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Tony_Dreibus
Veteran Contributor

Floor Talk December 19

At the close:

At the close, the March corn futures settled 1/2¢ higher at $3.47 1/2. May futures closed 1/2¢ higher at $3.55 3/4. Jan. soybean futures finished 5 1/2¢ lower at $9.56.  March soybean futures settled 5 3/4¢ lower at $9.66 3/4. March wheat futures ended 1¢ lower at $4.19 1/2. January soy meal futures closed $3.30 per short ton lower at $315.20. January soy oil futures closed 0.21 higher at 33.39¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.33 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 13 points lower.

 

Mike

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At mid-session:

At mid-session, the March corn futures are steady at $3.47. May futures are 1/4¢ higher at $3.55. Jan. soybean futures are 4 1/2¢ lower at $9.57.  March soybean futures are 4 3/4¢ lower at $9.67. March wheat futures are 1/2¢ lower at $4.20. January soy meal futures are $2.80 per short ton lower at $315.70. January soy oil futures are 0.21 higher at 33.23¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.29 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 41 points lower.

 

Mike

 

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At 10am:

In case you missed it, the USDA announces fresh soybean exports Tuesday.

 

Private exporters reported to the U.S. Department of Agriculture export sales of 145,000 metric tons of soybeans for delivery to unknown destinations during the 2018/2019 marketing year.

The marketing year for soybeans began Sept. 1.

 

Mike

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At 8:55am:

At 9am, the March corn futures are 3/4¢ higher at $3.47. May futures are 1/2¢ higher at $3.55. Jan. soybean futures are 1/2¢ higher at $9.62.  March soybean futures are 1/4¢ higher at $9.72. March wheat futures are 2 1/4¢ higher at $4.22. January soy meal futures are $0.40 per short ton lower at $318.10. January soy oil futures are 0.18 higher at 33.20¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.22 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 47 points lower.

 

Mike

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Corn and beans were little changed overnight as the holiday mode is in full effect. The traders who are in this week don't have much in the way of fundamentals to trade as the weather in Argentina has moderated. Export sales from the US showed some signs of hope last week but are still pretty dismal this year, but let's hope that improves after the first of the year. The University of Illinois said Dec. 1 stockpiles likely were lower than a year ago despite lagging exports due to increased use for ethanol, feed and seed. Of note, however, crude oil prices are rising again today while the dollar weakens, so that combination is a plus for the ags. In weather news, it's going to be cold and snowy across the northern Plains and northern Midwest the rest of the week -- not too shocking considering it's December in the Heartland. Get all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-december-19.

 

 

Brent Crude Oil = up 0.5%.

West Texas Intermediate = up 0.7%.

Dollar = down 0.2%.

Wall Street = U.S. stock futures higher in pre-market trading.

World Markets = Global stocks higher overnight.

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4 Replies
roarintiger1
Honored Advisor

Re: Floor Talk December 19

It won't be much of a holiday on the farm this year. While looking into prepaying some 2018 expenses to help on taxes, the realization has hit me that many farmers won't need to do this. 

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elcheapo
Veteran Advisor

Re: Floor Talk December 19

In case you missed it....soybean export sales announcement......and the beans go down

Yes Virginia, the market is always right
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illinifarmer
Advisor

Re: Floor Talk December 19

Everyday down again these greedy thieves unbelievably crooked
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lsc76cat
Veteran Advisor

Re: Floor Talk December 19

In case you missed it:

"Export sales from the US showed some signs of hope last week but are still pretty dismal this year, but let's hope that improves after the first of the year."

 

We're significantly behind last year's export pace and Argy got rain over the weekend.

Not too hard to understand why the bean market goes down.

 

 

 

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