal futures contract is trading $3.00 per short ton lower at $420.20. The March soyoil futures are trading $0.12 higher at $37.20.
In the outside markets, the Brent crude oil is $0.09 per barrel higher, the dollar is higher and the Dow Jones Industrials are 90 points higher.

 

Mike

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At 8:15am:

Corn has a nice demand story to trade this morning.

--USDA announces Thursday that an 'unknow' bought 127,000 tons of U.S. corn for 2013-14 delivery.

 

Meanwhile, the USDA Weekly Export Sales Report shows bullish corn exports:

 

Corn=1.94 million tons vs. the trade's expectations of 450,000-1,000,000 metric tons.

Soybeans=865,800 tons vs. the trade's expectations of 200,000-600,000.

Wheat =796,900 tons vs. the trade's expectations of 300,000-625,000.

 

Mike

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At 7:45am

Early calls: Corn is seen 1-2 cents higher, soybeans 3-5 cents higher, and wheat 2-4 cents higher.

Trackers:
Overnight grain, soybean markets=Trading higher.
Brent Crude Oil=$0.05 per barrel lower.
Dollar=Higher.

Wall Street=Seen higher.

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

 


More in a minute,

 

Mike

Esteemed Advisor
Hobbyfarmer
Posts: 4,029
Registered: ‎01-10-2012
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Re: Floor Talk January 30

[ Edited ]

We must be way too cheap. Just think what these bargin prices must be doing to those third world farmers. Let alone the big iron manufacturers.

 

People must still want to eat?

 

world population.jpg

 This map shows the world divided into 7 sections (each with a distinct color) with each section containing 1 billion people.

 

world pop 2.jpg

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."