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Veteran Advisor

Floor Talk August 6

At the close:

At the close, the Sept. corn futures settled 3 cents lower at $3.69, Dec corn futures finished 2 3/4 cents lower at $3.80 1/2.

Sept. soybean futures finished 6 3/4 cents lower at $9.56. Nov. soybean futures closed 10 cents lower at $9.43 1/4.

Sept. wheat futures closed 5 cents higher at $5.07.

Sept. soymeal futures finished $4.60 per short ton lower at $339.20. Aug. soyoil futures are trading $0.02 higher at $29.75. 

In the outside markets, the Brent Crude oil market is $0.59 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 128 points lower.

Mike

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At mid-session:

At mid-session, the Sept. corn futures are trading 1 1/2 cents lower at $3.71 1/4, Dec corn futures are1 1/2 cents lower at $3.81 3/4.

Sept. soybean futures are trading 6 cents lower at $9.56. Nov. soybean futures are trading 9 cents lower at $9.44.

Sept. wheat futures are 10 cents higher at $5.12.

Sept. soymeal futures are trading $4.50 per short ton lower at $339.30. Aug. soyoil futures are trading $0.09 higher at $29.82. 

In the outside markets, the Brent Crude oil market is $0.51 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 142 points lower.

Mike

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At the open:

At the open, the Sept. corn futures are trading 1/2 of a cent lower at $3.72, Dec corn futures are 3/4 of a cent lower at  $3.82. 

Sept. soybean futures are trading 6 cents lower at $9.56. Nov. soybean futures are trading 7 cents lower at $9.46.

Sept. wheat futures are 4 cents higher at $5.06.

Sept. soymeal futures are trading $2.40 per short ton lower at $341.40. Aug. soyoil futures are trading $0.02 lower at $29.73. 

In the outside markets, the Brent Crude oil market is $0.26 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 42 points lower.

Mike

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At 7:35am:

USDA Weekly Export Sales Thursday were off for corn, up for soybeans and wheat:

 

Corn=274,300 mt

 

Soybeans= 1.471 million metric tons

 

Wheat=  840,800 mt

 

Mike

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At 6:45am:

 

Early calls: Corn 1-2 cents higher, soybeans 2-4 cents lower, and wheat 6-8 cents higher.

 

Trackers:
Overnight grain, soybean markets = Trading mostly higher.
Brent Crude Oil = $0.29 lower.
Dollar =Higher.  
Wall Street = Seen flat with earnings and jobs report eyed.

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

 

 

 

More in a minute,

 

Mike

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5 Replies
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Veteran Advisor

Re: Floor Talk August 6

That soybean number looks good but your harvest picture in Louisiana is bringing this market down. Smiley Happy

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Veteran Advisor

Re: Floor Talk August 6

Beginning today, Russia is destroying banned U.S. ag products. It doesn't appear Russia will become our biggest importer anytime soon. The farm markets may not be relying on that country for a price bump. Here are the details, as they were lined out by USDA's staffer in Moscow.

 

MOSCOW
On approval of the rules of the destruction of agricultural products, raw materials and food included in the list of agricultural products, raw materials and foodstuffs originating from the United States,European Union, Canada, Australia and the Kingdom of Norway, and that until August 5, 2016 (inclusive) are prohibited in the Russian Federation.

The Government of the Russian Federation decrees:
1. In order to implement the provisions of the Decree of the President of the Russian Federation of July 29, 2015
#391 "On certain special economic measures applied to ensure the security of the Russian
Federation" to approve the attached rules of destruction of agricultural products, raw materials and food included in the List of agricultural products, raw materials and foodstuffs originating from the United States, European Union, Canada, Australia
and the Kingdom of Norway and that until August 5, 2016 (inclusive) are prohibited to be imported into the Russian Federation, which is approved by the Resolution of the Government of the Russian Federation dated August 7, 2014 .
  2. The implementation of the present Resolution is performed by the relevant federal bodies of executive power within the limits of the number of employees of these bodies determined by the Government of the Russian Federation, as well as within the federal budget allocation to these bodies for management and administration in the set functions.

3. This decision shall enter into force on August 6, 2015

Russian Prime Minister

 

 

Mike

 

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Veteran Advisor

Re: Floor Talk August 6

China bought some beans today:

Private exporters reported to the U.S. Department of Agriculture export sales of 132,000 metric tons of soybeans for delivery to China during the 2015/2016 marketing year.

 

The marketing year for soybeans began Sept. 1.

 

Mike

 

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Veteran Advisor

Re: Floor Talk August 6

So the Russians want to play ? They used to be
Buyers of cheap chicken meat

So, do we go to the liquor stores and pour out
The vodka ?
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Senior Contributor

Re: Floor Talk August 6

We already have economic sanctions against Russia because of their involvement in the Ukraine. Payment in kind?

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