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Veteran Contributor

Floor Talk December 12

At the close:

At the close, the March corn futures finished 1¢ higher at $3.60 1/2 per bushel. January soybean futures closed 6 1/2¢ lower at $10.31. March wheat futures ended 1¢ higher at $4.17 1/4. January soy meal futures settled $2.60 short ton lower at $316.20. January soy oil futures closed $0.03 higher at 36.97¢ per pound.  In the outside markets, the Brent crude oil market is $0.94 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 39 points higher.

 

Mike

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At mid-day:

At mid-day, the March corn futures are 3/4¢ lower at $3.58 per bushel. January soybean futures are 7 3/4¢ lower at $10.29. March wheat futures are 1 3/4¢ lower at $4.14 January soy meal futures are $3.10 short ton lower at $315.70. January soy oil futures are $0.02 lower at 36.92¢ per pound.  In the outside markets, the Brent crude oil market is $1.70 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 21 points higher.

 

Mike

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At the open:

At the open, the March corn futures are 1/4¢ lower at $3.59 per bushel. January soybean futures are 1¢ lower at $10.36. March wheat futures are 3 1/2¢ lower at $4.12 3/4. January soy meal futures are $3.00b short ton lower at $315.80. January soy oil futures are $0.22 higher at 37.16¢ per pound.  In the outside markets, the Brent crude oil market is $2.20 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 31 points higher.

 

Mike

 

 

At 9:10am:

If you missed the 8am USDA announcement, here you  go:

 

Private exporters reported to the U.S. Department of Agriculture the following activity:
--Export sales of 256,600 metric tons of soybeans for delivery to China during the 2016/2017 marketing year; and
--Export sales of 100,000 metric tons of grain sorghum for delivery to China during the 2016/2017 marketing year.
The marketing year for grain sorghum and soybeans began Sept. 1.

 

 

What say you? Is China building up soybean reserves, as a preparation move in the event President Trump slaps a trade embargo on it? I'm hearing this concern from some credible folks. What about you on the land?

 

Mike

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At the open:

At the open, the March corn futures are 1/4¢ lower at $3.59 per bushel. January soybean futures are 1¢ lower at $10.36. March wheat futures are 3 1/2¢ lower at $4.12 3/4. January soy meal futures are $3.00b short ton lower at $315.80. January soy oil futures are $0.22 higher at 37.16¢ per pound.  In the outside markets, the Brent crude oil market is $2.20 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 31 points higher.

 

Mike

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Wheat futures were lower overnight as weather forecasters said winterkill in the Plains was no longer likely. Chicago futures were down 6 cents and Kansas City wheat was down a nickel in overnight trading. Corn was about 1 1/2 cents lower and beans were down about 2 cents. Money managers are less bullish on beans and more bearish on corn, according to the CFTC's latest report.     
 

Here's what happened overnight:

 

Brent Crude Oil = 4.2% higher.

West Texas Intermediate Crude Oil = 4.5% higher.

Dollar = down 0.3%.

Wall Street = U.S. stock futures mixed in overnight trading.
World Markets = Global stocks mixed amid rising oil, European selloff

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4 Replies
Senior Advisor

Re: Floor Talk December 12

Any grain embargo of significant consequence would greatly affect the farm-country perception of our governmental leadership, from President to legislators to USDA, etc.   Ag exports have positively impacted the US trade balance for many years.  Personally, I think our leaders will weigh the benefits and costs, and any talk of a potential grain embargo are politically motivated, premature, and perhaps (hopefully) ill-advised.

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Honored Advisor

Re: Floor Talk December 12

If it is so.....exports being enhanced by the perception that trump will be a tougher negotiator.  He is already in a more respected position than we have been in in years.

 

I may boo him later but for now,  Thank you Mr. Trump...

Veteran Advisor

Re: Floor Talk December 12

Is China taking delivery now?  When is delivery?  If China plays hardball, I could see Trump stopping the ships from leaving.  I don't think it is in anyone's interest to have a trade war.

It's known that China is investing heavily in SA.  Can they get SA beans in time to meet their demands?

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Honored Advisor

Re: Floor Talk December 12

It is really hard to have the respect of your trade partner when were always bent over kissing their feet.

 

I'm not going to panic over the political "what ifs"..    We may be buying beans from the south trying to fulfill those sales deliveries.

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