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Community Manager
marketeye
Posts: 3,218
Registered: ‎05-03-2010
0

Floor Talk November 23

[ Edited ]

At the close, the Dec. futures corn contract settled 4 cents higher at $7.45. Jan. soybean futures contract closed 10 cents higher at $14.18. Dec. wheat futures finished 2 cents higher at $8.47 per bushel. The Dec. soyoil futures contract is trading $0.49 higher at $49.32. The Jan. soymeal futures contract settled 0.70 per short ton higher at $428.60.


In the outside markets, the NYMEX crude oil is $1.22 per barrel higher, the dollar is lower and the Dow Jones Industrials are 172 points higher.

 

Mike

-----------

At 11am:

Soybeans are up 8¢, wheat and corn are up 4¢.

 

Weird weather, this morning. Moments ago, snow flurries fell lightly. Minutes later the sun came out.

 

Mike

--------

At the open:

At the open, the Dec. futures corn contract is trading 6 cents higher at $7.47. Jan. soybean futures contract is trading 16 cents higher at $14.24. Dec. wheat futures are trading 8 cents higher at $8.53 per bushel. The Dec. soyoil futures contract is trading $0.55 higher at $49.08. The Dec. soymeal futures contract is trading $6.50 per short ton higher at $434.40.


In the outside markets, the NYMEX crude oil is $1.22 per barrel higher, the dollar is lower and the Dow Jones Industrials are 113 points higher.

 

 

Mike

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

At 8:20am:

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

 

Trackers:
Overnight grain, soybean markets=No overnight trading.
Crude Oil=$1.22 per barrel higher.
Dollar=Steady.
Wall Street=Seen opening higher.

World=Asia/Pacific stocks are mixed-to-higher, and Europe's stocks are higher.

 


USDA releases bullish Weekly Export Sales Report Friday:

 

Corn= 958,600 mt vs. the trade's expectations of 250-500,000
Soybeans= 543,600 mt vs. the trde's expectations of 400,000-650,000
Wheat=657,400 mt vs. the trade's expectations of 200,000-450,000.
Soymeal=197,900 vs. the trade's expectations of 200,000-300,000.

 

USDA announces Friday that an 'unknown' buyer picked up 20,000 mt of U.S. soyoil.

 

 

More in a minute,

 

 

Mike

Veteran Advisor
Mizzou_Tiger
Posts: 2,337
Registered: ‎11-02-2010
0

Re: Floor Talk November 23

DEMAND!!!!!!

Esteemed Advisor
sw363535
Posts: 4,772
Registered: ‎07-18-2011
0

Re: Floor Talk November 23

Good news Mike.

 

Step on the scales yet??  Did consumption rise at your house?

sw
Community Manager
marketeye
Posts: 3,218
Registered: ‎05-03-2010
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Re: Floor Talk November 23

sw36535,

 

I went back for seconds. Just like the Weekly Export Sales Report showed this morning, protein demand is up at the Thanksgiving dinner I attended. And you?

 

Mike

Advisor
giolucas
Posts: 1,149
Registered: ‎06-25-2010

Re: Floor Talk November 23

Since consumption is up, I hear the plumbers are in demand.   :smileyhappy:

Esteemed Advisor
sw363535
Posts: 4,772
Registered: ‎07-18-2011
0

Re: Floor Talk November 23

Mike,

 

Trimmed the load a little this year. One trip was enough.  Not carrying the work load I used to so a little less fuel is ok.  Hoping for a little more mileage.

 

Plenty thankful,  Got a list,  And the readers and crew at Successful Farming/ Ag.com are on it.  Thank you, Mike.

sw
Esteemed Advisor
Hobbyfarmer
Posts: 4,108
Registered: ‎01-10-2012
0

Re: Floor Talk November 23

Gold and silver up nicely too this morning. 

 

Very hard for me to get the lack of value of our currency out of my head when pricing my grain.

 

Been to the machinery parts counter lately?

 

On my little "drive about" last week I saw piles of grain under tarps. Just not very many compaired to "normal" and many empty outside storage areas that in an average year would be full this time of year. Many only had one end full etc.

 

Got a tour of a 60,000 hd feedlot that only had 2 out of three bunkers full of grain. One never filled this year.

 

With no end of dry weather in sight SA needs to raise a good crop just to keep the world on an even keel as we do not have a bin buster crop in reserve and the prospects are going to be down to "just in the nick of time" rains to pull through next year.

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."
Community Manager
marketeye
Posts: 3,218
Registered: ‎05-03-2010
0

Re: Floor Talk November 23

sw363535,

 

Thank you. We appreciate your activity and involvement in Marketing Talk. What is it that we can do that we are not doing right now, to help you with your marketing? I would be thankful for your thoughts.

 

Thanks,

 

Mike

 

Esteemed Advisor
sw363535
Posts: 4,772
Registered: ‎07-18-2011
0

Re: Floor Talk November 23

Giolucas,

 

Great point, and that reminds me,  The marketing site is not much unless it is a meeting of producers, Managers,  financial & technical traders-------in short a variety of knowledge and views.  Market "experts" can be compared to the plumbers of "Marketing"------those who thump us with the right tools when the pipes are getting clogged. 

Coming from one of the guys who has a tendency to clog pipes--------------- Thank you for what you add here.  Whether your in Houston, Chicago, Ohio, Canada, the Palouse, sitting on a tractor with knowledge of how to work your phone in Illinois, or following a bad football team in that state in the middle----Thank you.

sw
Senior Contributor
SouthWestOhio
Posts: 519
Registered: ‎05-13-2010
0

Re: Floor Talk November 23

[ Edited ]

sw, although Cincy is faring a little better it's fun imagining myself farming cranberries on Cape Cod just so I could root for the Pats.

 

Know what you mean about clogged pipes. I get sidetracked during harvest and don't commit enough time to follow the markets. Last few days I've been trying to get caught up on reading but lordy there sure are a lot of different spins out there and then they throw this big corn export number at us this morning. Maybe I'll still have a chance to take $8 for some of this year's meager corn crop (44 bu/ac).

 

I too appreciates reading thoughts from all sides of the trade and both sides of the aisle.