Floor Talk January 23
Soybeans were lower overnight as weather conditions improve in Argentina. Less rain in the next couple of weeks likely will allow growers to finish planting. Beans were down about 8 cents, corn was off by a penny and HRW declined. Speaking of hard-red winter wheat, money managers pushed their net-long positions in the grain to the highest level since June 2014 as acreage dropped 12%. Overall winter wheat planting last year was the lowest since 1909 -- if that's not a bullish sign, I don't know what is.
Here's what happened overnight:
Brent Crude Oil = 1% lower.
West Texas Intermediate Crude Oil = 2% higher.
Dollar = down 0.4%.
Wall Street = U.S. stock futures lower in pre-market trading.
World Markets = Global stocks mixed as UK, French banks lower.
Re: Floor Talk January 23
I shipped a load of corn today that was sold in the fall. Wish I'd sold more at that money.
Today I was quoted $3.58 delivered to ADM in Cedar Rapids. Costs 18 cents to ship so that is $3.40 picked up. Local COOP was $3.33. Why do they wonder why I don't deal through them?