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Veteran Contributor
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Registered: ‎09-09-2014
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Floor Talk September 6

[ Edited ]

At the close:

At the close, the Dec. corn futures finished 2 1/2¢ higher at $3.61, while March futures finished 2 1/2¢ higher at $3.73. Nov. soybean futures settled 2 1/2¢ higher at $9.71, Jan. soybean futures settled 2 1/2¢ higher $9.80 3/4. September wheat futures ended 2 3/4¢ higher at $4.45 3/4. Dec. soy meal futures finished $0.70 per short ton higher at $308.70. Dec. soy oil futures are $0.12 higher at 35.56¢ per pound.  In the outside markets, the Brent crude oil market is $0.41 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 82 points higher.

 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are 2 1/2¢ higher at $3.61, while March futures are 2 1/2¢ higher at $3.73. Nov. soybean futures are 5 3/4¢ higher at $9.74, Jan. soybean futures are 5 1/2¢ higher $9.83. September wheat futures are 3 1/4¢ higher at $4.46. Dec. soy meal futures are $1.60 per short ton higher at $309.60. Dec. soy oil futures are $0.23 higher at 35.67¢ per pound.  In the outside markets, the Brent crude oil market is $0.68 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 53 points higher.

 

Mike

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At 9:41am:

If you missed it, the USDA released fresh exports Wednesday. Here are the numbers;

 

Private exporters reported to the U.S. Department of Agriculture export sales of 253,300 metric tons of corn for delivery to Mexico during the 2017/2018 marketing year.

The marketing year for corn began Sept. 1.

 

Mike

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At 9am:

In early trading , the Dec. corn futures are 1 1/4¢ lower at $3.57, while March futures are 1 1/4¢ lower at $3.69. Nov. soybean futures are 3 3/4¢ higher at $9.72, Jan. soybean futures are 3 3/4¢ higher $9.82. September wheat futures are 2¢ lower at $4.41. Dec. soy meal futures are $1.10 per short ton higher at $309.10. Dec. soy oil futures are $0.12 higher at 35.56¢ per pound.  In the outside markets, the Brent crude oil market is $0.36 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 70 points higher.

 

Mike

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Corn and beans were lower despite the crop progress report that showed maturity is still well behind the average pace for this time of year -- only 12% of the corn crop was mature versus the prior five-year average of 18%. It seems investors grew weary of the rally in which corn has gained nearly 20 cents and soybeans rose more than 40 cents in the past three days. Investors and hedgers took their profits and ran, according to analysts. Still, the declines were pretty tame overnight and there's concern about the crop so it's not all doom and gloom this morning. In weather news, Hurricane Irma is making its way through the Caribbean islands -- next up is St. Martin. The storm, a Cat 5 hurricane with sustained winds of 185 miles an hour, is expected to hit Florida sometime on Sunday if it keeps its current path. Not too far behind that is Jose, which is expected to strengthen into a hurricane today. Check out all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-september-6

  

Here's what happened overnight:

 

Brent Crude Oil = up 1.4%

West Texas Intermediate = up 0.9%

Dollar = down 0.1%.

Wall Street = U.S. stock futures higher in pre-market trading.

World Markets = Global stocks mixed on stronger oil, geopolitical fears.

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Senior Contributor
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Registered: ‎08-02-2012
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Re: Floor Talk September 6

Go figure