Floor Talk January 22, 2021

[marketeye]

At midsession:

At midsession, the March corn futures are 8 1/2¢ lower at $5.15 1/4. May corn futures are 8 3/4¢ lower at $5.18.

March soybean futures are 20 1/2¢ lower at $13.49 1/4. May soybean futures are 20 1/4¢ lower at $13.48 3/4.

March wheat futures are 17¢ lower at $6.43 1/4.



March soymeal futures are $5.30 short term lower at $432.90.


March soy oil futures are 0.54 lower at 42.89¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.50 per barrel lower (-0.94%) at $52.63. The U.S. dollar is lower, and the Dow Jones Industrials are 169 points lower (-0.54%) at 31,006 points.

Mike

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At 8:45am:

The U.S. corn, soybean exports are up, prices are down Friday.

Mike

[cborman11]

Oh what a shock

[too close for comfort]

If the buyers are taking a break after a multimonth bullish trend, then we could indeed see prices slide, even with strong fundamentals.”

• Corn = 1.483 million metric tons (mmt.) vs. the trade’s expectations of between 600,000 mmt. and 1.20 mmt. 
• Soybeans = 2.641 mmt. vs. trade’s expectations of 750,000 mmt. to 1.50 mmt. Of the total exports, China bought 1.183 mmt.                                                                                                                                                                                                 Apparently he's not talking about actual buyers. 

[sw363535]

We know what the difference is ................ inject usda report and their partners the fund managers and now fundamentals are out the window short term.

Its "FEAR Factor" Friday.

[roarintiger1]

Is this the same as the “Joe” factor? 

[sw363535]

Its far bigger than the puppet Joe

[rickgthf]

Oh, you guys, they had a little rain overnight in Brazil, not a lot, & not everywhere but enough to knock the edge off prices.

The last I looked traders had 5.9 billion bushel of corn bought, twice as much as normal this time of year. They can't be blamed for being a little nervous and for wanting to take off some risk.

[sw363535]

They better get it in a combine so it gets here when we need it.

[k-289]

Have  a  "  limit  down "  supply  of  available  20  &  40  foot  ocean  going  containers ,  waiting  for  a  backhaul  to  Asia -  - -