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Veteran Contributor

Floor Talk December 5

At the close:

At the close, the March corn futures settled 1/4¢ higher at $3.53. May futures finished 1/4¢ higher at $3.62 1/4. Jan. soybean futures ended 10 1/2¢ higher at $10.09.  March soybean futures closed 10 3/4¢ higher at $10.21. March wheat futures closed 2 1/2¢ lower at $4.32. January soy meal futures settled $5.80 per short ton higher at $343.30. January soy oil futures finished 0.06 higher at 33.50¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.69 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 50 points lower.

 

Mike

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At mid-session:

At mid-session, the March corn futures are steady at $3.53. May futures are 1/4¢ lower at $3.61. Jan. soybean futures are 10 1/2¢ higher at $10.09.  March soybean futures are 10 3/4¢ higher at $10.21. March wheat futures are 2 3/4¢ lower at $4.32. January soy meal futures are $5.20 per short ton higher at $342.70. January soy oil futures are 0.03 lower at 33.41¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.82 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 51 points lower.

 

Mike

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In early trading:

At 9am, the March corn futures are 1 3/4¢ higher at $3.55. May futures are 1 1/4¢ higher at $3.63. Jan. soybean futures are 15¢ higher at $10.13.  March soybean futures are 14 3/4¢ higher at $10.25. March wheat futures are 1/4¢ lower at $4.35. January soy meal futures are $2.50 per short ton higher at $340.00. January soy oil futures are 0.08 lower at 33.36¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.82 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 16 points lower.

 

Mike

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Soybeans were higher in overnight trading on South American weather while grains were little changed amid a lack of fundamental news. The threat of dry weather remains in parts of Argentina, which is underpinning beans. There's been little demand news for any of the big three crops, so there's been little shift in prices recently. Fundamentally, it's been very quiet since the end of the harvest. Export inspections week-to-week were better for soybeans and wheat but lower for corn. On a year-to-year basis, it's not good as all three are trailing year-ago levels. In weather news, it's going to be dry and windy in much of the central and southern Midwest and Plains today, which means an increased chance of wildfires. Check out all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-december-5.

 

Brent Crude Oil = down 0.4%

West Texas Intermediate = down 0.6%

Dollar = down 0.1%.

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

World Markets = Global stocks mixed overnight.

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4 Replies
Veteran Advisor

Re: Floor Talk December 5

After talk of the volcano eruption causing cooler temps. next year wondering if all the wildfires out west caused us to have a cooler 2017  growing season and the bigger yields.

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Veteran Advisor

Re: Floor Talk December 5

Gio is happy today
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Honored Advisor

Re: Floor Talk December 5

 At least something on the board has value

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Veteran Advisor

Re: Floor Talk December 5

ElCheapo,

 

I was out in the country today and saw the market early.  Yes, it is moving up and beans have been struggling but pushing onward.  I see more positive days to come.  

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