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Veteran Contributor

Floor Talk December 6

At the close:

At the close, the March corn futures settled 1 1/4¢ higher at $3.51, while May futures finished 1¢ higher at $3.67 1/4 per bushel. January soybean futures finished 4 1/4¢ higher at $10.47 3/4, while March soybean futures closed 4 1/2¢ higher at $10.57 3/4. March wheat futures finished 1 1/2¢ lower at $4.06 3/4. January soy meal futures finished $2.40 short ton higher at $321.90. January soy oil futures closed $0.15 higher at 37.82¢ per pound.  In the outside markets, the Brent crude oil market is $0.93 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 12 points higher.

 

Mike

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At mid-session:

At mid-session, the March corn futures are 3 1/4¢ higher at $3.62, while May futures are 3¢ higher at $3.69 per bushel. January soybean futures are 14 1/4¢ higher at $10.57, while March soybean futures are 14 1/4¢ higher at $10.67. March wheat futures are 3¢ higher at $4.11. January soy meal futures are $7.30 short ton higher at $326.80. January soy oil futures are $0.07 higher at 37.74¢ per pound.  In the outside markets, the Brent crude oil market is $1.01 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 18 points lower.

 

Mike

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At 9:11am:

If you missed the huge 8am USDA Export Sales announcement, here it is:

 

On Tuesday, private exporters reported to the U.S. Department of Agriculture the following activity:

  • --Export sales of 198,000 metric tons of soybeans for delivery to China during the 2016/2017 marketing year; and
  • --Export sales of 276,000 metric tons of corn for delivery to South Korea during the 2016/2017 marketing year; and
  • --Export sales of 378,000 metric tons of soybeans for delivery to unknown destinations. Of the total 246,000 metric tons is for delivery during the 2016/2017 marketing year and 132,000 metric tons is for delivery during the 2017/2018 marketing year.

The marketing year for corn and soybeans began Sept. 1.

 

Mike

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At 9am:

In early trading, the March corn futures are 1/4¢ lower at $3.59, while May futures are 1/4¢ lower at $3.66 per bushel. January soybean futures are 10¢ higher at $10.53, while March soybean futures are 10¢ higher at $10.63. March wheat futures are 1¢ higher at $4.09. January soy meal futures are $2.50 short ton higher at $322.00. January soy oil futures are $0.16 higher at 37.83¢ per pound.  In the outside markets, the Brent crude oil market is $1.08 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 22 points lower.

 

Mike

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Soybeans rose for a second overnight session after China reportedly bought 426,000 metric tons from US inventories. Demand has been strong, and probably will continue to be strong for a while, as buyers take advantage and keep filling needs. If you're in the northern Plains I hope you like winter as a blizzard that's expected to dump a foot of snow is moving through North Dakota right now. Strong winds and bitterly cold temperatures are tagging along, making the weather miserable for anybody who needs to be outside. 
 

Here's what happened overnight:

 

Brent Crude Oil = 1% lower.
West Texas Intermediate Crude Oil = 1.4% lower.

Dollar = up 0.2%.

Wall Street = U.S. stock futures mixed in overnight trading.
World Markets = Global stocks little changed.

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Honored Advisor

Re: Floor Talk December 6

Wow........It looks like the grain store is still open and everything is on sale.    

 

Anyone have the numbers on where the exports stand year over year?  How about the numbers on what the USDA predicted on their latest exports numbers?   The final carryover numbers are certainly a moving target...........lower.   Smiley Wink

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