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10-25-2013 08:05 AM - edited 10-25-2013 02:27 PM
At the close:
The Dec. corn futures contract closed 1/4 of a cent lower at $4.40. The Nov. soybean futures contract closed 9 3/4cents lower at $13.00. Dec. wheat futures settled 5 3/4 cents lower at $6.90 3/4 per bushel. The Dec. soymeal futures contract settled $2.50 per short ton at $423.50. The Dec. soyoil futures ended $0.40 lower at $40.73.
In the outside markets, the NYMEX crude oil is $0.74 per barrel higher, the dollar is lower and the Dow Jones Industrials are 29 points higher.
Looking Ahead: Tim Hannagan, Walsh Trading grain analyst, says the Nov. 8 Crop Report could pack a negative punch. "Corn and beans have dropped appreciably since the last report Sept. 11. If the November report comes in as bearish as expected, its low price results will be a harvest season low followed by a demand driven market. With corn demand not yet bullish enough to drive prices up on its own, corn may yet make another new low as the November 8 report gives cause. Beans are unlikely to take out the 11.65 low as harvest will be over before November 8. Without weekly harvest results to sell, traders will only have the strong export pace to trade. The report day break won’t last and should be a great buying opportunity," he says.
The Dec. corn futures contract is trading 1/4 of a cent higher at $4.40. The Nov. soybean futures contract is trading 2 1/4cents lower at $13.07. Dec. wheat futures are 4 1/2 cents lower at $6.92 per bushel. The Dec. soymeal futures contract is trading unchanged at $426.00. The Dec. soyoil futures are trading $0.11 lower at $41.02.
In the outside markets, the NYMEX crude oil is $0.38 per barrel higher, the dollar is higher and the Dow Jones Industrials are 10 points higher.
At the open:
The Dec. corn futures contract is trading 1/4 of a cent higher at $4.40. The Nov. soybean futures contract is trading 4 cents lower at $13.05. Dec. wheat futures are 3 cents higher at $6.99 per bushel. The Dec. soymeal futures contract is trading $1.70 per short ton lower at $424.30. The Dec. soyoil futures are trading $0.03 lower at $41.10.
In the outside markets, the NYMEX crude oil is $0.49 per barrel higher, the dollar is higher and the Dow Jones Industrials are 13 points higher.
Early calls: Corn is seen 1-2 cents lower, soybeans 2-4 cents lower, and wheat 2-4 cents higher.
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.25 per barrel higher.
Wall Street=Seen trading lower, with Asian marketpressure.
World Markets=Asia/Pacific stocks were lower, Europe stocks higher.
More in a minute,
10-25-2013 09:03 AM
Well......I know some folks that are still bullish beans. But, I just heard from my Brazilian contacts, this morning, and they say the planting progress is speeding ahead. And that will not be seen as market-friendly. Keep in mind, in Brazil, the mentality of planting soybeans is much like the corn planting mentality in the U.S., if the weather is right and the soil is right, they will just keep pouring those soybean seeds into the ground. So, perhaps they plant even more soybeans than the record amount that has been projected?
Oh yeah, you said you had some beans to sell. sorry. There's no carry. The market is telling you to sell now. I have a wonderful idea. You enroll in The Successful Farming Marketing Academy
and let's help you design a marketing plan for those soybeans. What do you say? I'm serious. You can be more at ease about marketing those soybeans. Let's help you in a meaningful way. What do you say?
10-25-2013 02:14 PM
while they might be planting a gazillion soybeans in SA this fall, until next spring, world supply will be scarce - US likely to be 90% sold by end of 1st quarter?..
...so we have 3-4 months of short supplies....even you have to admit (don't you?), things could become interesting.
--chart patterns notwithstanding.
10-25-2013 02:20 PM - edited 10-25-2013 07:01 PM
MarketEye: this would be a wonderful opportunity for you to demonstrate a sample of your marketing system for the skeptics amonst us.
Help him max out on the returns on his crop he wants to sell.
give us a small sample of steak.
So far it has been all sizzle... NO STEAK.
10-25-2013 02:31 PM
I'm assuming here that ME stands for Marketeye? Or, are you having some other code message with somebody else on the site? Are you asking for me to supply some concrete material that shows the benefits of the Marketing Academy? I'm not quite sure of your comment. Thanks for any further explanation.
10-26-2013 09:09 PM
Keep in mind that I am a reporter not an analyst, trader or broker. Having said that, I would sell something on the rallies. I don't know your storage capacity, but you could sell cash and buy the beans back in paper with futures. But, there is more risk involved. Do you have a financial institution to back some involvement in the futures market? If so, you have more marketing options. If not, ask yourself what level of risk you can sleep with. Selling just enough to pay approaching bills is not a bad approach. You should have crop insurance, right? Hoe is that going to work out for you this year? What's your break-even? What costs do you have in thid crop? Are you trying to hit a homerun [using marketing to enhance price] or are you trying to manage risk? Treefmr, I hope this helps you begin to consider some of the issues that could help you make a more educated decision on whether to sell or not. History shows a January rally. And what about the harvest lows. Do you think we have seen them yet?