Floor Talk December 15, 2020

[marketeye]

At the close:

At the close, the March corn futures finished 3/4¢ higher at $4.24 3/4. May corn futures finished 1/2¢ higher at $4.27 1/4.

January soybean futures closed 14 3/4¢ higher at $11.84 1/2. March soybean futures closed 14 1/4¢ higher at $11.88 3/4.

March wheat futures finished 3 1/2¢ higher at $5.99 3/4.


Jan. soymeal futures closed $7.50 per short ton higher at $388.20.


Jan. soy oil futures settled 0.46 of a cent higher at 39.19¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.56 per barrel higher (+1.19%) at $47.55. The U.S. dollar is lower, and the Dow Jones Industrials are 291 points higher (+1.06%) 30,178 points.

Mike

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At midsession:

At midsession, the March corn futures are 1 3/4¢ lower at $4.22. May corn futures are 1 3/4¢ lower at $4.25 1/4.

January soybean futures are 6 3/4¢ higher at $11.76 1/2. March soybean futures are 6 1/2¢ higher at $11.81.

March wheat futures are 3 1/2¢ higher at $6.00 3/4.


Jan. soymeal futures are $5.70 per short ton higher at $386.40.


Jan. soy oil futures are 0.15 of a cent lower at 38.58¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.52 per barrel higher (+1.11%) at $47.51. The U.S. dollar is lower, and the Dow Jones Industrials are 161 points higher (+0.54%) 30,023 points.

Mike

[Hobbyfarmer]

http://www.msn.com/en-us/money/companies/food-giants-seek-ban-on-soy-from-deforested-brazil-region/a...

Just a way for China to buy beans cheaper?

[sw363535]

I hate to mention this but how long will this nonsense from leaders go on?  Better ?  How long will the hangover from 2020 last?

we been living in a “ just in time” economy for quite a while.  I saw an article today that grocery stores are worrying about restocking shelves.

wasnt it just a few months ago that canned veggies were hard to find on the shelves.  Paper products most of this year.    I been trying for years to convince SF that a 40 day supply of grain is not a surplus.  Wasn’t in Moses time and not today.  All it took was a big wind in Iowa when the bins were empty —- that’s called an interruption in our delivery system.  Now the feedlot areas are digging into ground piles intended for next spring so 2021 will a chaos  ......wooooah   Just saying in a world that depends on a distant on time supply chain, a 2020 could take years to correct  if ever.  Sooo I don’t see a surplus of anything returning quickly   Am I nuts?

[Hobbyfarmer]

"Am I nuts"

Don't ask the question if you can't stand the answer.

Did not take long to replenish the '12 shortages. Brazil now produces twice as much as then. More

production increases coming every year.

The biggest threat to production will be a carbon tax. That is going on in Canada now with big

increases coming for next year.

[k-289]

Just in time shipments   , expertly - invented for  '' O ''  warehousing , inventory - CO$T management ,  thus create improved appearance of bottom line strategy , reflected to Wall Street stock appreciation . 

The chickens are flocking to roost,  on this brain haze , unfortunately ,  the  John Q  Public  - average Joe , being  stuck with the burden . 

Filing a  Chapter  7,  11  won't  correct this , although a new '' Chapter  20 ''  might  be  fitting,  during this  particular place in time,  for an appetizer , then a relaxing cruise ship gala , to ease - calm the anxiety - maybe ?      

[k-289]

South American meal -     fed to Chinese hogs in USA  -  then export the meat to Asia -  brilliant  -  -  -