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Veteran Advisor

Floor Talk, March 30, 2020

At the close:

At the close, the May corn futures finished 4 3/4¢ lower at $3.41 1/4. July corn futures settled 4 1/4¢ lower at $3.47.

May soybean futures closed 3/4¢ higher at $8.82 1/4. July soybean futures settled 1 1/4¢ higher at $8.86 1/4.

May wheat futures closed 1 3/4¢ lower at $5.69 3/4.


May soymeal futures finished $2.40 per short ton higher at $325.50.

May soy oil futures closed $0.02 cents higher at 26.87¢ per pound.



In the outside markets, the NYMEX crude oil market is $1.99 per barrel lower at a 18-year low of $19.52, the U.S. dollar is higher, and the Dow Jones Industrials are 457 points higher.

Mike

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At midsession:

At midsession, the May corn futures are 5¢ lower at $3.41. July corn futures are 4 1/4¢ lower at $3.47.

May soybean futures are 1/2¢ higher at $8.82. July soybean futures are 1/2¢ higher at $8.85 1/4.

May wheat futures are 5 1/4¢ lower at $5.65 3/4.

May soymeal futures are $1.20 per short ton higher at $324.30.

May soy oil futures are $0.17 cents higher at 27.02¢ per pound.



In the outside markets, the NYMEX crude oil market is $1.22 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 394 points higher.

Mike

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At 9am:

In early trading, the May corn futures are 1 1/2¢ lower at $3.44 3/4. July corn futures are 1 1/2¢ lower at $3.50 3/4.

May soybean futures are 4 1/4¢ higher at $8.85 1/4. July soybean futures are 4 1/2¢ higher at $8.89 1/4.

May wheat futures are 4 1/4¢ higher at $5.75 3/4.

May soymeal futures are $3.50 per short ton higher at $326.60.

May soy oil futures are $0.23 cents higher at 27.08¢ per pound.



In the outside markets, the NYMEX crude oil market is $1.25 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 93 points higher.


On Monday, private exporters reported to the USDA export sales of 285,000 metric tons of soybeans for delivery to Mexico during the 2020/2021 marketing year.

The marketing year for soybeans began Sept. 1.


Al Kluis, Kluis Advisors, says that investors will be watching tomorrow's USDA's March Planting Intentions Report.

“The USDA report may show larger corn and soybean inventories than the trade is expecting. This report has been a bearish surprise in 4 of the last 5 years. Gasoline futures are down 5 cents and that is putting pressure on the corn market." Kluis told customers in a daily note.

Kluis added, "Will workers at the main grain exporting terminals of Argentina and Brazil refuse to go to work? A lot of export business will need to shift back to the US for corn, soybeans, and soybean meal. And what will happen with crude oil futures? The chart showed an inside week last week. Taking out last week's high is a positive sign for energy and commodity prices, but taking out the low is bearish for both."

 

What say you, shout it out,

 

Mike

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6 Replies
Honored Advisor

Re: Floor Talk, March 30, 2020

"This report has been a bearish surprise in 4 of the last 5 years".

Never pitch to a batter that is hitting .800...................Just give him the intentional walk and put him on base.  

Ok, I really can't tie this to grain marketing, but it's just an observation.   Gosh, I miss baseball.     

Veteran Contributor

Re: Floor Talk, March 30, 2020

20200329_185817.jpg

 

Veteran Advisor

Even in iowa

There will be noticeable Oats acres planted. 

For the Oats Milk health market. 

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Honored Advisor

Re: Even in iowa

Mark:

Me thinks you are smoking your used three day old  socks.

Wheat has gotten to the point of being called "poverty grass" well oats are the cheat grass in the wheat.

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Advisor

Re: Even in iowa

Markets up and rallying again as grains trade lower.  Tell us again how the grain traders follow the markets.  Just like the weatherman wrong 90% of the time still getting paid...  oil and fuel going lower is putting pressure on the corn? Ha, funny when it was 150$ a barrel corn was the same price as today.

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Veteran Advisor

Re: Even in iowa

 

You might have to put Your silver platter aside. 

Granted corn use for E to China should be decent.. 

Corn in USA is feeding which will certainly pay up for corn... Much higher than E 

E in the USA is all over but the crying now. 

Oats,  IF your in a decent oats grow area,  grows 100 to 120 of no rust 36 to 39 Lb. Oats for very little expense. 

Grand it only beings 3 50 to $4  straw makes another 200 to $400 per acre. 

Oats though is arguably more work/excercise than corn LOL. 

Maybe Your just 2 fat and govt dependant. 

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