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Veteran Advisor

Floor Talk August 25

At the close:

At the close, the Sept. corn futures finished 3 cents lower at $3.65 1/2, Dec corn futures finished 3 1/2 cents lower at $3.77.  Nov. soybean futures ended 3 3/4 cents higher at $8.77 3/4.

Dec. wheat futures closed 8 1/2 cents lower at $4.99 1/2.

Sept. soymeal futures closed $1.20 per short ton higher at $327.60. Sept. soyoil futures ended $0.27 higher at $26.82. 

In the outside markets, the Brent Crude oil market is $0.75 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 250 points higher.

Mike

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At mid-session:

At mid-session, the Sept. corn futures are trading 1 3/4 cents lower at $3.67, Dec corn futures are 1 cent lower at $3.79.  Nov. soybean futures are trading 5 3/4 cents higher at $8.79 3/4.

Dec. wheat futures are 6 3/4 cents lower at $5.01.

Sept. soymeal futures are trading $0.80 per short ton higher at $327.20. Sept. soyoil futures are trading $0.31 higher at $26.86. 

In the outside markets, the Brent Crude oil market is $1.36 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 376 points higher.

Mike

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At the open:

At the open, the Sept. corn futures are trading 1 3/4 cents higher at $3.70, Dec corn futures are 1 cent higher at $3.82.  Nov. soybean futures are trading 6 3/4 cents higher at $8.80.

Dec. wheat futures are 4 1/2 cents higher at $5.12.

Sept. soymeal futures are trading $2.50 per short ton higher at $328.90. Sept. soyoil futures are trading $0.35 higher at $26.90. 

In the outside markets, the Brent Crude oil market is $1.43 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 308 points higher.

Mike

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At 7:30am:

Looks like most think it's going to be a late harvest, according to this harvest poll. What's your date to hit the fields? With the exception of the crops in the troubled states, I thought most would be rolling in late September.

 

Mike

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At 7:15am:

 

Early calls: Corn 5-6 cents higher, soybeans 12-14 cents higher, and wheat 5-7 cents higher.

 

Trackers:
Overnight grain, soybean markets = Trading higher.
Brent Crude Oil = $1.30 higher.
Dollar =Hgher.  
Wall Street = Seen higher, after an historic sell-off yesterday. China cut rates, but stock market is shrugging off the Asian country's own stock market selling. .

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

 

 

 

More in a minute,

 

Mike

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8 Replies
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Senior Contributor

Re: Floor Talk August 25

NORTHEAST NEBR.   hope to start 1st week of october on beans with corn to follow.

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Advisor

Re: Floor Talk August 25

Late harvest? Just means it will take the USDA till Jan 2017 not Jan 2016 to come up with final yield numbers. Till then have to keep prices contained.
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Senior Contributor

Re: Floor Talk August 25

Hello guys,

 

Here is some info Argentina's newest grain strike from agrosouth-news.com:

 

As a way to protest against the agricultural policies of Argentina’s government, the top five farm associations from that country have stopped to sell grains and other products starting today until Friday’s midnight. Some roads throughout Argentina will be blocked as a way to call for more attention of the public. According to the associations, most farms are not being profitable growing corn, wheat, soybeans and sunflower because of trade restrictions and taxes on exports. In northern provinces such as Salta the transportation costs are also a problem, accounting up to 80% of corn costs.

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Advisor

Re: Floor Talk August 25

Wet late planting season wet mild summer why wouldn't it be a late harvest that's just commen sense what a dumb question to even bring up worry a little more about this disaster of a market.
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Veteran Advisor

Re: Floor Talk August 25

illinifarmer,

 

Not everybody had a wet planting season. Not everybody had a wet summer. I've already heard of farmers that are not too far from each other say they will start in two separate months; one will start in September, one in October. So, the market is watching to see when the new crop will come on, what the yields will be and whether selling or storing will prevail. All of the above pertain to the worrisome markets, right now. Wouldn't you agree?

 

Thanks,

 

Mike

 

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Senior Advisor

Re: Floor Talk August 25

It's all about location

Basis is actually strengthen into harvest here

No old crop beans to be found and new crop was planted in June so it will be late October early November before supply hits. And logistically it's hard to move product very far in large volumes so outside supply will find it hard to make its way in. Not to mention the area of late beans are large

Corn. Well there is some old crop around but it's not moving. New crop will start here in 2-3 weeks. But with the PP acres and sickly fields supply will be down too. Last few days the corn has started to give up the ghost. Now most of it is near black layer but you can start to see just how stressed the plant was as it has sucked the life out of itself. That doesn't translate into high yields. There will be some nice corn around. Heck I've got some. I've also got some that won't hit APH and some that will be a zero

The fact corn has "hung around" tells me the traders are nervous. We will see $5 corn by next summer. At least around here
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Veteran Advisor

Re: Floor Talk August 25

Mizzou_Tiger,

 

You have some that won't hit even 70% of APH?

 

Thanks,

 

Mike

 

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Veteran Advisor

2015 THE YEAR OF SUDDEN DEATH IN CORN

not just beans.  The stress spots are done.  There is plenty of corn with the whole plant dead or soon to be dead.  Seems worse than in beans at this point in time.  Or maybe in beans we are just use to it.  Good ground still hanging on pretty well.

 

Disease, too much moisture, no roots, running out of N,  you name it, the corn plant has seen it in spots.  Looks like corn that never got rain for two months.

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