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Registered: ‎05-03-2010
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Floor Talk January 11

[ Edited ]

At the close:

At the close, the March corn futures closed 5 1/4 cents lower at $3.50. March soybean futures ended 4 cents lower at $8.61 1/4. 
March wheat futures finished 9 1/2 cents lower at $4.69. March soymeal futures closed $1.20 per short ton higher at $269.90. March soyoil futures are trading $0.39 lower at $29.25.  
In the outside markets, the Brent Crude oil market is $2.14 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 26 lower.

 

Mike

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At 12-Noon:

Crude oil hits $31/barrel, a 12-year low.

 

Mike

------

At mid-session:

At mid-session, the March corn futures are trading 6 1/2 cents lower at $3.50. March soybean futures are trading 4 cents lower at $8.61. 
March wheat futures are trading 9 cents lower at $4.69. March soymeal futures are $0.30 per short ton higher at $269.00. March soyoil futures are trading $0.36 lower at $29.28.  
In the outside markets, the Brent Crude oil market is $1.45 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 17 higher.

Jack Scoville, The Price Futures Group senior market analyst, says the big money controls the farm markets, today.
“The move lower is driven, mostly, by fund and spec-selling on good Brazilian weather forecasts and widespread expectations for some big numbers tomorrow (USDA Report at 11am CT).”  
Scoville adds, “Plus, everyone is worried that the Chinese will stop buying U.S. soybeans, as they are reported to have big supplies of beans to go with the enormous supplies of corn in storage.”  
With very little commodity futures buying interest today, there is some consumptive buying interest in corn, as the $3.50 area seems to be an interesting level for some buyers, he says.  
“I tend to think we are overdoing it, but with the bearish report ideas out there and the China stuff around, selling has been working.  Chart patterns are weak as well.  Farmers are not doing much today, because it’s too cold.”.

 

Mike

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At the open:

At the open, the March corn futures are trading 3 1/4 cents lower at $3.53. March soybean futures are trading 1 1/4 cents lower at $8.64. 
March wheat futures are trading 3/4 of a cent higher at $4.79. March soymeal futures are $0.70 per short ton lower at $268.00. March soyoil futures are trading $0.02 lower at $29.62.  
In the outside markets, the Brent Crude oil market is $0.65 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 55 higher.

 

Mike

---------------

At 6:45am:

Early calls: Corn 1-2 cents lower, soybeans 3-5 cents lower and wheat 1-2 cents lower.

 

Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.72 lower.
Dollar =Higher.  
Wall Street = Seen higher with Asia problems still eyed.

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

 

 

 

More in a minute,

 

Mike

Esteemed Advisor
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Registered: ‎04-29-2011
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Re: Floor Talk January 11

The weather is cold.

The markets are cold.

The cold markets and weather are gonna slow down the grain movement.

The only things heating up are the wood stoves and the basis.

Advisor
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Re: Floor Talk January 11

roarintiger1,

 

This was not enough to move the markets higher today. But, the USDA did report some big, fresh exports Monday.

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

--Export sales of 120,000 metric tons of soybeans for delivery to China during the 2015/2016 marketing year; and

--Export sales of 248,000 metric tons of soybeans for delivery to unknown destinations during the 2015/2016 marketing year; and

--Export sales of 152,400 metric tons of corn for delivery to unknown destinations during the 2015/2016 marketing year.

Senior Advisor
Posts: 20,952
Registered: ‎05-13-2010
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Re: Floor Talk January 11


marketeye wrote:

roarintiger1,

 

This was not enough to move the markets higher today. But, the USDA did report some big, fresh exports Monday.

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

--Export sales of 120,000 metric tons of soybeans for delivery to China during the 2015/2016 marketing year; and

--Export sales of 248,000 metric tons of soybeans for delivery to unknown destinations during the 2015/2016 marketing year; and

--Export sales of 152,400 metric tons of corn for delivery to unknown destinations during the 2015/2016 marketing year.


How do you have deliveries to unknown destinations?

Senior Contributor
Posts: 2,911
Registered: ‎08-11-2014
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Re: Floor Talk January 11

they pick it up. Like the mrs driving me to a restaurant. I don't know where I'm going until I get there.

Senior Advisor
Posts: 20,952
Registered: ‎05-13-2010
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Re: Floor Talk January 11


OKdon wrote:

they pick it up. Like the mrs driving me to a restaurant. I don't know where I'm going until I get there.


OOOOOOOOOOOOOH. I thought maybe it was the number the government pulls out of it's arse to make the market move in the direction Goldman sucks wants it to move.