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Registered: ‎08-05-2018
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Floor Talk August 7

[ Edited ]

At the close:

At the close, the September corn futures finished steady at $3.71. December futures settled 1/2¢ lower at $3.84.

 

Sep. soybean futures closed 12 1/2¢ higher at $8.95 1/4.  November soybean futures closed 12 1/4¢ higher at $9.05 3/4.

 

September wheat futures closed 6 1/4¢ lower at $5.68.

Sept. soymeal futures finished $2.60 per short ton higher at $331.00. Sep. soy oil futures finished 0.30¢ higher at 28.75.

In the outside markets, the NYMEX crude oil market is $0.15 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 151 points higher.

 

Mike

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At mid-session:

At mid-session, the September corn futures are 3/4¢ lower at $3.70. December futures are 3/4¢ lower at $3.84.

 

Sep. soybean futures are 9 3/4¢ higher at $8.92.  November soybean futures are 9 1/4¢ higher at $9.02.

 

September wheat futures are 2 3/4¢ lower at $5.71.

Sept. soymeal futures are $2.90 per short ton higher at $331.30. Sep. soy oil futures 0.25¢ higher at 28.70.

In the outside markets, the NYMEX crude oil market is $0.20 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 171 points higher.

 

Mike

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At 10:25am:

If you missed it, earlier today, the USDA announced fresh corn and soybean sales.

 

Private exporters reported to the U.S. Department of Agriculture the following activity:

--Optional origin sales of 179,000 metric tons of corn for delivery to unknown destinations during the 2018/2019 marketing year.  An optional origin contract provides that the origin of the commodity may be the U.S. or one or more other exporting countries.

--Export sales of 145,000 metric tons of soybeans for delivery to unknown destinations during the 2018/2019 marketing year.

The marketing year for corn and soybeans began Sept. 1.

 

Mike

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At 8:55am:

In early trading, the September corn futures are 3/4¢ lower at $3.70. December futures are 1/2¢ lower at $3.84.

 

Sep. soybean futures are 12 1/2¢ higher at $8.95.  November soybean futures are 12 3/4¢ higher at $9.06.

 

September wheat futures are 4 1/4¢ lower at $5.70.

August soymeal futures are $3.40 per short ton higher at $331.80. Sep. soy oil futures 0.28¢ higher at 28.73.

In the outside markets, the NYMEX crude oil market is $0.48 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 149 points higher.

 

Al Kluis, Kluis Advisors, says that the weaker crop conditions are helping prices.

 

“The USDA crop ratings, Monday, for soybeans and spring wheat took a larger-than-expected hit. Soybean ratings are down 3% and spring wheat ratings down 4%. Odds favor lower corn, soybean, and spring wheat ratings next week,” Kluis stated in a daily note to customers.

 

Mike

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Soybean and wheat futures were higher overnight after a USDA report showed crop ratings fell below expectations. Soybeans were up a dime, corn rose 3 cents and wheat was up 10-11 cents overnight. Export inspections, meanwhile, were lower for corn and wheat on a weekly basis but higher for soybeans. In weather news, thunderstorms are brewing in parts of southern Missouri that could bring hail, flooding and lighting to the region, according to the National Weather Service. Check out today's 3 Big Things for all the details. 

 

West Texas Intermediate = up 1.1%.

Brent Crude = up 1.4%

Dollar = down 0.3%.

Wall Street = U.S. stock higher pre-market.

World Markets = Global stocks higher overnight.

Veteran Advisor
Posts: 622
Registered: ‎08-31-2012
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Re: Floor Talk August 7

[ Edited ]

Congrats ty on your new "handle" - may have to start calling you Mr. DigitsSmiley LOL

 

Nice gentle rain this morning - comes at a good time for the beans.

Flowering and setting pods like crazy.

Got some super-sweet corn from the plant in Montgomery - has a fair amount of tip back.

 

 

 

Honored Advisor
Posts: 5,703
Registered: ‎01-10-2012
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Re: Floor Talk August 7

Corn racing to the finish line here.

 

Almost full dent ,

 

200 bu looking corn gonna be 175.

 

Too much 16 around, and tip back.

Honored Advisor
Posts: 8,931
Registered: ‎07-18-2011
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Re: Floor Talk August 7

[ Edited ]

incogneeto........... Mr t

 

 

Ask yourself when was the last time europe crops took a significant drop in production to the 50% potential levels.??  

Then see if it coodinated with poor in kansas and poor crops in argentina.??

And problems in NW US.??  Along with down rated or below expectation crops in northern Spring wheat??

 

With Brazil cops all going to China ??

 

We may be in some unprecidented waters.  

 

When was the last time?

 

 

Honored Advisor
Posts: 5,703
Registered: ‎01-10-2012
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Re: Floor Talk August 7

[ Edited ]

Yesterday

 

Last month Norway livestock producers were trying to get approval to import hay from Iceland.

 

The 1.22" last night here is already soaked in so much I was just driving around on a steep clay side hill in 2 wheel drive no spinning.

 

Just six townships got much in this area.

Really will help pastures and Hayground.

Didn't hurt the row crops either.

Honored Advisor
Posts: 8,931
Registered: ‎07-18-2011
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Re: Floor Talk August 7

USDA saves face