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marketeye
Veteran Advisor

Floor Talk, December 16, 2019

At  the close:

 

At the close, the March corn futures finished 7¢ higher at $3.88. May futures ended 6 3/4¢ higher at $3.94 3/4.

January soybean futures settled 14 1/2¢ higher at $9.22. March soybean futures finished 14 1/2¢ higher at $9.36 1/2..

March wheat futures settled 17 1/2¢ higher at $5.49 3/4.

In the outside markets, the NYMEX crude oil market is $0.16 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 128 points higher.

 

Mike

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At 9:40am:

 

January 2020 soybean contract hit $9.18, today. Just received my first alert to get the first 20% of 2019 crop hedged.

 

What say you?

 

Mike

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At 8:45am:

In early trading, the March corn futures are 6¢ higher at $3.87. May corn futures are 5 3/4¢ higher at $3.93 1/4.

Jan. soybean futures are 9 1/4¢ higher at $9.17 1/2. March soybean futures are 9¢ higher at $9.31 1/2.

March wheat futures are 9¢ higher at $5.41.



January soymeal futures are $2.70 per short ton higher at $299.90.

 January soy oil futures are 0.56 cents higher at 33.15¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.12 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 127 points higher.

Al Kluis, Kluis Advisors, says that the markets seem poised for a run up.

“In the overnight markets, dry weather concerns in South America and more details about the U.S., China trade deal have boosted prices, ” Kluis stated in a daily note to customers. We are watching the weather and forecasts for South America, especially northeast Brazil and southern Argentina, where there has been limited rain over the last month and now the forecast is dry for the next two weeks.

Kluis added, “Trade optimism about the “Phase 1” trade agreement is going to give us a good chance to make more soybean and wheat sales this week.”

 

Mike

 

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2 Replies
Hobbyfarmer
Honored Advisor

Re: Floor Talk, December 16, 2019

SELL 20%

 

Fine and dandy...

This year I set out to plant about 500 acres of corn.

Didn't quite get half planted.

After several floods and other severe wetness,  only had about 90  acres left to harvest.

I'm in Iowa to boot.

Must be nice to live in an area that has consistent bumper crops ...

The booths at the Nebraska power farming show that had no visitors the day I was there

Were the marketing services booths. 

The seed isn't even ordered yet but I'm supposed to be getting indentured ?

 Think I'll let the "growers" belly up to that bar and drink that kool ade.

Those advisors wanta help come on over I'm just getting ready to Jack up the semi trailer and put 4 New tires on the back axle. 21° outside but shirt sleeve weather in the shop,  get yours hands a little dirty, you'll feel better with a real feeling of accomplishment.

illinifarmer
Advisor

Re: Floor Talk, December 16, 2019

I hear that, pushing on my last 80 still.  Can’t believe the late corn still out in the field most is coming down one way or another.  Over half the last field had to be done one way because of the way it fell down.  It’s ugly for sure.  Gl out there hobby 2020 around the corner.  

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