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marketeye
Veteran Advisor

Floor Talk January 22, 2021

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

---------

At 8:45am:

 

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

 

 

Mike

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8 Replies
cborman11
Senior Contributor

Re: Floor Talk January 22, 2021

Oh what a shock

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too close for comfort
Senior Contributor

Re: Floor Talk January 22, 2021

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. 
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sw363535
Honored Advisor

Re: Floor Talk January 22, 2021

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.

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roarintiger1
Honored Advisor

Re: Floor Talk January 22, 2021

Is this the same as the “Joe” factor? 

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sw363535
Honored Advisor

Re: Floor Talk January 22, 2021

Its far bigger than the puppet Joe

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rickgthf
Senior Advisor

Re: Oh you guys, they had a little rain ...

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.

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sw363535
Honored Advisor

Re: Oh you guys, they had a little rain ...

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

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k-289
Senior Advisor

Re: Oh you guys, they had a little rain ...

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

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