cancel
Showing results for 
Search instead for 
Did you mean: 
marketeye
Veteran Advisor

Floor Talk, January 8, 2020

At the close:

At the close, the March corn futures finished 1/4¢ lower at $3.84 1/2. May corn futures ended 1/4¢ lower at $3.91.

March soybean futures closed 3 1/4¢ higher at $9.47 1/2. May soybean futures ended 3¢ higher at $9.60 1/4.

March wheat futures finished 2 1/2¢ higher at $5.52 3/4.



March soymeal futures closed $0.50 per short ton higher at $301.80.

 March soy oil futures settled 0.18 cents lower at 34.56¢ per pound.



In the outside markets, the NYMEX crude oil market is $3.16 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 197 points higher.

 

Mike

-----------

At midsession:

At midsession, the March corn futures are1 1/4¢ lower at $3.83 1/2. May corn futures are 1 1/2¢ lower at $3.90.

March soybean futures are 3 1/2¢ higher at $9.47 1/2. May soybean futures are 2 3/4¢ higher at $9.60.

March wheat futures are 1/2¢ higher at $5.50 3/4.



March soymeal futures are unchanged at $301.30.

 March soy oil futures are 0.06 cents higher at 35.10¢ per pound.



In the outside markets, the NYMEX crude oil market is $2.84 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 210 points higher.

Mike

--------

At 9:45am:

 

If you missed it, the USDA announced a fresh corn sale, Wednesday.

On Wednesday, private exporters reported to the USDA export sales of 207,000 metric tons of corn for delivery to unknown destinations during the 2020/2021 marketing year.

The marketing year for corn began Sept. 1.

 

What say you?

 

Mike

-------

At 9am:

In early trading, the March corn futures are 1/2¢ lower at $3.84. May corn futures are 1/2¢ lower at $3.91.

March soybean futures are 1 3/4¢ higher at $9.45 1/2. May soybean futures are 1¢ higher at $9.58 1/4.

March wheat futures are 1 1/4¢ higher at $5.52.



March soymeal futures are $0.40 per short ton lower at $301.70.

 March soy oil futures are 0.20 cents higher at 34.94¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.45 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 7 points higher.

Al Kluis, Kluis Advisors, says that investors are now eyeing this Friday’s USDA reports.

“Grain traders will continue to watch the headlines regarding the US and Iran ordeal. Estimates for the report on Friday suggest traders are expecting smaller crops than were reported by the USDA in December. Will we see small adjustments to yield and more significant changes to harvested acres? This question has been looming since the late June report on planted acres, ” Kluis stated in a daily note to customers.

Kluis added, “With the big USDA report on Friday and continued tensions with the US and Iran, it is a great time to buy put options. There are plenty of strategies available to protect old crop and new crop prices.”

 

Mike

0 Kudos
3 Replies
roarintiger1
Honored Advisor

Re: Floor Talk, January 8, 2020

I read a good article by Ray Grabanski today.   

https://www.agriculture.com/markets/analysis/not-if-fridays-usda-will-be-bullish-but-by-how-much?hid...

 

What say you?    

0 Kudos
rickgthf
Senior Advisor

Re:The real problem is ....

The real problem with corn sales is this year as of last week, we only have 18 MMT total commitments, last year, same time, 32 MMT, and the year before, 27 MMT.

0 Kudos
timetippingpt
Honored Advisor

Re: Floor Talk, January 8, 2020

Al is all in buying puts....great news....made a lot of money fading him over the years 🙂

0 Kudos