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Veteran Contributor

Floor Talk December 22

At mid-session:

At mid-session, the March corn futures are 3/4¢ lower at $3.46. January soybean futures are 6¢ lower at $10.00, while March soybean futures are 6 1/4¢ lower at $10.10. March wheat futures are 1 1/2¢ lower at $3.98. January soy meal futures are $0.20 short ton higher at $313.80. January soy oil futures are $0.57 lower at 35.77¢ per pound.  In the outside markets, the Brent crude oil market is $0.41 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 49 points lower at 19,900.

 

Jason Roose, U.S. Commodities grain analyst, says a selling mentality has set in on the soybean market.
“The soybean market is continuing its risk off trade today with favorable weather in Brazil and Argentina as production estimates grow . A potential slow down in Chinese bean purchases is also adding to the long liquidation,” Roose says.

 

Mike

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At 9:30am:

The USDA released its Weekly Export Sales Report Thursday. Soybeans beat, corn fell within the street's expectations.

 

Wheat= 297,800 metric tons vs. the trade’s expectations of between 350,000-600,000 metric tons,

Corn= 1.25 million mt. vs. the trade’s expectations of between 700,000-1,600,000 metric tons,

Soybeans= 1.81 million mt. vs. the trade’s expectations of 1,300,000-2,000,000 metric tons

Soybean meal = 139,200 mt vs. the trade’s expectations of 125,000-275,000 metric tons.     

What say you?

 

Mike

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At 9:15am:

Did you miss the 8am USDA Report Thursday? Here it is:

 

Private exporters reported to the U.S. Department of Agriculture export sales of 100,400 metric tons of corn for delivery to Mexico during the 2016/2017 marketing year.

The marketing year for corn began Sept.

 

Mike

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At 9:00am:

In early trading, the March corn futures are 3/4¢ lower at $3.46 1/2. January soybean futures are 2 3/4¢ lower at $10.04, while March soybean futures are 3 1/4¢ lower at $10.13 3/4. March wheat futures are 1¢ lower at $3.98. January soy meal futures are $0.40 short ton higher at $314.00. January soy oil futures are $0.43 lower at 35.91¢ per pound.  In the outside markets, the Brent crude oil market is $0.33 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 27 points lower at 19,914.

 

Mike

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Soybeans and corn were lower overnight as investors focus on the rain in South America.Soybeans were down about 4 cents and corn lost a penny. Both Chicago and KC wheat contracts were unchanged. Analysts and economists are expecting another year of subdued prices amid the glut in corn and beans. 

 

 

Here's what happened overnight:

 

Brent Crude Oil = 0.5% lower.

West Texas Intermediate Crude Oil = 0.5% lower.

Dollar = down 0.1%.

Wall Street = U.S. stock futures lower in overnight trading.
World Markets = Global stocks mixed as mining companies lower. 

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Veteran Advisor

Re: Floor Talk December 22

I'm curious about the wording that grains are lower overnight because "investors" focus......

Any comments on who "investors" are?  Do the reports mean speculators?  Traders?  Commercials?  Producers?  I'm not sure I understand "investors".

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Veteran Contributor

Re: Floor Talk December 22

Investors are anybody who trades grains/soybeans. Could be specs, board traders, hedgers, farmers, etc etc etc.

Some people say `the trade is focused on ...' but I don't like using `the trade' because that's even less of a descriptor than `investors.' 

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