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Veteran Contributor

Floor Talk December 8

At the close:

The March corn futures finished 1 1/4¢ higher at $3.52 3/4. May futures ended 1¢ higher at $3.61. Jan. soybean futures closed 2 1/4¢ lower at $9.89 3/4.  March soybean futures settled 2 1/4¢ lower at $9.89 3/4. March wheat futures closed 2 1/2¢ lower at $4.19. January soy meal futures closed $3.50 per short ton lower at $331.70. January soy oil futures closed 0.29 higher at 33.62¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.74 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 78 points higher.

 

Mike

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At 10:40:

The March corn futures are 1 1/2¢ higher at $3.53. May futures are 1 3/4¢ higher at $3.61. Jan. soybean futures are 3¢ lower at $9.89.  March soybean futures are 3 1/4¢ lower at $10.01. March wheat futures are 1/4¢ lower at $4.21. January soy meal futures are $1.80 per short ton lower at $333.40. January soy oil futures are 0.21 lower at 33.12¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.70 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 59 points higher.

 

Not that it's helping, but the USDA announced fresh soybean sales Friday.

Private exporters reported to the U.S. Department of Agriculture the following activity:

  • --Export sales of 268,000 metric tons of soybeans for delivery to China during the 2017/2018 marketing year; and
  • --Export sales of 129,000 metric tons of soybeans for delivery to unknown destinations. Of the total 63,000 metric tons is for delivery during the 2017/2018 marketing year and 66,000 metric tons is for delivery during the 2018/2019 marketing year.

The marketing year for soybeans began Sept. 1.

 

Mike

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Soybeans and grains were higher overnight as investors don't seem to want to move the markets much ahead of Tuesday's WASDE. Dry Argentina weather is propping up markets while weak export sales-to-date are keeping them capped. Beans were up about 4 cents, corn gained about 2 cents and wheat was up 1-2 cents. The weekly export sales report was decent with soybeans easily topping forecasts and corn and wheat within the range of expectations, but so far this marketing year sales have lagged behind last year's pace. In weather news, it's going to be cold and wintry as a storm comes off Lake Michigan into southwestern Michigan and northwestern Ohio, where several inches of snow are expected. 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-8.

 

Brent Crude Oil = up 1.5%.

West Texas Intermediate = up 1.6%.

Dollar = up 0.2%.

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

World Markets = Global stocks higher overnight.

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6 Replies
Honored Advisor

Re: Floor Talk December 8

It is December,,,,,,,,,,, harvest is over except for a few locations...

 

Maybe it is time to note that in the southern high plains we are dry and been that way since September...

 

Was a blessing getting those below average, late planted crops out of the field,  but wheat once again, is hit and miss in weak condition going into "winter kill" temperatures.

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Veteran Advisor

Re: Floor Talk December 8

SW.... Merry Christmas ?????
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Honored Advisor

Re: Floor Talk December 8

Well lookie there.........China buys more soybeans.........another win for the guy in the white house.   Smiley Wink

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Veteran Advisor

Re: Floor Talk December 8

Lookie there... soybeans sold to china, and price drops

Not a win

But when LESS THAN 1/3 of the nation disapproves

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Honored Advisor

Re: Floor Talk December 8

At least I was winking after my statement.   Smiley Happy

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Veteran Advisor

Re: Floor Talk December 8

😶 sorry my smart phone doesn't have
A winker !!
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