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Registered: ‎08-05-2018
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Floor Talk August 9

[ Edited ]

At the close:

At the close, the September corn futures finished 2¢ lower at $3.69 1/4. December futures finished 2 1/4¢ lower at $3.82 3/4.

 

Sep. soybean futures finished 6 3/4¢ lower at $8.93.  November soybean futures closed 6 1/2¢ lower at $9.04.

 

September wheat futures settled 5 1/2¢ lower at $5.64.

Sept. soymeal futures ended $2.90 per short ton lower at $332.60. Sep. soy oil futures settled 0.04¢ lower at 28.55.

In the outside markets, the NYMEX crude oil market is $0.09 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 19 points lower.

 

Mike

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At mid-session:

At mid-session, the September corn futures are 3 1/2¢ lower at $3.67. December futures are 3 3/4¢ lower at $3.81.

 

Sep. soybean futures are 5 1/4¢ lower at $8.94.  November soybean futures are 5 1/4¢ lower at $9.05.

 

September wheat futures are 6 3/4¢ lower at $5.63.

Sept. soymeal futures are $2.10 per short ton lower at $333.40. Sep. soy oil futures 0.01¢ higher at 28.92.

In the outside markets, the NYMEX crude oil market is $0.02 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 28 points lower.

 

Mike

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At 10am:

 

If you missed it earlier, the USDA announced weekly export sales for corn and soybeans that came in at the high end of expectations, while wheat was within.

 

Corn= 1.21 million metric tons vs. the trade’s expectations of between 750,000-1,400,000 mt.

Soybeans= 954,300 mt. vs. the trade’s expectations of between 400,000-1,000,000 mt.

Wheat= 317,100 mt. vs. the trade’s expectations of between 200,000-500,000 mt.

Soybean meal= 129,500 mt. vs. the trade’s expectations of between 50,000-250,000 metric tons.

 

What say you? Are you seeing trade tariff ramifications in these numbers?

 

Mike

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At 9:00am:

In early trading, the September corn futures are 1 1/2¢ lower at $3.69. December futures are 1 3/4¢ lower at $3.83.

 

Sep. soybean futures are 8¢ lower at $8.91.  November soybean futures are 7 1/2¢ lower at $9.03.

 

September wheat futures are 1 1/2¢ lower at $5.68.

Sept. soymeal futures are $2.50 per short ton lower at $333.00. Sep. soy oil futures 0.07¢ lower at 28.52.

In the outside markets, the NYMEX crude oil market is $0.33 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 6 points lower.

 

Mike

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Wheat futures were lower in overnight trading on Thursday as the heat wave in Europe is expected to break late this week and on rising expectations for Argentina's crop. Wheat declined 5-6 cents overnight, soybeans fell 3 cents and corn was up less than a penny. In ethanol news, production last week jumped to the highest since Dec. 1 while stockpiles rose to the highest since March 26. Ethanol has been contentious politically in recent weeks, but EPA Administrator Scott Pruitt was fired and is being replaced by Andrew Wheeler, who's reportedly headed to Iowa to learn about ethanol and biodiesel. In weather news, thunderstorms are expected in parts of Illinois today, and severe weather is seen in Oklahoma. Check out all the details in today's 3 Big Things

 

West Texas Intermediate = up 1%.

Brent Crude = up 0.1%

Dollar = up 0.1%.

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

World Markets = Global stocks mixed overnight.

Senior Contributor
Posts: 469
Registered: ‎08-02-2012
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Re: Floor Talk August 9

I say not a surprise and you were all warned this was a possibility. Suck it up and correct this market.
Honored Advisor
Posts: 8,931
Registered: ‎07-18-2011
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Re: Floor Talk August 9

Pretty good exports when we went supposed to have any.

beans look like petty good numbers to me.

 

 

 

Honored Advisor
Posts: 2,924
Registered: ‎04-29-2011
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Re: Floor Talk August 9

Wow....this site has just been going wild with marketing posts lately.    

Veteran Contributor
Posts: 132
Registered: ‎09-01-2013
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Re: Floor Talk August 9