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Advisor
Posts: 4,081
Registered: ‎05-03-2010
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Floor Talk, December 12, 2018

[ Edited ]

At the close:

At the close, the March corn futures settled 1/4¢ higher at $3.85. May futures finished 1/2¢ higher at $3.92.

January soybean futures closed 5¢ higher at $9.20. March soybean futures finished 5¢ higher at $9.33.


 

March wheat futures closed 5 1/2¢ higher at $5.26 1/2.



 

January soymeal futures ended 1.70¢ per short ton higher at $312.60.

 January soy oil futures ended 0.08 higher at 29.04¢ per pound.

 



In the outside markets, the NYMEX crude oil market is $0.45 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 157 points higher.

 

 

Mike

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At midday:

 

At midday, the March corn futures are 1/4¢ higher at $3.85. May futures are 1/2¢ higher at $3.92.

January soybean futures are 3 1/4¢ higher at $9.18 1/4. March soybean futures are 3 1/2¢ higher at $9.31 3/4.


 

March wheat futures are 7 1/4¢ higher at $5.28.



 

January soymeal futures are 1.50¢ per short ton higher at $312.40.

January soy oil futures are 0.04 higher at 29.00¢ per pound.

 



In the outside markets, the NYMEX crude oil market is $0.46 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 442 points higher.

 

Mike

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At 8:53am:

In early trading, the March corn futures are 1 1/2¢ higher at $3.86 1/4. May futures are 1 1/4¢ higher at $3.93.

January soybean futures are 7 3/4¢ higher at $9.22. March soybean futures are 7 3/4¢ higher at $9.36.


 

March wheat futures are 4 1/4¢ higher at $5.25.



 

January soymeal futures are 1.30¢ per short ton higher at $312.20.

 January soy oil futures are 0.23 higher at 29.19¢ per pound.

 



In the outside markets, the NYMEX crude oil market is $0.62 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 225 points higher.

 

Mike

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At 8:26am:

My buddy, Gavin Maguire, a Reuters analyst, shared this graph on my Twitter feed. I thought that you all might find this interesting. It's about China's soybean buying habits.

 

China buying beans.jpg

 

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At 8am:

 

Overnight farm markets are higher, crude oil is higher, the Dow is up over 300 points, and the U.S. dollar is lower. All the stars are aligned.

 

Plus, and more importantly, we have fresh export sales of corn and soybeans, this morning.

 

Private exporters reported to the U.S. Department of Agriculture the following activity:
 
--Export sales of 130,632 metric tons of soybeans for delivery to Mexico during the 2018/2019 marketing year; and
 
--Export sales of 110,000 metric tons of soybeans for delivery to unknown destinations during the 2018/2019 marketing year.
 
The marketing year for soybeans began Sept. 1.

 

Is China buying again? I heard yesterday that China was going to be announcing soybean purchases of between 5-8.0 million metric tons soon.

 

What say you?

 

Mike

 

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Senior Contributor
Posts: 449
Registered: ‎08-02-2012
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Re: Floor Talk, December 12, 2018

Speculation and rumors don’t amount to facts. How many times are you going to try to swing a day on the markets over a rumor or tweet.? All of which have never followed through and no retraction on the markets when it never happens. Here’s a fact, another Trumper puppet going to prison 3 years Cohen getting off easy must be nice to have money.
Veteran Advisor
Posts: 1,622
Registered: ‎06-30-2010
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Re: Floor Talk, December 12, 2018

https://www.reuters.com/article/us-usa-trade-china-soybeans/exclusive-china-makes-first-major-buy-of...

 

"China on Wednesday bought at least 500,000 tonnes of U.S. soybeans in its first major purchase of the oilseed since U.S. President Donald Trump and his Chinese counterpart Xi Jinping struck a trade war truce earlier this month, traders said."

Advisor
Posts: 4,081
Registered: ‎05-03-2010
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Re: Floor Talk, December 12, 2018

That China purchase announced Wednesday equals 18.0 million bushels of U.S. soybeans. Is that a pretty good downpayment?

 

Mike