Floor Talk January 20

[Tony_Dreibus]

At 6:15am:

Early calls:

Wheat 4-6 lower, corn 1-2 lower and soybeans 4-6 lower.

Trackers:

Overnight wheat, soybeans lower while corn is little changed. 

Brent Crude Oil = $0.69 lower.

West Texas Intermediate Crude Oil = $0.87 lower.

Dollar = Up 0.1%

Wall Street = Stocks well lower pre-bell on concerns about global growth.

World Markets = Global stocks declining as investors worry about economic trajectory. 

[sw363535]

Thanks Tony,

That is painting bad news as thin as possible......

[Tony_Dreibus]

While the U.S. is reportedly importing wheat, it seems corn sellers are busy:

From the USDA: 

Private exporters reported to the U.S. Department of Agriculture export sales of 243,100 metric tons of corn for delivery to Mexico during the marketing year that started on Sept. 1.

Exporters are required to report to USDA any export sales activity of 100,000 tons or more of one commodity made in one day.

[Hobbyfarmer]

South Africa is importing corn, reportedly from Mexico, some or all of it white food grade ngmo, is Mexico just replacing it with cheaper  USA corn?  

Or just buying our corn cheap and direct shipping it?  We ship/sell quite a bit of white corn to them (Mexico) yearly already.

[sw363535]

Tony that wheat import to N Carolina is so small it would not have been reported to usda......

It looks like the Argentine government is trying to get some positive spin out of that embarassing political issue of taxing exports excessively....