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marketeye
Veteran Advisor
‎12-23-2015 08:39 AM

Floor Talk December 23

Christmas Holiday Trading Hours:

Basically open until noon tomorrow Thursday. Closed on Christmas Day. Next week, farm marets will be open regular hours including Sunday night through Thursday. And then, Thursday night and Friday the markets are closed.  The currencies and like that got some extra hours, but basically things are shut down after 12 tomorrow (Thursfay).

 

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At the close:

At the close, the March corn futures finished 3/4 of a cent lower at $3.65. March soybean futures ended 4 3/4 cents lower at $8.80 3/4. 
March wheat futures closed 2 1/4 cents lower at $4.69 1/2. January soymeal futures closed $4.40 per short ton lower at $274.20. Jan. soyoil futures finished $0.07 higher at $30.76.  
In the outside markets, the Brent Crude oil market is $1.24 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 170 points higher.

 

Jack Scoville, The PRICE Futures Group Senior Market Analyst, says that it remained pretty quiet today, with the beans down on the forecasts for better weather in Brazil. 
"And just now it looks like people are selling as the USD has started to turn higher.  Some talk of commercial buying in all three markets which I have not seen.  Most of the action seems to be position squaring as much as anything.  People are pretty bearish though and think there is plenty to move in South America.  They are mostly right but not many are making a deal about the Brazil weather even though it has gotten a lot of mention in the press lately.  There is some crop loss but not too much yet.  But if the rains don’t pan out things could get real interesting here in Chicago," Scoville says.

 

Mike

 

------At mid-session:

At mid-session, the March corn futures are trading 3/4 of a cent lower at $3.65. January soybean futures are trading 2 3/4 cents lower at $8.82. 
March wheat futures are trading 1/2 of a cent higher at $4.72. January soymeal futures are $2.70 per short ton lower at $275.90. Jan. soyoil futures are trading $0.06 higher at $30.75.  
In the outside markets, the Brent Crude oil market is $0.57 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 123 points higher.

 

Mike

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At the open:

In early trading, the March corn futures are trading unchanged at $3.66. January soybean futures are trading 1 cent lower at $8.84. 
March wheat futures are trading 1/2 of a cent higher at $4.72. January soymeal futures are $0.60 per short ton lower at $276.10. Jan. soyoil futures are trading $0.07 higher at $30.51.  
In the outside markets, the Brent Crude oil market is $0.58 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 135 points higher.

 

Mike

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