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Contributor

Floor Talk - December 16 (ACTION ALERTS)

Quick fix! Soybean prices updated to -16 at the close.

 

At the close:

 

The March corn futures are trading 2 1/2 cents lower at $4.06 per bushel.
January soybean futures are trading 16 cents lower at $10.23 1/2.
March wheat futures are trading 4 1/4 cents higher to $6.23 1/4.

 

In the outside markets, the crude oil is on the rebound! It's $.12 per barrel higher to $56.03, the dollar is lower, and Dow Jones Industrials are 62 points higher to 17,243.

 

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AL KLUIS MARKETING ALERTS:

  • Crude Oil prices have reversed today. Book 50% minimum of your spring fuel needs now.
  • Wheat prices have rallied to our target. Increase 2014 cash wheat sales by 10% to get to a minimum of 90% sold now.

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At 11:00 AM: 

 

The March corn futures are trading 1/2 of a cent higher at $4.09 per bushel.
January soybean futures are trading 7 3/4 cents lower at $10.31 3/4.
March wheat futures are trading 14 3/4 cents higher to $6.33 3/4.

 

In the outside markets, the crude oil is $.28 per barrel lower to $56.19 helping the Dow Jones Industrials jump 160 points higher to 17,341.

 

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At the open:

The March corn futures are trading 1/4 of a cent lower at $4.08 3/4 per bushel.
January soybean futures are trading 8 1/4 cents lower at $10.31 1/4.

March wheat futures are trading 12 3/4 cents higher to $6.31 3/4.

In the outside markets, the crude oil is $1.66 per barrel lower to $54.25, the dollar is lower, and the Dow Jones Industrials are 75 points lower to 17,105.

 

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At 7:40 am:
Early calls: Corn is 0-2 cents lower, soybeans 9-11 cents lower and wheat is seen 8-10 cents higher.

 

Trackers:
Overnight grain, soybean markets = Trading mostly lower.
Crude Oil = $2.17 lower per barrel to $53.74.
Dollar = Lower
Wall Street = Trading lower. Dow is down 45 points to 17,080.
World Markets = Europe stocks are mostly lower, Asia/Pacific stocks are mostly lower.

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4 Replies
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Senior Advisor

Al Kluis too early?

Al Kluis may have been a day early in his recommendations if Russia has started restricting exports in wheat.

 

In addition, all of the US classes of winter wheat are struggling with poor conditions.

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Veteran Advisor

Re: Floor Talk - December 16 (ACTION ALERTS)

a bit early on the fuel recommendation as well IMO.  considering the magnitude and duration of the decline, im not covinced this is THE BOTTOM.   plus the cash price always lags the board, unlrss you can handle a full contract.

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Senior Advisor

Re: Floor Talk - December 16 (ACTION ALERTS)

I think it IS unlikely oil will bob right back up. Saudi strategy doesn't bounce around much. And western industrial economies are definitely not surging.

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Senior Advisor

Re: Floor Talk - December 16 (ACTION ALERTS)

I'm going hand to mouth on fuel for the time being.  Maybe in a couple of months.

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