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Community Manager
marketeye
Posts: 3,038
Registered: ‎05-03-2010
0

Floor Talk October 5

[ Edited ]

At 12-Noon:

Weather Alert:

The latest weather models show a hard freeze, next week, for the eastern Corn Belt.

 

How would this affect your crops?

 

Thanks for sharing,

 

Mike

---------

At the close:

The Dec. futures corn contract settled 9 cents lower at $7.48. Nov. soybean futures contract ended unchanged at $15.51. Dec. wheat futures settled 11 3/4 cents lower at $8.57 per bushel. The Dec. soyoil futures contract ended $0.25 lower at $51.19. The Dec. soymeal futures contract settled $2.30 per short ton higher at $471.20.


In the outside markets, the NYMEX crude oil is $1.88 per barrel lower, the dollar is lower and the Dow Jones Industrials are 34 points higher.

 

 

Mike

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

At mid-day:

The Dec. futures corn contract is trading 9 cents lower at $7.48. Nov. soybean futures contract is trading 9 cents higher at $15.61. Dec. wheat futures are trading 7 cents lower at $8.62 per bushel. The Dec. soyoil futures contract is trading $0.01 higher at $51.43. The Dec. soymeal futures contract is trading $5.20 per short ton higher at $474.10.


In the outside markets, the NYMEX crude oil is $2.56 per barrel lower, the dollar is lower and the Dow Jones Industrials are 57 points higher.

 

Mike

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

At 11:00am:

Informa released updated U.S. crop estimates Friday. What do you think?

 

Corn=11.94 billion bushels

Yield=127.0 bu./acre

 

Soybeans=2.860 billion bushels

Yield=37.8 bu./acre

 

Mike

---------

At the open:

The Dec. futures corn contract is trading 5 cents lower at $7.51. Nov. soybean futures contract is trading 1 cent lower at $15.50. Dec. wheat futures are trading 1 cent lower at $8.67 per bushel. The Dec. soyoil futures contract is trading $0.05 higher at $51.39. The Dec. soymeal futures contract is trading $0.90 per short ton higher at $470.00.


In the outside markets, the NYMEX crude oil is $1.32 per barrel lower, the dollar is lower and the Dow Jones Industrials are 83 points higher.

 

Mike

-----------

At 7:25am:

Who's Keeping Track? In October, the average prices of the Dec. '12 and Nov. '12 contracts will determine how fat or skinny the crop insurance check will be.

 

To date, the average for December Corn is at $7.56 ¾. For November Soybeans it is at $15.38.

 

 

Mike

---------

At 7:00am:

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

 

Trackers:
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.86 per barrel lower.
Dollar=Higher.
Wall Street=Seen opening higher as investors await the U.S. Jobs Report.

World=Higher.

 


More in a minute,

 

 

Mike

Advisor
jrsiajdranch
Posts: 2,117
Registered: ‎05-03-2010
0

Re: Floor Talk October 5

Wall Street=Seen opening higher as investors await the U.S. Jobs Report.

 

Think about that! How upside down are the markets right now.  Used to be before the digital printing press was pressed into overtime that the potential upstick in jobless claims would drive the mkt. lower. BUt now that is just another reason to prime the pump.

 

We are screwed!

Senior Advisor
kraft-t
Posts: 10,715
Registered: ‎05-10-2010
0

Re: Floor Talk October 5

Why are we screwed? Was you hoping for less employment?

Frequent Contributor
Redpower410280
Posts: 46
Registered: ‎05-13-2010
0

Re: Floor Talk October 5

Can I get some of what informa is smokin it must be some good stuff. Must be why ive have several end users calling to buy corn this week been offered.20 over wonder why they are offering that with that big of a crop.
Veteran Advisor
Mizzou_Tiger
Posts: 2,200
Registered: ‎11-02-2010
0

Re: Floor Talk October 5

what do I think.........

 

I think you now owe me a new smartphone.........because I just blew soda all over mine after I saw we are going to raise just shy of what we did last year for corn................

 

o and they are f-ing nuts...........

 

thats pretty much it...........

 

I have come to the conclusion this AM that the world has officially gone mad...............its all downhill from here.........

Veteran Contributor
toughguy189
Posts: 82
Registered: ‎12-20-2011
0

Re: Floor Talk October 5

I read an article in the Aurora News Register that stated that the local coop is shipping corn by truck and by rail from their Aurora location to Iams dog food plants in Ohio and North Carolina, with special attention being paid to aflotoxin tests on every load. I don't think the crop is there and there are definitely end users that are concerned with the quality of the corn that is out there.

Veteran Advisor
Mizzou_Tiger
Posts: 2,200
Registered: ‎11-02-2010
0

Re: Floor Talk October 5

Mike...........thats gotta be a misprint.........

 

that means 94M harvested acres at 127..............

 

you sure its not 10.94????????????

 

 

Community Manager
marketeye
Posts: 3,038
Registered: ‎05-03-2010
0

Re: Floor Talk October 5

no misprint.

 

Mike

Advisor
rayjenkins
Posts: 638
Registered: ‎05-13-2010
0

Re: Floor Talk October 5

the Informa number is 11.194

 

you can hold off on ordering a double dose of meds

Esteemed Advisor
Hobbyfarmer
Posts: 3,643
Registered: ‎01-10-2012
0

Re: Floor Talk October 5

"The latest weather models show a hard freeze, next week, for the eastern Corn Belt.

 

How would this affect your crops?"

 

100512951045[00].jpg

 

See the green? These were combined at a very slow speed yesterday evening.

9% and popping open. Looking forward to a Killing out here in South Podunk Country

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."