Floor Talk January 12, 2021 (Report Day)

[marketeye]

At the close:

At the close, the March corn futures finished 25¢ higher at $5.17 1/4, the daily limit. May corn futures settled 25¢ higher at $5.19.

March soybean futures finished 45 3/4¢ higher at $14.18 1/2. May soybean futures closed 43 3/4¢ higher at $14.13 3/4.

March wheat futures finished 30 1/2¢ higher at $6.65 3/4.


March soymeal futures closed $18.60 short term higher at $465.40.


March soy oil futures ended unchanged at 42.63¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.84 per barrel higher (+1.61%) at $53.09. The U.S. dollar is lower, and the Dow Jones Industrials are 68 points higher (+0.22%) at 31,077 points.

Mike

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At 11:25am:

USDA releases bullish report. Corn locks limit up.

USDA tightens corn, soybean ending stocks Tuesday.

Mike

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At 8:45am:

Ag markets rise ahead of USDA report Tuesday.

Mike

[Hobbyfarmer]

"Al Kluis, Kluis Advisors, says that the outside investors could have a say in the future direction of grain prices."

Right here boy's and girl's is two of ag s problems year in and year out.

A self proclaimed expert and people with no skin and no production, no handling, no end use distorting the values of millions of people's livelihood.

[roarintiger1]

Boy, ain’t that the truth!

[Hobbyfarmer]

The last five years 3 out of four times it/they have worked against better prices.

I'm hoping/betting this will not be one of them.

I'm long in the bin.

[illinifarmer]

Very fortunate Hobby good to hear.  Many locals like myself are sold out at current year end just to pay the bills.  Hopefully 21’ cooperates better for us up here.  Weather and markets 

[sw363535]

And a press that blindly follows the easy .......

[Packard27]

Anyone care to take an anonymous SWAG about what is going on in the grain commodities markets today?

This amateur observer is curious to hear some "skin in the game" ag opinions.

[roarintiger1]

Well, I sold some corn and soybeans before the report. That’s really all you need to know as to why the markets are up. 

[sw363535]

This had been a wonderful trend by accomplishing what it had without a limit up day.  Today is the spec money trying to make a quick buck with usda's help---criminal activity by those with masks and microphones.   notice how the market reacted well before the report came out..... some get the info leaked early..... just the way greed and corruption works.

I am watching basis the next couple of days...... A normal trend is to have a limit day and let the political contributors have the early report..... then soon after the move (depending on its strength) take half of it back from the "storer" adjusting the basis down.

But if this is a truly supply driven trend the market will ignore it all and keep grain moving.  If SA has trouble delivering late or in limited supply we may see shipping activity limited by countries protecting supply... other than the US who will continue chasing its tail and act entitled.

[sw363535]

Or usda will dump 40% of its bushels on the market.......