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Advisor
Posts: 4,081
Registered: ‎05-03-2010
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Floor Talk, December 14, 2018

[ Edited ]

At the close:

 

At the close, the March corn futures finished 1/2¢ higher at $3.84 3/4. May futures finished 1/2¢ higher at $3.92 1/4.

 

January soybean futures closed 6 1/2¢ lower at $9.00 1/2. March soybean futures ended 6 3/4¢ lower at $9.13 3/4.


 

March wheat futures finished 6¢ lower at $5.30.



 

January soymeal futures settled 1.20¢ per short ton lower at $307.30.

 January soy oil futures closed 0.34 lower at 28.49¢ per pound.

 

In the outside markets, the NYMEX crude oil market is $1.68 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 500 points lower.

 

Mike

 

--------------

At the open:

 

In early trading, the March corn futures are 2 3/4¢ higher at $3.87. May futures are 2 1/2¢ higher at $3.94.

 

January soybean futures are 2¢ higher at $9.09. March soybean futures are 1 1/2¢ higher at $9.22.


 

March wheat futures are 1¢ higher at $5.37.



 

January soymeal futures are 0.70¢ per short ton higher at $309.20.

January soy oil futures are 0.06 lower at 28.77¢ per pound.

 

In the outside markets, the NYMEX crude oil market is $0.32 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 203 points lower.

 

Mike

---------

At 8:11am:

 

Overnight:

 

Corn= Mixed to off a 1/2¢ per bushel.

Soybeans= 3/4 higher per bushel.

Wheat=  1¢ lower.

 

Outside Markets:

 

Crude oil= .01¢ lower

U.S. Dollar= Higher

Dow= Down 175 points

 

Big News Just Out

China buys more U.S. soybeans:

I don't know, you guys and gals tell me.

 

Private exporters reported to the U.S. Department of Agriculture the following activity:
 
--Export sales of 300,000 metric tons of soybeans for delivery to China during the 2018/2019 marketing year;
 
--Export sales of 130,000 metric tons of soybeans for delivery to unknown destinations during the 2018/2019 marketing year;
 
--Export sales of 125,000 metric tons of corn for delivery to Japan during the 2018/2019 marketing year.
 
The marketing year for soybeans began Sept. 1.

 

Thanks,

 

Mike

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Veteran Contributor
Posts: 106
Registered: ‎06-14-2018
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Re: Floor Talk, December 14, 2018

Hearing word of China buying roughly 3 million tons of corn and removing car tariffs on Jan 1. 

Advisor
Posts: 4,081
Registered: ‎05-03-2010
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Re: Floor Talk, December 14, 2018

It's all a very different narrative before the G20 meeting. Things could still be going the other way. Is it the answer, no, a bigger solution is needed with China. But, for every millions of bushels of soybeans that China buys, don't you think that that is a few million less soybeans that are going to rot sitting in bins waiting for a $10.00 market?

 

Mike

Veteran Advisor
Posts: 1,492
Registered: ‎10-18-2016
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Re: Floor Talk, December 14, 2018

Mike,

 

Wives and bankers will move the "$10" soybeans eventually.  Soybeans rotting in a bin is an unpleasant situation, anyway.

Honored Advisor
Posts: 2,871
Registered: ‎04-29-2011
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Re: Floor Talk, December 14, 2018

Soybeans will keep for a long time if they are dry and remain that way.   And Jim, not everyone has a wife....or a banker. Smiley Wink

 

I have both.........but there is a long time to market these soybeans.   

 

The problem is, every rally will be met with wives and bankers emptying the bins.    Smiley Mad

Senior Contributor
Posts: 433
Registered: ‎04-02-2012
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Re: Floor Talk, December 14, 2018

👌
Senior Contributor
Posts: 979
Registered: ‎11-30-2014
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Re: with China, beans to

say $14,  without China beans still to towards $12.

soooo don't throw in the towel so soon.

in shape beans will keep for 30 years if you check bins once in a while.