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Veteran Advisor

Floor Talk January 4

At the close:

At the close, the March corn futures settled 7 1/4 cents lower at $3.51 1/2. January soybean futures ended 8 1/4 cents lower at $8.56. 
March wheat futures finished 11 3/4 cents lower at $4.58 1/4. January soymeal futures closed $1.10 per short ton lower at $264.40. Jan. soyoil futures closed $0.63 lower at $30.12.  
In the outside markets, the Brent Crude oil market is $0.26 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 383 points lower.

 

Mike

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At 12:20pm:

At 12:20pm, the March corn futures are trading 7 cents lower at $3.51. January soybean futures are trading 10 cents lower at $8.54. 
March wheat futures are trading 10 3/4 cents lower at $4.59. January soymeal futures are $0.80 per short ton lower at $264.70. Jan. soyoil futures are trading $0.88 lower at $29.87.  
In the outside markets, the Brent Crude oil market is $0.39 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 363 points lower.

 

Peter Meyer, PIRA Energy grain analyst, says that the negative macro environment is certainly continuing despite the calendar turning to a new year.  
“Chinese stock market concerns along with much needed rains in Brazil are obvious negatives in the soy complex, while corn and wheat are facing new year tax sales from both U.S. and Argentine producers.  Not a great scenario but it’s starting to feel like it was a bit overdone as follow-through around $3.50 in corn and $8.50 in beans failed to materialize.  Big week ahead as traders position themselves for the January 12th reports.” 

 

 

Mike

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At 12-Noon:

If you missed it, on Monday, private exporters reported to the U.S. Department of Agriculture changes in destination of 217,000 tons of soybeans from unknown destinations to the Netherlands for delivery during the 2015/2016 marketing year.

The marketing year for soybeans began Sept. 1.

 

--All eyes are on the CFTC Report and what it is saying. .

 

Mike

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At mid-day:

Corn is down 6¢, soybeans are off 9¢, and wheat down 12.

 

The headlines are not helping:

--2015 was worst year for stocks since 2008.

--Today is the worst first day of the year since 1932.

--Today is the worst first day of the year in Europe ever!

 

Wow! What else is going to keep these farm markets under pressure? Rain in Brazil?

 

Mike

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At 10am:

At 10am, the March corn futures are trading 6 cents lower at $3.52. January soybean futures are trading 8 cents lower at $8.56. 
March wheat futures are trading 12 cents lower at $4.57. January soymeal futures are $1.30 per short ton lower at $264.20. Jan. soyoil futures are trading $0.58 lower at $30.17.  
In the outside markets, the Brent Crude oil market is $1.41 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 455 points lower.

 

 

Mike

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At 7:15am:

Early calls: Corn 1-2 cents lower, soybeans 4-6 cents lower and wheat 1-2 cents lower.

 

Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.51 higher.
Dollar =Lower.  
Wall Street = Seen lower by triple digits, with geopolitical tensions between Iran and Saudi Arabia sending Asian stocks surging lower.

World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.

 

 

 

More in a minute,

 

Mike

 
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Veteran Advisor

Re: Floor Talk January 4

HAPPY NEW YEAR ! (?)
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