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Community Manager
marketeye
Posts: 2,889
Registered: ‎05-03-2010
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Floor Talk October 17

[ Edited ]

VIDEO: See Why Farmers Like the Marketing Academy

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NOTICE:  USDA Cancels October WASDE Report!

 

The U.S. Department of Agriculture today announced that the National Agricultural Statistics Service (NASS) and World Agricultural Outlook Board (WAOB) have cancelled or postponed publication of selected USDA statistical reports impacted by the lapse in federal funding, according to a USDA press release.

 

NASS's Crop Production and Cotton Ginnings reports and the WAOB's World Agricultural Supply and Demand Estimates (WASDE) scheduled for October 11th are canceled. The next scheduled release for these reports is November 8, 2013. Additionally, NASS's Crop Progress reports scheduled for October 7th and 15th are cancelled. NASS's Cattle on Feed and Peanut Prices reports scheduled for October 18th are postponed.

 

While the lapse in federal funding has ended, NASS has not been able to engage in the necessary data collection and analysis over the past few weeks. NASS is assessing its data collection plans and evaluating the timing of upcoming reports.

 

Mike

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At the close:

The Dec. corn futures contract settled 1/4 of a cent higher at $4.43. The Nov. soybean futures contract settled 16 cents higher at $12.93. Dec. wheat futures ended 11 cents lower at $7.44 per bushel. The Dec. soymeal futures contract finished $9.20 per short ton higher at $413.00. The Dec. soyoil futures ended $0.25 lower at $41.12. 


In the outside markets, the NYMEX crude oil is $1.53 per barrel lower, the dollar is lower and the Dow Jones Industrials are 44 points lower.

 

Dustin Johnson, eHedger grain analyst, says that the debt ceiling increase has resulted in a sharp decline of the US Dollar Index, and that is the most important fundamental providing support right now.  
"The overall commodity and equity markets are back to a "risk-on" mentality and the funds have been buying beans selling corn for quite some time, I think this is just a continuation of that spread.  Other headlines might point out that the soy export inspections were strong but that information should have already been built into the market," Johnson says.

 

Mike

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At mid-session:

The Dec. corn futures contract is trading 1cents higher at $4.43. The Nov. soybean futures contract is trading 16 cents higher at $12.93. Dec. wheat futures are 9 cents higher at $6.90 per bushel. The Dec. soymeal futures contract is trading $9.20 per short ton higher at $413.00. The Dec. soyoil futures are trading $0.20 lower at $41.17. 


In the outside markets, the NYMEX crude oil is $1.52 per barrel lower, the dollar is lower and the Dow Jones Industrials are 48points lower.

 

 

Mike

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At the open:

The Dec. corn futures contract is trading 3 3/4 cents higher at $4.46. The Nov. soybean futures contract is trading 9 3/4 cents higher at $12.85. Dec. wheat futures are 9 cents higher at $6.90 per bushel. The Dec. soymeal futures contract is trading $3.70 per short ton higher at $407.50. The Dec. soyoil futures are trading $0.17 higher at $41.54. 


In the outside markets, the NYMEX crude oil is $1.36 per barrel lower, the dollar is lower and the Dow Jones Industrials are 99 points lower.

 

Mike

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At 7:35 am:

Early calls: Corn is seen 2-4 cents higher, soybeans 3-5 cents higher, and wheat 5-7 cents higher.

Trackers:
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.57 per barrel lower.
Dollar=Lower.
Wall Street=Seen trading lower, despite the U.S. Government set to reopen January 15th.

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

 


More in a minute,

 

Mike

Senior Contributor
tree fmr
Posts: 314
Registered: ‎06-04-2010
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Re: Floor Talk October 17

Marketeye, I think you mean the government is set to reopen UNTIL Jan 15!

Keep up the great work, going to get interesting with the government open.

 

The pics I promised:

sasebo 001.JPG

 

Drying rice like this I am told gives it a better taste, thus the farmer gets a premium.  Of course this is all done by hand so is labor intensive.  Dries for 1 week in perfect weather, of course longer if it rains, humid, etc.

sasebo 003.JPG

 

sasebo 004.JPG

 

 

Senior Contributor
too close for comfort
Posts: 208
Registered: ‎05-11-2010
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Re: Floor Talk October 17

Thanks for those pictures tree fmr. A question, do they rotate crops with the rice?

Senior Contributor
tree fmr
Posts: 314
Registered: ‎06-04-2010
0

Re: Floor Talk October 17

Mostly no. They burn the straw off the fields and right back to rice. IMO lack of disease and insect problems is because the fields are being flushed with water throughout the growing season. I will have to ask around about this though.

A few will rotate with vegetables.
Senior Advisor
sw363535
Posts: 4,006
Registered: ‎07-18-2011
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Re: Floor Talk October 17

Burning cures a lot of problems also.

sw
Veteran Contributor
Kstater85
Posts: 109
Registered: ‎06-28-2012
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Re: Floor Talk October 17

Export sales from USDA at 10 am CST today.

Advisor
jrsiajdranch
Posts: 2,100
Registered: ‎05-03-2010
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Re: Floor Talk October 17

Well let's see ,....... borrow more money,......... make your one assert you have worth less,........ now it takes more to buy the same ......... as the price of corn goes higher do not expect profits to be what they have been........remember corn is a leading indicator. At some point the rest of the costs grab everything.