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marketeye
Veteran Advisor

Floor Talk August 11

At the close:

At the close, the Sept. corn futures settled 13 3/4 cents lower at $3.76, Dec corn futures finished 13 1/2 cents lower at $3.87 1/2. 

Sept. soybean futures settled 27 1/4 cents lower at $9.81. Nov. soybean futures finished 23 cents lower at $9.71 1/2.

Sept. wheat futures closed 18 cents lower at $5.07 1/4.

Sept. soymeal futures finished $11.90 per short ton lower at $341.70. Aug. soyoil futures ended $0.33 lower at $30.16. 

In the outside markets, the Brent Crude oil market is $1.42 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 231 points lower.

Mike

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At mid-session:

At mid-session, the Sept. corn futures are trading 11 cents lower at $3.79, Dec corn futures are 11 cents lower at  $3.89. 

Sept. soybean futures are trading 21 1/2 cents lower at $9.86. Nov. soybean futures are trading 18 3/4 cents lower at $9.75.

Sept. wheat futures are 17 1/2 cents lower at $5.08.

Sept. soymeal futures are trading $7.50 per short ton lower at $346.10. Aug. soyoil futures are trading $0.67 lower at $29.82. 

In the outside markets, the Brent Crude oil market is $1.66 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 230 points lower.

Mike

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At the open:

At the open, the Sept. corn futures are trading 6 cents lower at $3.84, Dec corn futures are 6 cents lower at  $3.94. 

Sept. soybean futures are trading 13 cents lower at $9.95. Nov. soybean futures are trading 13 cents lower at $9.81.

Sept. wheat futures are 9 cents lower at $5.16.

Sept. soymeal futures are trading $3.90 per short ton lower at $349.70. Aug. soyoil futures are trading $0.57 lower at $21.92. 

In the outside markets, the Brent Crude oil market is $0.91 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 151 points lower.

Mike

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At 7:45am:

The trade is watching to see if the funds will be buying again today. They buy in 3-day increments, with today being day-3. It is estimated that funds, yesterday, purchased over 13,000 contracts of soybeans and over 30,000 corn. However, some believe that since the futures floor trading closed, it's getting harder to get real numbers on fund purchases.

 

 

Mike

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 At 6:50am:

 

Early calls: Corn 3-5 cents lower, soybeans 12-14 cents lower, and wheat 3-5 cents lower.

 

Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.75 lower.
Dollar =Lower.  
Wall Street = Seen lower, pressured by China devaluing its currency.

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

 

 

 

More in a minute,

 

Mike

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4 Replies
sw363535
Honored Advisor

Re: Floor Talk August 11

Jim W, 

 

What is the potential of that field.  Looks like it is drying out early and has weak areas ......... maybe 150 tops????

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marketeye
Veteran Advisor

Re: Floor Talk August 11

sw363535,

 

I moved that post out because it looked like he had trouble posting the message. Jim, you might just summarize what you were trying to say, but you repeated a lot of stuff.

 

Mike

 

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sw363535
Honored Advisor

Re: Floor Talk August 11

understood, Mike

 

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elcheapo
Veteran Advisor

Re: Floor Talk August 11

eagle eye, i think you made a bigger statement than you realize, and is a news story in and of it self......"with the closing of the floor, difficult to get an idea of true numbers of commericals". doesn't this bother anyone ? less and less market info.........it's all done in a dark little box, and we as producers have fewer and fewer sources of accurate and timly information........yet we are expected to "market the crop"........... like one journalism professor said a while back...the kids now days do not know what a real story is. That is a hard one to teach the new crop.