Floor Talk December 30
At the close of 2016:
At the close, the March corn futures settled 2 1/4¢ higher at $3.52, and new crop December 2017 finished 3/4¢ higher at $3.80 per bushel. March soybean futures ended 8 3/4¢ lower at $10.04, while November 2017 soybean futures finished 4 1/4¢ lower at $9.89 1/4. March wheat futures closed 3 1/4¢ higher at $4.08. March soy meal futures closed $2.40 short ton lower at $316.60. March soy oil futures closed $0.13 lower at 34.66¢ per pound. In the outside markets, the Brent crude oil market is $0.15 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 62 points lower at 19,765 points.
Did you see the USDA Weekly Export Sales released Friday? Here are the numbers:
Wheat = 582,500 metric tons vs. the trade’s expectations of 250,000-500,000 metric tons.
Corn= 1.004 million mt vs. the trade’s expectations of 800,000-1,200,000 metric tons,.
Soybeans= 979,200 vs. the trade’s expectations of between 800,000-1,500,000 mt.
Soybean meal= 296,400 mt vs. the trade’s expectations of 100,000-250,000 metric tons.
What say you?
In early trading, the March corn futures are 2 3/4¢ higher at $3.52 1/2, and new crop December 2017 futures are 2 1/2¢ higher at $3.81 per bushel. March soybean futures are 5 3/4¢ lower at $10.07, while November 2017 soybean futures are 3 3/4¢ lower at $9.89 3/4. March wheat futures are 4¢ higher at $4.08 3/4. March soy meal futures are $3.80 short ton lower at $315.20. March soy oil futures are $0.04 higher at 34.83¢ per pound. In the outside markets, the Brent crude oil market is $0.12 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 29 points lower at 19,793 points.
Soybeans, corn and wheat were all little changed overnight as investors on LaSalle Street are probably already celebrating the end of 2016. Corn was down about a penny, beans were up less than a cent and wheat was down about 1.5 cents in overnight trading. The Energy Information Administration said yesterday that ethanol production and stockpiles both fell for a second straight week, but it looks like output will be another record this year. Have a safe and Happy New Year out there and remember to let someone else do the driving! As my father used to joke ... `See ya next year!'
Here's what happened overnight:
Brent Crude Oil = 0.2% lower.
West Texas Intermediate Crude Oil = 0.3% lower.
Dollar = down 0.5%.
Wall Street = U.S. stock futures higher in overnight trading.
World Markets = Global stocks down slightly, following oil prices.
Re: Floor Talk December 30
Happy New Year Tony and to everyone else that looks after this website.
Hopefully, 2017 will be less dramatic, politically, socially, & financially.