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Floor Talk, December 18, 2018

[ Edited ]

At the close:

 

At the close, the March corn futures finished 1 1/2¢ higher at $3.85 1/2. May futures ended 1 3/4¢ higher at $3.93 1/2.
 
January soybean futures closed 3¢ higher at $9.07 3/4. March soybean futures settled 2 3/4¢ higher at $9.20 3/4.


 

March wheat futures closed 2 1/2¢ lower at $5.32 3/4.



 

January soymeal futures finished 1.30¢ per short ton higher at $310.40.

 January soy oil futures closed 0.24 higher at 28.41¢ per pound.



 

In the outside markets, the NYMEX crude oil market is $3.58 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 82 points higher.

 

Mike

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At midsession:

 

At midsession, the March corn futures 2¢ higher at $3.86. May futures are 1 1/2¢ higher at $3.93.
 
January soybean futures are 4 3/4¢ higher at $9.09. March soybean futures are 4 1/4¢ higher at $9.22.


 

March wheat futures are 3 1/4¢ lower at $5.32.

January soymeal futures are 1.80¢ per short ton higher at $310.90.

January soy oil futures are 0.18 higher at 28.35¢ per pound.



 

In the outside markets, the NYMEX crude oil market is $2.66 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 300 points higher.

 

Jason Roose, U.S. Commodities, says that investors are already eyeing the holiday break coming up.

 

"Grains are cautiously higher today with light holiday buying in corn and soybeans as weather turns dry in Brazil,  optimistic demand an all grains has also been giving the market short term support," Roose says.

 

Al Kluis, Kluis Advisors, says that with the current low volume in the grain markets, any bullish or bearish news will have a large and fast impact on the CBOT futures prices.
“I am waiting for the Wednesday Federal Reserve Board meeting to see if short term rates go up ¼ %. Most importantly, how many rate increases will they project for 2019? The language in their published minutes will have a huge impact on not only interest rates, but also the US dollar and the commodity markets,” Kluis stated in a daily note to customers.

 

 

Mike

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At 9:00am:

 

In early trading, the March corn futures 1/4¢ lower at $3.83 3/4. May futures are 1/4¢ lower at $3.91.
 
January soybean futures are 3¢ higher at $9.07. March soybean futures are 3¢ higher at $9.20.

March wheat futures are 4 3/4¢ lower at $5.30.



 

January soymeal futures are 1.60¢ per short ton higher at $310.70.

 January soy oil futures are 0.22 higher at 28.39¢ per pound.



 

In the outside markets, the NYMEX crude oil market is $1.42 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 292 points higher.

 

 

Mike

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At 8:00am:

 

Overnight:

 

Corn= Unchanged.

Soybeans= 3¢ higher per bushel.

Wheat=  3¢ lower.

 

Outside Markets:

 

Crude oil= 1.08¢ lower

U.S. Dollar= Lower

Dow= Up 138 points

 

Big News:

What do you know?

 

Thanks,

 

Mike