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marketeye
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Floor Talk October 14

[ Edited ]

VIDEO: See Why Farmers Like the Marketing Academy

 

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At the close:

The Dec. corn futures contract closed 3 3/4 cents higher at $4.37. The Nov. soybean futures contract finished 6 1/4 cents higher at $12.73. Dec. wheat futures ended 1/4 of a cent higher at $6.92 per bushel. The Dec. soymeal futures settled $4.00 per short ton higher at $407.40. The Dec. soyoil futures closed $0.11 higher at $40.39


In the outside markets, the NYMEX crude oil is $0.47 per barrel lower, the dollar is lower and the Dow Jones Industrials are 56 points higher.

 

 

Mike

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At mid-session:

The Dec. corn futures contract is trading 2 cents higher at $4.35. The Nov. soybean futures contract is trading 8 cents higher at $12.75. Dec. wheat futures are 1 cent lower at $6.91 per bushel. The Dec. soymeal futures is trading $4.90 per short ton higher at $408.30. The Dec. soyoil futures are trading $0.06 higher at $40.34. 


In the outside markets, the NYMEX crude oil is $0.88 per barrel lower, the dollar is lower and the Dow Jones Industrials are 27 points lower.

 

Jack Scoville, PRICE Futures Group vice-president, says the markets are trading with light volume.
"It is a slow to moderate volume trade today. Soybeans are the most active, with some buying tied to ideas of big buying in the last week by the Chinese."  
The talk is that China bought at least a million tons, but of course nothing has been confirmed, Scoville says.  
"Corn up a bit too, I think in sympathy with beans mostly. No real news for corn, although it also has some China buying rumors, maybe a million there too," Scoville says.  
The wheat is down on no demand, so far, and good conditions in the Prairies, he says.  
"Brazil might still be buying wheat but the rumor mill is more quiet there.  Beans giving back some gains, maybe a bit of farm-selling."

 

Mike

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At the open:

The Dec. corn futures contract is trading 1/4 of a cent lower at $4.33. The Nov. soybean futures contract is trading 6 cents higher at $12.73. Dec. wheat futures are 4 cents lower at $6.88 per bushel. The Dec. soymeal futures is trading $2.70 per short ton higher at $406.10. The Dec. soyoil futures are trading $0.10 higher at $40.38. 


In the outside markets, the NYMEX crude oil is $0.88 per barrel lower, the dollar is lower and the Dow Jones Industrials are 82 points lower.

 

Mike

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At 7:35 am:

Early calls: Corn is seen 1-2 cents lower, soybeans 3-5 cents higher, and wheat 5-7 cents lower.

Trackers:
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.69 per barrel lower.
Dollar=Lower.
Wall Street=Seen trading lower, as debt deadline nears.

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

 


More in a minute,

 

Mike