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Veteran Advisor

Floor Talk December 8

At the close:

At the close, the March corn futures settled 1/2 of a cent higher at $3.73 1/2. January soybean futures finished 5 1/2 cents lower at $8.76 3/4. 
March wheat futures ended 1 1/4 cents lower at $4.81 1/2. 
Jan. soymeal futures finished $2.60 per short ton lower at $275.40. Jan. soyoil futures closed $0.24 higher at $31.49.  
In the outside markets, the Brent Crude oil market is $0.27 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 126 points lower.

 

Mike

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At mid-session:

At mid-session, the March corn futures are trading 1 cent higher at $3.74. January soybean futures are trading 7 cents lower at $8.75. 
March wheat futures are trading 3/4 of a cent lower at $4.82. 
Jan. soymeal futures are $2.20 per short ton lower at $275.80. Jan. soyoil futures are trading $0.02 higher at $31.27.  
In the outside markets, the Brent Crude oil market is $0.31 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 166 points lower.

Mike North, President Commodity Risk Management Group, says that today's trade in soybeans is a continuation of the technical sell-off that began yesterday. 
“Corn is hovering ahead of tomorrow's report awaiting its release.  Traders are not looking for much by way of a change in US production,” North says 
The focus of tomorrow’s USDA Reports will be the demand side of the balance sheet and what effect it has on ending stocks, North says.  “At present, guesses do not look for much by way of a change domestically.  Production in South America will also be closely watched as the recent elections in Argentina promise to change the outlook on production interest and capacity.”

 

Mike

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At 9am:

In early trading, the March corn futures are trading 1 cen higher at $3.74. January soybean futures are trading 2 cents higher at $8.84. 
March wheat futures are trading 1 3/4 cents lower at $4.81. 
Jan. soymeal futures are $0.70 per short ton higher at $278.70. Jan. soyoil futures are trading $0.11 higher at $31.36.  
In the outside markets, the Brent Crude oil market is $0.63 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 194 points lower.

 

Mike

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At 7:45am:

Early calls: Corn 1-2 cents higher, soybeans 1-2 cents lower and wheat 1-2 cents lower.

 

Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.57 lower.
Dollar =Lower.  
Wall Street = Seen lower, with commodities weighing.

World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.

 

 

 

More in a minute,

 

Mike

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Advisor

Re: Floor Talk December 8

Prices +++++++++++++ that low
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