Floor Talk December 8, 2020

[marketeye]

At midsession:

At midsession, the March corn futures are 5¢ lower at $4.19. May corn futures are 5¢ lower at $4.21 3/4.

January soybean futures are 14 3/4¢ lower at $11.44 3/4. March soybean futures are 13¢ lower at $11.49 3/4.

March wheat futures are 5¢ lower at $5.72 1/2.


Jan. soymeal futures are $5.40 per short ton lower at $376.90.

Jan. soy oil futures are 0.66 of a cent lower at 37.37¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.18 per barrel lower (-0.39%) at $45.58. The U.S. dollar is lower, and the Dow Jones Industrials are 98 points higher (+0.33%) 30,168 points.

Mike

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At 8:45am:

Soybeans fall double-digits, Tuesday.

Mike

[cborman11]

Whoever controls these prices are some of the stupidest people on earth. 

[rickgthf]

Relax, southern Brazil got a little rain but it was real spotty in central Brazil.   Central Brazil, where most of the beans come from is still dry and while there is a little rain in the forecast it's not nearly enough to get them going well.

If it doesn't start raining more in a couple of weeks, their attitude about the soybeans is going to chance radically.

[roarintiger1]

The markets are moving the wrong way to ration demand. There are going to be some folks in for a rude awakening. 
They will be knocking on empty bin walls, wondering where all of USDA’s bushels went.