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Community Manager
marketeye
Posts: 3,052
Registered: ‎05-03-2010
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Floor Talk September 26

[ Edited ]

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At the close:

The Dec. corn futures contract settled 2 cents higher at $4.56. The Nov. soybean futures contract closed 5 cents lower at $13.16. Dec. wheat futures ended 8 cents higher at $6.78 per bushel. The Dec. soymeal futures closed $2.20 per short ton lower at $414.90. The Dec. soyoil futures finished $0.04 lower at $42.05. 


In the outside markets, the NYMEX crude oil is $0.22 per barrel lower, the dollar is higher and the Dow Jones Industrials are 19 points higher.

 

Mike

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At mid-session:

The Dec. corn futures contract is trading 1 1/2 cents lower at $4.53. The Nov. soybean futures contract is 4 1/2 cents lower at $13.17. Dec. wheat futures are trading 5 3/4 cents higher at $6.76 per bushel. The Dec. soymeal futures are trading $1.80 per short ton lower at $415.30. The Dec. soyoil futures are trading $0.11 lower at $41.98. 


In the outside markets, the NYMEX crude oil is $0.37 per barrel higher, the dollar is higher and the Dow Jones Industrials are 33 points higher.

 

Mike

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At 9:50am:

 

Corn is trading unchanged, trying to get into positive territory. Wheat is up 5 cents. Soybeans are down 3 cents.

 

Mike

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At the open:

The Dec. corn futures contract opened 2 1/2 cents lower at $4.52. The Nov. soybean futures contract opened 6 cents lower at $13.15. Dec. wheat futures started 1 cent higher at $6.72 per bushel. The Dec. soymeal futures opened $1.80 per short ton lower at $415.30. The Dec. soyoil futures opened $0.24 lower at $41.84. 


In the outside markets, the NYMEX crude oil is $0.43 per barrel higher, the dollar is higher and the Dow Jones Industrials are 26 points higher.

 

Mike

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At 7:55am:

USDA released its Weekly Export Sales Thursday:

 

Corn=640,000 mt vs. the trade's expectations of 400,000-700,000 mt.

 

Soybeans=2.82 million mt. vs. the trade's expectations of 1,000,000-3,100,000 metric tons.

 

Wheat=620,200 mt vs. the trade's expectations of 550,000-850,000 metric tons.

 

 

Mike

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At 5:40am:

 

USDA pre-Report Previews:

 

-Lower USDA Carryouts Seen

 

-Wheat Production Seen Rising

 

And, here are a few pre-report thoughts from a CME Group floor trader source:

 

"Little intrigue with the stocks, except for wheat, where we are curious to see if HRW feeding was larger than anticipated. With the large inverse in corn basis, we assume we fed a lot of wheat. It's consumption we can’t ration, as it has already happened. So, if the HRW stocks come in light, below 788 million bushels, then perhaps wheat can stage a larger rally.
Anecdotal field reports on soybeans are sounding better this week. So, that creates a little more confusion into Oct 11 report. I am a soybean bull, but waiting for harvest bear seasonal to abate. I will most likely be long beans going into the Oct 11th report."

 

Mike

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At 5:25am:

Early calls: Corn is seen 1-2 cents lower, soybeans 6-8 cents lower, and wheat 1-2 cents higher.

Trackers:
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.05 per barrel higher.
Dollar=Higher.
Wall Street=Seen trading lower on Wal-Mart's poor earnings and the government cliff talk.

World Markets=Asia/Pacific stocks were meandoring to mixed, Europe stocks mixed-to-lower.

 


More in a minute,

 

Mike

Contributor
kinderb
Posts: 10
Registered: ‎01-17-2011
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Re: Floor Talk September 26

[ Edited ]

Mike, What is the largest amount of grain ever reported sold in one week? If beans would have made the 3.1 mark, would that have  been a record or not?

Senior Contributor
highyields
Posts: 774
Registered: ‎06-04-2010
0

Re: Floor Talk September 26

We aren't going to have enough beans.  is it still dry in south america??   

 

I'm still pushing for my $20 beans.   

Senior Contributor
luisvieira
Posts: 218
Registered: ‎04-24-2012
0

Re: Floor Talk September 26

 

 

 

This image above is from Climatempo, a meteorology service from Brazil. As you may see, the humidity level is better in Mato Grosso, but is still bad in Mato Grosso do Sul and Goiás. Rains occurred in several regions of Mato Grosso in the last two weeks. The weather forecast is predicting more rains in the center-western part of Brazil.

Community Manager
marketeye
Posts: 3,052
Registered: ‎05-03-2010
0

Re: Floor Talk September 26

Luis,

 

The yellow circle includes the following states:

Northeast part of the state of Mato Grosso do Sul, the southwest corner of Gioas, and the western edge of Mineas Mina Gerais.

 

So, these areas remain hot and dry?

 

Thanks,

 

Mike

Community Manager
marketeye
Posts: 3,052
Registered: ‎05-03-2010
0

Re: Floor Talk September 26

Kinderb,

 

Great question. Let me fish for some more information.

 

Mike

Advisor
c-x-1
Posts: 3,085
Registered: ‎06-26-2012
0

Re: Floor Talk September 26

[ Edited ]

SA will need some rain...and we thought midwest had become dry...these are both - last 3 months - from Univ. College London - Global drought monitor.

 

Current Drought Conditions
September 2013
Data updated on the 16th of each month
 
 
 
scalebar (km)
 
Current Drought Conditions
September 2013
Data updated on the 16th of each month
 
 
scalebar (km)
Senior Contributor
luisvieira
Posts: 218
Registered: ‎04-24-2012
0

Re: Floor Talk September 26

I guess yes, Mike. Rain is about to come to these parts as well.