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Tony_Dreibus
Veteran Contributor

Floor Talk March 15

Good morning. 

 

Corn and beans were lower overnight as the value of the dollar heads for its third straight gain, cutting purchasing power for overseas buyers of U.S. products.

  

At 6:30 am:

 

Brent Crude Oil = 2.3% lower.

West Texas Intermediate Crude Oil = 2.3% lower.

Dollar = up 0.2%.

Wall Street = U.S. stock futures slightly lower in pre-market trading. 
World Markets = Global stocks lower on declining crude oil prices.

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2 Replies
timetippingpt
Honored Advisor

Re: Floor Talk March 15

Tony:

   Some one might as well point out the obvious ridiculous statement you made. "Third day higher in the dollar". Good Lord man the dollar (after three straight gains) is 2% lower than it was 7 days ago. Grains are not down because the dollar is up, it isn't up....geezzzz....

   Why not just state the obvious, a few computers dumper a few thousand contracts on the market in the illiquid over-night session. That is all that happened afterall.

   Have a good day

timetippingpt
Honored Advisor

Re: Floor Talk March 15

I also think that El CHEApooh has a very good point. The wheat, even in Indiana, is WAY TO FAR ALONG for March 15th.

 

That means only one of two things:

1. We will have the largest wheat yield in history. OR

2. We will have one of the poorest wheat yields in history.

 

Everything in the middle is pretty much impossible at this point.

 

He mentioned flooding in the south, I would add the super saturated soil conditions everywhere that wheat is grown. Wheat does not like saturated soils, it is a drought land crop, N will go on late due tot the saturated conditions. There are just a lot of things that are abnormal for wheat right now, very few of which are conducive of high yields, but that is not a known. We do know that TIME IS OUT in wheat, maybe a few more weeks, but the BEAR game is out of TIME... jmo btw.

 

When you couple that with its bizarrely low price...well...there certainly is a chance we can force the funds to cover their record short position and do so at a loss. That would be nice 🙂

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