Floor Talk March 11

[marketeye]

At the close:

At the close, the May corn futures ended 3 cents higher at $3.91 per bushel. Dec. corn futures finished $4.14.
May soybean futures settled 8 1/4 cents higher at $9.92. The Nov. soybean futures finished 6 1/4 cents higher at $9.71.

The May soyoil futures closed $0.14 higher at $31.10. The May soymeal futures settled $2.30 per short ton higher at $333.30.

May wheat futures closed 5 3/4 cents higher at $4.99.

In the outside markets, the Brent crude oil market is $0.13 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 3 points higher.

Mike

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At mid-session:

At mid-session, the May corn futures are trading 4 cents higher at $3.92 per bushel. Dec. corn futures are trading at $4.15.
May soybean futures are trading 8 3/4 cents higher at $9.93. The Nov. soybean futures are 6 cents higher at $9.71.

The May soyoil futures are trading $0.10 higher at $31.06. The May soymeal futures are trading $3.10 per short ton higher at $334.10.

May wheat futures are trading 7 cents higher at $5.00.

In the outside markets, the Brent crude oil market is $0.64 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 30 points higher.

Mike

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At the open:

At the open, the May corn futures are trading 4 cents higher at $3.92 per bushel. Dec. corn futures are trading at $4.16.
May soybean futures are trading 7 cents higher at $9.92. The Nov. soybean futures are 6 cents higher at $9.71.

The May soyoil futures are trading $0.29 higher at $31.25. The May soymeal futures are trading $2.30 per short ton higher at $333.40.

May wheat futures are trading 5 cents higher at $4.98.

In the outside markets, the Brent crude oil market is $0.65 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 22 points higher.

Mike

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At 7:30am:

Early calls: Corn 2-4 cents higher, soybeans 4-6 cents higher, and wheat 5-7 cents higher.

Trackers:
Overnight grain, soybean markets = Trading higher.
Brent Crude Oil = $0.03 higher.
Dollar =Higher. 
Wall Street = Seen higher.

World Markets = Europe stocks were higher, Asia/Pacific stocks were mixed.

More in a minute,

Mike

[Hobbyfarmer]

This year’s survey was a new record for participation. There were 30 separate states represented. Thank you to all the producers across the U.S. who were able to participate!

Here's a summary of what you told us:

- Corn planting intentions of 88.508 million acres would be the smallest acreage in five years. Allendale’s production estimate would imply a production decline of 822 million under last year’s record.
- Soybean planting intentions are seen at 86.052 million acres, a new record. Allendale’s production estimate would be 111 million under last year, due to normal/trend-line yields.
- Wheat acreage is estimated at 56.678 million acres. Spring wheat acreage was seen 1.5 million larger than last year. It would be the largest since 2006. Allendale’s production estimate is 184 million over last year.

See the full results here: http://www.allendale-inc.com/acreagesurvey/ or call us for a breakdown: 800-262-7538