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Veteran Advisor

Floor Talk, December 18, 2019

At midsession:

At midsession, the March corn futures are 2¢ lower at $3.87. May corn futures are 2 1/2¢ lower at $3.94.

Jan. soybean futures are 3/4¢ lower at $9.28. March soybean futures are 1¢ lower at $9.39 1/2.

March wheat futures are 8 1/2¢ lower at $5.47 1/2.



January soymeal futures are $0.30 per short ton higher at $302.60.

 January soy oil futures are 0.36 cents lower at 33.46¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.01 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 8 points higher.

Mike

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At 10:45am:

Here's today's Renewable Fuels Association (RFA) press release:

According to EIA data analyzed by the RFA for the week ending Dec. 13, ethanol production decreased 8,000 barrels per day (b/d), or -0.7%, to 1.064 million b/d—equivalent to 44.69 million gallons daily. However, the four-week average ethanol production rate increased for the ninth consecutive week, rising 0.8% to 1.064 million b/d, equivalent to an annualized rate of 16.31 billion gallons.

Ethanol stocks edged 0.1% lower to 21.8 million barrels. Inventories were 8.7% lower than the same week last year. Stocks declined in all regions except the East Coast (PADD 1) and Rocky Mountains (PADD 4), according to the RFA press release.

Mike

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At 8:50am:

 

In early trading, the March corn futures are 2¢ lower at $3.88. May corn futures are 2¢ lower at $3.94 1/2.

Jan. soybean futures are 1¢ lower at $9.27 3/4. March soybean futures are 1 1/2¢ lower at $9.39 1/2.

March wheat futures are 5 1/2¢ lower at $5.50 1/2.



January soymeal futures are $0.30 per short ton lower at $302.00.

 January soy oil futures are 0.25 cents lower at 33.57¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.44 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 25 points higher.

Al Kluis, Kluis Advisors, says that the bulls are running this market.

“The recent rally has now pushed corn nearly 20 cents off its low from five days ago, while soybeans are over 60 cents off the low scored on December 2. Is the rally being driven by funds trying to cover short positions now that phase one of the trade deal looks to become a reality? That would make sense. We could also be seeing traders adjusting positions for the year-end. Either way, the bulls are on track to end the year in charge, ” Kluis stated in a daily note to customers.

Kluis added, “The bears claimed victory for Thanksgiving. It appears the bulls are setting their sights on Christmas. If options remain relatively cheap on this rally, then it will be worth looking at different strategies for the January crop report before the end of the year.”

 

Mike

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Veteran Contributor

Re: Floor Talk, December 18, 2019

Wish i could be a investor or trader and make some money quick before christmas,meanwhile farmer's are trying to figure out what bills they can pay.

Honored Advisor

Re: Floor Talk, December 18, 2019

Thanks mike,                     and big Al.   It is a good analogy of our favored pessimism over the foolishness of being bullish.

But I like the holiday analogy....   samalan1140 ------ your comment trumps Al's warning against being bullish.

Out west it is going to be a very dry Christmas.  Wheat country is down on acres and looking extremely poor.  Several wind damage claims in to insurance already in the okla panhandle.  Calves at the sale barns are bring nearly the same price per pound if they weigh 350 or if they weigh 800.    Cow won't bring much more than her calf.  Call from auctioneer yesterday was "good set of calves, dry grass and cake fed"....... over and over..... no wheat big enough to graze.  Last good rain was early August.  two skiffy snows.  First freeze was HARD......Nearly teens.

 

Just read about one farmer who endured the hard year by going back to school and getting 56 hours passed and worked on his marriage.   Probably one of the most productive crops planted this year, I admire that yield...........and he doesn't have to live with the questions of explaining why he cant raise 616 bushels on every acre....When your banker brings that up it sure doesn't make the bill paying job any easier.

 

 

Senior Advisor

Re: Floor Talk, December 18, 2019

SW  -  I'll  be  your  ' ' '  broker  -  adviser  ' ' '   and  IF  I    can  hire  you  for  the  same  job -  ? 

My  fee$  will  be  say  $100 K  / for  January ,  then  you  can  charge  me  $125 K  for  February,   and  I  can  guarantee your  fee  for March  will  be  in  the  $150K   range , & , only  if  you  will  advise  me  what  Aprils  '' locked  in Fee$ ''  will  be  -  ? 

Also,   prevent - plant  discussions ,  weather,  K - Street  prediction's  are  included  in  our  ''  Platinum Membership '' ,  which  must  be  ''' pre-paid '''  for  Jan. , March,  May,  July,  Sept. ,   while  Nov. 20  fee$  ''  could,  Might ,  ''  be  waived ,  dependent  on  marketing  conditions  and  political  aspirations  -   -   -

This  offer  contains  risk,  so  options,  might  be  considered  - to  protect  from, '' ahe ''  polar  tsunami  of  info -  -

I  will  inform  you  of  the  company  directory,   being    ''   Ole  , Sven ,  Equine,  &  Guute ''  are  under  con-sideration ---            

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Senior Advisor

Re: Floor Talk, December 18, 2019

SW,  also  if  you  need  Pre-January 2020 advice,  con-tact me  at  my  beach  front get  away -  -  -

Zip  code  '''' 9 9  7 2 3 '''   or  area  code  907 -  and  the  operator  might,  could,  may  put  you  through  to  my  eX-tenson -  ( DISCLAIMER   -  this  product info con-tain$   ri$cK )  -  -  -    

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