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Veteran Advisor

Floor Talk January 7, 2021

At the close:

 

At the close, the March corn futures settled 1¢ lower at $4.94. May corn futures finished 1/2¢ lower at $4.95.

March soybean futures closed 6 1/4¢ lower at $13.55 1/2. May soybean futures finished 6 1/2¢ lower at $13.53 1/2.

March wheat futures closed 5 1/4¢ lower at $6.42 1/4.


March soymeal futures closed $6.10 short term lower at $432.20.


March soy oil futures closed 0.05 of a cent lower at 43.79¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.28 per barrel higher (+0.55%) at $50.91. The U.S. dollar is higher, and the Dow Jones Industrials are 253 points higher (+0.82%) 31,082 points.

 

Mike

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At midsession:

At midsession, the March corn futures are 2¢ lower at $4.93. May corn futures are 1 3/4¢ lower at $4.94 1/4.

March soybean futures are 18 3/4¢ lower at $13.42 1/2. May soybean futures are 18 3/4¢ lower at $13.41 1/2.

March wheat futures are 7¢ lower at $6.40.


March soymeal futures are $7.00 short term lower at $431.30.


March soy oil futures are 0.44 of a cent lower at 43.40¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.23 per barrel higher (+0.45%) at $50.86. The U.S. dollar is higher, and the Dow Jones Industrials are 257 points higher (+0.83%) 31,086 points.

Mike

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At 8:45am:

 

Soybean market shaves off a quick 16¢ Thursday.

 

 

Mike

 

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5 Replies
Honored Advisor

Re: Floor Talk January 7, 2021

On the WHO Big Show they were talking with Brian Hoops and Bill Biederman about China canceling some orders of soybeans.  Those beans were booked at lower prices than now, funny the eastern "super traders" wouldn`t cancel the higher priced bookings instead?   What ever they were up to, some "unknow destination" must`ve picked up the beans they didn`t want, as beans are up 14¢ overnight.

I know how salesmen are, but in order to call a sale "booked" they ought to require at least a non-refundable 10% down payment.  As it is now they just play games booking and canceling with no consequences.

 

snip:

Soybeans = 116,800 mt. vs. trade’s expectations of 400,000 mmt. to 800,000 mmt. China canceled 5 to 6 cargoes.

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Honored Advisor

Re: Floor Talk January 7, 2021

2021 award nominee for the best use of the term "salesmen".

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Honored Advisor

Re: Floor Talk January 7, 2021

Smiley Very Happy   SW, you know how salesmen are, at 8am they promise a customer 280 miles away that they`ll receive a overweight load by 10am the same morning...can ya do it?  "sure Mr Saleman, you buy a black Trans Am and run block for me and I`ll drive 140mph, yeah I can get the load to the Quad Cities by 10am...piece a cake" .  

Honored Advisor

Re: Floor Talk January 7, 2021

And that my friend is "just in time delivery"....

Honored Advisor

Re: Floor Talk January 7, 2021

Brought to us by the folks at central planning at USSA.

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