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Veteran Advisor

Floor Talk June 25

At the close:

 

The July corn futures contract closed 2 cents lower at $4.41.

The Dec. corn futures finished 3/4 of a cent lower at $4.40.

 

The July soybean futures contract closed 2 1/4 cents higher at $14.15.

The Nov. soybean futures ended 4 1/2 cents higher at $12.29.

 

Sep wheat futures settled 3 1/2 cents higher at $5.84.

 

The Dec soymeal futures contract closed $3.50 per short ton higher at $390.60. The Dec. soyoil futures finished $0.34 lower at $40.83.

In the outside markets, the NYMEX Brent crude oil is $0.43 per barrel higher, the dollar is lower and the Dow Jones Industrials are 43 points higher.

 

Mike

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At mid-session:

The July corn futures contract is trading 2 1/2 cents lower at $4.40.

The Dec. corn futures are trading 1/4 of a cent lower at $4.40.

 

The July soybean futures contract is 2 1/4 cents higher at $14.15.

The Nov. soybean futures are trading 3 cents higher at $12.27.

 

Sep wheat futures are 1 3/4 cents higher at $5.82.

 

The Dec soymeal futures contract is trading $2.30 per short ton higher at $389.40. The Dec. soyoil futures are trading $0.22 lower at $40.95.

 


In the outside markets, the NYMEX Brent crude oil is $0.10 per barrel higher, the dollar is lower and the Dow Jones Industrials are 25 points higher.

 

Mike

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At 10:25am:

The markets are a tick up or tick down. Not much cooking here. Al Kluis, Kluis Commodities, offers up his thoughts on the direction of things: "Yes everyone is getting bearish and my own research suggests a bearish corn acreage and grain stocks reports, for soybeans negative on acres and not sure on grain stocks. But, a lot of that is built in.  I have a lot of indicators for a change of trend in corn and wheat July 2-7. It is dangerous to get bearish on $4.40 corn with crude at $106. Also, seasonals point up for wheat starting in early July. The CCI and CRB and inflation numbers all tell me we will get into a demand-driven market later this year."

 

Meanwhile, the Renewable Fuels Association released lower ethanol numbers vs. a week ago, moments ago:

According to EIA data, ethanol production averaged 938,000 barrels per day (b/d)—or 38.40 million gallons daily. That is down 34,000 b/d from the week before. The four-week average for ethanol production stood at 948,000 b/d for an annualized rate of 14.53 billion gallons.

Stocks of ethanol stood at 18.2 million barrels. That is a 1.9% increase from last week.

Imports of ethanol were zero b/d, unchanged from last week," the RFA release stated.

 


Mike

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At the open:

 

The July corn futures contract is trading 2 cents lower at $4.41.

 

The Dec. corn futures are trading 1 3/4 cents lower at $4.39.

 

 

 

The July soybean futures contract is 1/4 of a cent lower at $14.13.

 

The Nov. soybean futures are trading 1/4 of a cent higher at $12.24.

 

 

 

Sep wheat futures are 1 cent lower at $5.79.

 

 

 

The Dec soymeal futures contract is trading $3.10 per short ton higher at $390.20. The Aug. soyoil futures are trading $0.35 lower at $40.72.

 

 

 


In the outside markets, the NYMEX Brent crude oil is $0.92 per barrel lower, the dollar is lower and the Dow Jones Industrials are 2 points higher.

 

Mike

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At 8am:

--USDA announces Wednesday that an 'unknown' purchased 217,400 metric tons of U.S. corn for 2014/15 delivery.

--USDA announces Wednesday that an 'unknown' purchased 116,000 mt of U.S. sorghum.

 

 

Mike

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At 7:55am:

Word is that another Brazilian soybean shipment is headed to the U.S. coastal waters. Also, today, the EIA will release weekly production numbers.

 

Mike

-------

At 7:22am:

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

Trackers:
Overnight grain, soybean markets=Trading mostly lower.

Brent Crude Oil=$0.65 per barrel lower.
Dollar= Lower.

Wall Street=Seen slightly lower, ahead of durable goods and economic growth reports. Plus, Monsanto is set to release third quarter earnings.

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

 


More in a minute,

 

Mike

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17 Replies
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Veteran Advisor

Re: Floor Talk June 25

Note: Monsanto, in May, started talks with Syngenta to take them over for $40 billion, Bloomberg News reported Tuesday. Syngenta called the talks off, according to people close to the talks, Bloomberg reported.

 

Anybody hear anything further about this? And, I'm hearing mergers and acquisitions could hurt the stock market. I'd be interested in what you think about these two ag giants merging.

 

Mike

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Honored Advisor

Re: Floor Talk June 25

How many ships hauling US grain are heading out to other countries?  The ones heading out are just as important as the ones heading in.  Let's put those numbers in the headlines.

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Honored Advisor

Re: Floor Talk June 25

Sucks

Only thing worse was when they started this thing with the purchase of Holden's
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Senior Advisor

Re: Floor Talk June 25

Here's the deal -- Where is Monsanto based -- And where is Syngenta based - ????   This has more to do with where there Tax money is based on , not reseach or there products .  Monsanto could pay that off pretty quick in the saving .

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Honored Advisor

Re: Floor Talk June 25

  All I can say is wow.......I am extremely dissappointed in this website.  

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Senior Advisor

Re: Floor Talk June 25

RT, what does this website have to do with the reporting of this story?  Why the disappointment?

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Honored Advisor

Re: Floor Talk June 25

Shaggy, sorry for the confusion. My comment has nothing to do with the Monsanto/Sygenta thing........I had a response to the original post that asked for some fairness that must have stepped on some toes that was deleted...............

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Veteran Advisor

Re: Floor Talk June 25

When I worked at Syngenta in Seed Care Research, we always considered them the evil empire.

 

 Syngenta's corporate roots go all the way back to 1758 and Geigy in Switzerland.  Ciba (a swiss company founded in 1884) and Geigy merged in 1971, which concentrated on crop protection, and then merged with Sandoz Labs (a Swiss company founded in 1876) in 1995, with the Sandoz side concentrating on seed development.  Even today, there is that split in the company.

 

I enjoyed my time at Syngenta.  I credit them for my recovery from a fairly severe head injury I sustained on my farm a few years ago, when I slipped and fell backwards on a 2# hammer laying on the concrete in back of me.  It was good for a week in the hospital.  I was unable to go back to work at the Air Traffic Academy in Oklahoma City, so I took a job with them in their Seed Care department for a few years.  

 

When I went in for the interview, I couldn't walk a straight line.  I told them I had a brain injury, but they still gave me the test on doing high end math within Excel.  I'm pretty good at Excel, and passed the test.  As a matter of fact, I was the only one of the applicants that did, and got the job.  I remember commenting at the time to them that, "I' have a head injury, and I'm the best that you guys could find?"  A few weeks later, my comment was, "You guys didn't need someone good with Excel, you needed a math major!"  Their response, "If we had advertised for someone for a math position, no one would have applied".

 

So I was it.  I credit the math I was forced to do within the context of my job with my recovery.  It has taken a long time for the effects of the head injury to heal.  4 days after the accident, when given a test in the hospital, I didn't know who the president was (Obama had just been elected), who the former president was (although I told the person giving the test that I didn't like him very much), but I broke down crying when she started giving me some simple math problems (what's 5-2, 6-3, etc) and asked me what 4-0 was.  I didn't know.  She was going to stop the test, and I asked her to continue it.  The brain is an amazing thing.  I had the ability to reason, but had lost where to find the memories stored in it.  I took the job at Syngenta a month and a half after that accident.  Everything in the month before the accident was gone.  Everything else was basically there, except that I had to be reintroduced to it for my brain to be able to make the connection.  And yes, there are still parts missing, especially as they relate to people I know, time, and dates.

 

Going outside the first month after the accident was tough.   If I got too much stimulation my brain would start to shut down, to the point I could only see out of this little hole in front of me.  Everything else was blanked out.  And by stimulation, it was a combination of color, movement, even too many voices would cause me to see out of that little hole.  It's another one of those moments of my life that was amazing to live through - but I don't care to do it again.  You think concussions are not a big deal - think again....

 

Anyway, Syngenta.  I felt they were a great company to work for, although they used their employees and expected a lot of them.  Your life was theirs.  I had the pleasure to work for and next to (and in the same building) where the seed care industry was invented.  Joe and Pete were the guys that brought modern seed care into existance, developing products and tecniques for holding those products on the seed, without destroying the seed coating.  They taught me a lot during my time with them, and I cannot thank them enough for hiring me.

 

Anyway - just some thoughts this morning since you guys were talking about Syngenta.  Merger between the two?  In my book, a bad deal all the way around.

 

Jen

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Senior Advisor

Re: Floor Talk June 25

I understand RT, none of my business so I'll stay out of it.

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