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Community Manager
marketeye
Posts: 3,034
Registered: ‎05-03-2010
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Floor Talk March 13

[ Edited ]

Video: Grain Market Summary for March 13, 2012.

 

Mike

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At the close:

The May corn futures settled 2 1/2 cents higher at $6.62. The May soybean contract ended 14 1/4 cents higher at $13.48 3/4. The May soymeal futures closed $3.70 per short ton higher at $365.80. The May soyoil futures settled $0.96 higher at $54.92.
In the outside markets, the NYMEX crude oil is $0.56 per barrel higher, the dollar is higher and the Dow Jones Industrials are up 111 points.

 

One analyst says, "The rally in soybeans is supposed to be in response to the recent strength in corn.  "There is need to show some price to keep soybean plantings up. Probably something to it, as Oil World and others are talking better demand for U.S. beans now, with the lost production in Brazil."

 

Mike

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At 12:35pm:

Soybean prices remain very strong. Supposedly, the bean market is jumping due to lower global bean production estimates. The market sees the U.S. gaining more export business, as a result. Now, the U.S. has filed a trade case against China Tuesday. In a nutshell, the U.S. is aking the WTO to look into China witholding exports of rare earth material.

 

So, the question is whether this trade row will impact China imports of U.S. soybeans? What say you and your neighbors?

 

Mike

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At mid-session:

The May corn futures trade 1/2 of a cent higher at $6.60. The May soybean contract is trading 18 cents higher at $13.52 1/2. The May wheat futures are trading 2 3/4 cents higher at $6.54.  The May soymeal futures are trading $4.90 per short ton higher at $367.00. The May soyoil futures are trading $0.79 higher at $54.75.
In the outside markets, the NYMEX crude oil is $0.48 per barrel higher, the dollar is higher and the Dow Jones Industrials are up 106 points.

 

Mike

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At the open:

The May corn futures trade 4 cents higher at $6.63 1/2. The May soybean contract is trading 15 cents higher at $13.49 1/2. The May wheat futures are trading 3 1/2 cents higher at $6.54 3/4.  The May soymeal futures are trading $3.20 per short ton higher at $365.20. The May soyoil futures are trading $0.83 higher at $54.79.
In the outside markets, the NYMEX crude oil is $0.40 per barrel lower, the dollar is higher and the Dow Jones Industrials are up 49 points.

 

Mike

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At 8:30am:

 

USDA announces that an 'unknown' buyer has purchased 240,000 mt of U.S. corn for 2011-12 delivery.

 

Mike

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At 6:25am:

--Japan seeks 135,724 mt of U.S. wheat Tuesday.

--Japan seeks 67,000 mt of food barley, wheat.

--Argentina sells 5.0 mt of corn to China Tuesday. What's interesting is the fact that the Argentine port strike is ongoing. That could boost U.S. exports, if it continues, some marketwatchers say.

--In its first quarter, China will import 12.5 mmt of soybeans, up 14.3% from a year ago.

--For 2011-2012, Brazil's soybean output is seen falling 9.3% vs. a year ago, according to a Dow Jones Newswire story Tuesday.

 

Mike

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At 6:15am:

Early calls: Corn 3-5 cents higher, soybeans 11-12 cents higher, and wheat 5-7 cents higher.

 

Trackers:
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.41 per barrel higher.
Dollar=Higher.
Wall Street=Seen trading higher on solid U.S. economic hopes. Plus, the Federal Reserve meets today. Not much news is expected to come from today's meeting.

World Markets=Higher.

 

 

More in a minute,

 

Mike

Senior Contributor
p-oed Farmer
Posts: 396
Registered: ‎05-04-2010
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Re: Floor Talk March 13

Mike...... Do you know if the Argentine grain exporters use the CBOT or do they use an internal exchange for there export business ?....... Was woundering if the China sales today might have been in the mix last week?..... Thanks..... p-oed

This information is worth what you payed for it...... :~)
Community Manager
marketeye
Posts: 3,034
Registered: ‎05-03-2010
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Re: Floor Talk March 13

I believe they use their own and the CME Group. Let me double-check on this for you though.

 

Mike

Senior Contributor
p-oed Farmer
Posts: 396
Registered: ‎05-04-2010
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Re: Floor Talk March 13

MMMMMM...... Where there is smoke there is fire...........Unknown...... China??????......p-oed

This information is worth what you payed for it...... :~)
Friend
ajdeana
Posts: 4
Registered: ‎03-13-2012
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Re: Floor Talk March 13

I'm little surprised that a spread W/C it's at this depressed level since one year. In the last report I see some good news for Wheat, but the market seems to be in fire only with the Corn: in this week I supposed was more important Informa and Usda, that a probably  purchase of China. Sorry for my english but I'm italian:smileyhappy:

Esteemed Advisor
sw363535
Posts: 4,227
Registered: ‎07-18-2011
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Re: Floor Talk March 13

I read it perfectly-------my wife is also Italian :smileyhappy:         Thanks for comment

sw
Community Manager
marketeye
Posts: 3,034
Registered: ‎05-03-2010
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Re: Floor Talk March 13

[ Edited ]

p-oed Farmer,

 

A contact of mine says Argentine farmers can use the Matba or the Bolsa de Buenos Aires.  Not sure if they can use Rosario.  But the Bolsa de Buenos Aires trades each day.

 

Hope this helps,

 

Mike

 

Advisor
johnaa
Posts: 3,728
Registered: ‎05-17-2010
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Re: Floor Talk March 13 KC wheat.

  Wheat is up in Chicago but down 6.4 march and 8.4 April.  Why is this?

Friend
ajdeana
Posts: 4
Registered: ‎03-13-2012
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Re: Floor Talk March 13 KC wheat.

In chicago is down too: -2,25 May

Friend
ajdeana
Posts: 4
Registered: ‎03-13-2012
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Re: Floor Talk March 13 KC wheat.

The crop condition rating for Kansas, Oklahoma and Texas are all well above last year.  Kansas saw its good to excellent rating up 3% this week to 53%.  Oklahoma improved by 4% to 66% good to excellent whole Texas was unchanged at 33%.