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Veteran Advisor

Floor Talk, February 4, 2020

At midsession:

At midsession, the March corn futures are 3 3/4¢ higher at $3.82 3/4. May corn futures are 3 1/4¢ higher at $3.88 3/4.

March soybean futures are 4 1/4¢ higher at $8.81 1/4. May soybean futures are 4 1/4¢ higher at $8.95.

March wheat futures are 7 1/2¢ higher at $5.62 1/4.

March soymeal futures are $1.70 per short ton lower at $288.10.

 March soy oil futures are $0.62 cents higher at 30.91¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.43 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 487 points higher.

 

Mike

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At 9:15am:

The CME Group, Tuesday, released its January average daily volume (ADV). For agricultural contracts, business was up vs. 2019.

--Agricultural ADV grew 16% compared to January 2019, including 21% growth in Agricultural options and 18% growth in Grain and Oilseeds futures and options ADV

Mike

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At 8:45am:

In early trading, the March corn futures are 3¢ higher at $3.81 3/4. May corn futures are 3 1/4¢ higher at $3.87 3/4.

March soybean futures are 5 1/4¢ higher at $8.82 1/4. May soybean futures are 5 1/4¢ higher at $8.96.

March wheat futures are 7 1/2¢ higher at $5.63.

March soymeal futures are $0.20 per short ton lower at $289.60.

 March soy oil futures are $0.64 cents higher at 30.93¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.63 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 387 points higher.

Al Kluis, Kluis Advisors, says that investors are watching to see when the market reacts to a U.S., China trade deal.

“When--and if--will China step in to buy bargain basement pork and soybeans from the U.S.? Those sales should start to show up in the US export sales reports next week, ” Kluis stated in a daily note to customers.

 

Mike

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