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Community Manager
marketeye
Posts: 2,893
Registered: ‎05-03-2010
0

Floor Talk November 13

[ Edited ]

UPDATE: Price Reduced: VIDEO: See Why Farmers Like the Marketing Academy

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At the close:

The Dec. corn futures contract settled 2 1/4 cents lower at $4.29 3/4. The Nov. soybean futures contract finished 1/4 of a cent higher at $13.19. Dec. wheat futures finished 1/4 ofa cent higher at $6.45 per bushel. The Dec. soymeal futures contract closed $4.40 per short ton lower at $423.30. The Dec. soyoil futures ended $0.21 higher at $40.96.
In the outside markets, the NYMEX crude oil is $0.99 per barrel higher, the dollar is lower and the Dow Jones Industrials are 11 points higher.

 

Mike

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At mid-session:

The Dec. corn futures contract is trading 2 1/4 cents lower at $4.30. The Nov. soybean futures contract is trading 5 cents lower at $13.14. Dec. wheat futures are 3 1/4 cents higher at $6.48 per bushel. The Dec. soymeal futures contract is trading $6.50 per short ton lower at $421.20. The Dec. soyoil futures are trading $0.21 higher at $40.96.
In the outside markets, the NYMEX crude oil is $1.25 per barrel higher, the dollar is lower and the Dow Jones Industrials are 53 points lower.

 

One analyst sizes up today's trade like this: "With no grain reports and corn based energy reports delayed until Thursday, there's no fresh news to fuel trading. So, we're trading between chart support and resistance. It's all technical."

 

 

On another matter, did you see yesterday's notice from the CME Group? Higher trading fees are ahead in 2014.

 

Amongst a number of rate increases, the CME Group will raise the exchange fee rate for non-members to trade futures and options. The  will increase by 5 cents to 65 cents per contract in open-outcry pits and by 14 cents to $1.89 in electronic markets.

 

What do you think? Do you care?

 

Mike

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At the open:

The Dec. corn futures contract is trading 1 1/4 cents higher at $4.33.. The Nov. soybean futures contract is trading 4 3/4 cents lower at $13.14. Dec. wheat futures are 3 cents higher at $6.48 per bushel. The Dec. soymeal futures contract is trading $2.80 per short ton lower at $424.90. The Dec. soyoil futures are trading $0.09 higher at $40.84.
In the outside markets, the NYMEX crude oil is $0.29 per barrel higher, the dollar is higher and the Dow Jones Industrials are 67 points lower.

 

Mike

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At 8am:

--USDA announces Wednesday that China bought 123,000 tons of U.S. soybeans.

 

Mike

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At 7:50am:

--Japan seeks 129,445 tons of milling wheat. Some of it will be of U.S. origin.

----FSA updated Oct. & Nov. U.S. prevent planted acreage estimates. Corn acres are estimated at 3.616 million and soybeans at 1.7 million. Both are up slightly from FSA's previous estimates.

--Russia is exporting most of its grains to Turkey.

 

What say you?

 

Mike

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At 7:00am:

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

Trackers:
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.24 per barrel higer.
Dollar=Higher.

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

 


More in a minute,

 

Mike

Advisor
jennys_mn
Posts: 852
Registered: ‎07-19-2010
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Re: Floor Talk November 13

Why is the FSA still dicking with the PP numbers? It's no wonder the FSA gets a bad rap when it comes to the numbers they put out.

Jen
Veteran Advisor
roarintiger1
Posts: 1,426
Registered: ‎04-29-2011
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Re: Floor Talk November 13

Those numbers should've come out and made public in August.......

"Failing to prepare is preparing to fail." "Success happens when preparation meets opportunity"
Community Manager
marketeye
Posts: 2,893
Registered: ‎05-03-2010
0

Re: Floor Talk November 13

roarintiger1,

 

Some folks like to see yield breakdowns by regions. Here's a map of districts in Illinois:

 

BY5MioOCIAA_rWP.jpg

courtesey of AllianceGrainCo