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Floor Talk, January 21, 2020
At the close:
At the close, the March corn futures finished 1 3/4¢ lower at $3.87 1/4. May corn futures closed 1 3/4¢ lower at $3.93.
March soybean futures finished 13 3/4¢ lower at $9.16 1/2. May soybean futures ended 13¢ lower at $9.29 3/4.
March wheat futures closed 11¢ higher at $5.81 1/2.
March soymeal futures closed $1.50 per short ton lower at $299.10. March soy oil futures finished $0.60 cents lower at 32.75¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.26 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 191 points lower.
Mike
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At 11am:
USDA's Weekly Export Inspection Report shows weak numbers, Wednesday.
Corn= 346,000 tons vs. a range of 450-800,000 tons.
Soybeans= 1.19 million tons vs. a range of 600-1.2 million tons
Wheat= 435,000 tons vs. a range of 400-600,000 tons.
Mike
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At midsession:
At midsession, the March corn futures are 2¢ lower at $3.87 1/4. May corn futures are 2¢ lower at $3.93.
March soybean futures are 13 3/4¢ lower at $9.16 1/2. May soybean futures are 13¢ lower at $9.30.
March wheat futures are 7 1/2¢ higher at $5.78.
March soymeal futures are $0.80 per short ton lower at $299.80. March soy oil futures are $0.74 cents lower at 32.61¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.28 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 39 points lower.
Mike
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At 8:45am:
In early trading, the March corn futures are 4 1/4¢ lower at $3.85. May corn futures are 4¢ lower at $3.91 3/4.
March soybean futures are 9 3/4¢ lower at $9.20. May soybean futures are 9 3/4¢ lower at $9.33 1/2.
March wheat futures are 1 3/4¢ higher at $5.72 1/4.
March soymeal futures are $1.40 per short ton lower at $299.20. March soy oil futures are $0.58 cents lower at 32.77¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.38 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 47 points lower.
Al Kluis, Kluis Advisors, says that investors want to see sales, as a result of these trade agreement announcements.
“Will we see any export sales come across the daily reporting system today? The strong price action on Friday was tied to reports that large corn sales were made. If traders are disappointed, then the bulls will have a difficult time holding support ” Kluis stated in a daily note to customers.
Kluis added, “The news burden is with the bulls over the short term. The bulls need to see friendly news headlines nearly every day or run the risk of the bears gaining traction.”
Mike
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Re: Floor Talk, January 21, 2020
This kind of coincides with the "John Deere low" . Rent and taxes due in about 5 weeks too.
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Re: Floor Talk, January 21, 2020
Another great day for our prices ehh
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Re: Floor Talk, January 21, 2020
Send your bills to mike and the traders they are the idiots controlling this.
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Re: Floor Talk, January 21, 2020
Folks these guys would be charging by the letter on this site if they knew they could make a quick buck. Takes a special kind of scum bag to profit off of others misfortune. (R) almost by definition.
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Re: Floor Talk, January 21, 2020
Another ''' Range ''' report cartoon - maybe - ?
My investment advice , being on Corn, Range of $2.oo to $6.oo in the Range of , 2020 thru 2040 -
Drought Range , next week , or so - - -
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Re: Floor Talk, January 21, 2020
So....the traders need to see bullish news everyday? They wouldn't know what to do with it if they got it.
On the flip side, the USDA is really good at their job of keeping American food inexpensive. Yeah right.......have any of you checked out a menu at a good steak place? Somebody's making money. We know who isn't.
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Re: "Investors want to see sales". Investors? Everybody wants to see sales, & sooner than later.
"Al Kluis, Kluis Advisors, says that investors want to see sales, as a result of these trade agreement announcements" before they get excited about prices.
It was a "pig in the poke" deal after all. Turns out that it may have been more of a "dog-in-the-poke" deal, as in "a real dog".
Investors and farmers alike have every right to see some real tangible results sooner than later because they were told that their sacrifice would be worth it.
I suspect that the Chinese set a trap for trump with the farmers as bait and now they've sprung the trap. The fact is that now the Chinese can just slow-walk this deal until late next year and nobody can object.
What we need to remember that as "bait", we get eaten, too.
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Re: Floor Talk, January 21, 2020
For what it's worth, saw this post on YT yesterday re: a video talking about "corn basis anomaly":
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Re: Floor Talk, January 21, 2020
tiger 1, maybe more check-off $$$$$ would help , with those menu$ , and at least a couple more conventions , of course -