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Veteran Advisor

Floor Talk December 5

VIDEO: USDA/WASDE Report Preview

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At the close:

The March corn futures settled 5 1/4 cents higher at $3.95 per bushel.
January soybean futures closed 25 1/2 cents higher at $10.36.

 

March wheat futures finished 4 1/4 cents higher to $5.94. The January soybean meal futures closed $8.60 per short ton higher at $366.40. January soyoil futures closed $0.38 higher at $32.08.

 

In the outside markets, the crude oil market is lower by $0.88, the U.S. Dollar is higher and the Dow Jones Industrials are 58 cents higher.

 

Mike

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At mid-session:

The March corn futures are trading 4 3/4 cents higher at $3.94 per bushel.
January soybean futures are trading 16 cents higher at $10.26.

 

March wheat futures are trading 4 1/4 cents higher to $5.94. The January soybean meal futures are trading $6.90 per short ton higher at $364.70. January soyoil futures are trading $0.21 higher at $31.91.

 

In the outside markets, the crude oil market is lower by $1.04, the U.S. Dollar is higher and the Dow Jones Industrials are 76 cents higher.

 

Jacob Burks, First Capitol Ag Risk Advisor, says that the fresh soybean sale Friday is supporting the day’s rally. “I’m hearing big sale to unknown this morning.  Exports have been outstanding lately, even though our dollar is very high some think importers are addressing their needs now because they think the dollar is going to continue to rise.  Corn and beans seem to be in a range bound trade looking for some solid info to trade.  Probably a stocks number in January!”

 

Mike

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At 8:50am:

On Friday, private exporters reported to the U.S. Department of Agriculture export sales of 240,000 metric tons of soybeans for delivery to unknown destinations during the 2014/2015 marketing year. 

 

The marketing year for soybeans began Sept. 1.

 

Mike

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At the open:

The March corn futures are trading 1/2 of a cent lower at $3.89 per bushel.
January soybean futures are trading 3 1/4 cents higher at $10.13.

 

March wheat futures are trading 2 cents lower to $5.87. The January soybean meal futures are trading $0.90 per short ton higher at $358.70. January soyoil futures are trading $0.15 higher at $31.85.

 

In the outside markets, the crude oil market is lower by $0.37, the U.S. Dollar is higher and the Dow Jones Industrials are 31 cents higher.

 

Mike

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At 7:25 am:

 

Early calls: Corn is 2-4 cents lower, soybeans 2-4 cents lower and wheat 7-9 cents lower.

 

Trackers:
Overnight grain, soybean markets = Trading mostly lower.
Crude Oil = $0.37 lower per barrel at $69.27.
Dollar = Higher
Wall Street = Higher with U.S. Labor Report in focus.

World Markets = Europe stocks were mostly higher, Asia/Pacific stocks were higher.

 

 

More in a minute,

 

Mike

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