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Tony_Dreibus
Veteran Contributor

Floor Talk January 26

At the close:

At the close, the March corn futures settled 2 1/2¢ lower at $3.63 3/4, and new crop December 2017 futures finished 3¢ lower at $3.90 3/4 per bushel. March soybean futures finished 5 3/4¢ lower at $10.49 1/2, while November 2017 soybean futures finished 2 1/4¢ lower at $10.23 1/4. March wheat futures finished 2 1/2¢ higher at $4.27. March soy meal futures closed $0.90 short ton lower at $342.40. March soy oil futures settled $0.40 lower at 34.47¢ per pound.  In the outside markets, the Brent crude oil market is $1.11 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 29 points higher at 20,098.

 

Mike

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At mid-session:

At mid-session, the March corn futures are 3 1/2¢ lower at $3.62, and new crop December 2017 futures are 3 3/4¢ lower at $3.90 per bushel. March soybean futures are 7 1/2¢ lower at $10.47, while November 2017 soybean futures are 3 3/4¢ lower at $10.21. March wheat futures are 1 1/2¢ lower at $4.23. March soy meal futures are $1.50 short ton lower at $341.80. March soy oil futures are $0.45 lower at 34.42¢ per pound.  In the outside markets, the Brent crude oil market is $1.15 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 31 points higher at 20,100.

 

Mike

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If you missed it at 7:30am Thursday, here is the USDA's Weekly Export Sales Report:

 

Wheat=  957,300 metric tons vs. the trade's expectations of between 200,000-525,000 mt.

 

Corn= 1.39 million mt. vs. the trade's expectations of between 700,000-1,075,000 mt.

 

Soybeans= 666,400 mt. vs. the trade's expectations of between 300,000-850,000 mt.

 

Soybean meal= 282,900 mt. vs. the trade's expectations of between 125,000-250,000 mt.

 

Mike

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In early trading:

At 9am, the March corn futures are 1¢ lower at $3.65, and new crop December 2017 futures are 1 1/2¢ lower at $3.92 per bushel. March soybean futures are 1¢ lower at $10.54, while November 2017 soybean futures are 1 1/4¢ lower at $10.24. March wheat futures are 4 1/2¢ higher at $4.29. March soy meal futures are $0.10 short ton higher at $343.40. March soy oil futures are $0.15 lower at 34.72¢ per pound.  In the outside markets, the Brent crude oil market is $0.98 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 15 points higher at 20,083.

 

Mike

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Corn and beans were lower overnight as investors worry about what's going to happen to overseas trade in the near term. Corn fell 2 cents and beans were down about 3 cents. Wheat futures were off by about a penny. Ethanol production in the week that ended on Jan. 20 declined from a record for the first time this year, according to the Energy Information Administration. The drop was small so it's not too concerning, but stockpiles rose for a third straight week, an indicator that output is besting demand, at least for now. 


Here's what happened overnight:

 

Brent Crude Oil = 0.5% higher. 

West Texas Intermediate Crude Oil = 0.2% higher.

Dollar = up 0.2%.

Wall Street = U.S. stock futures modestly higher in pre-market trading.

World Markets = Global stocks slightly higher.

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