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Veteran Advisor

Floor Talk March 6

At the close:

At the close, the May corn futures settled 4 1/2 cents lower at $3.86 per bushel. The new crop Dec. corn futures finished 3 1/4 cents lower at $4.10 3/4.
May soybean futures closed 1/2 of a cent lower at $9.85. The new-crop Nov. soybean futures ended 3/4 of a  cent lower at $9.65.

The May soyoil futures are trading $0.29 lower at $31.28. The May soymeal futures are trading $2.50 per short ton higher at $327.70.

May wheat futures finished 2 cents higher at $4.82 1/2.

In the outside markets, the NYMEX crude oil market is $1.45 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 282 points lower.

 

Mike

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At mid-session:

At mid-session, the May corn futures are trading 7 cents lower at $3.83 per bushel. The new crop Dec. corn futures are trading 5 3/4 cents lower at $4.08.
May soybean futures are trading 7 cents lower at $9.78. The new-crop Nov. soybean futures are 7 cents lower at $9.58 3/4.

The May soyoil futures are trading $0.37 lower at $31.20. The May soymeal futures are trading $0.10 per short ton lower at $325.10.

May wheat futures are trading 1/4 of a cent lower at $4.80.

In the outside markets, the Brent crude oil market is $0.80 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 180 points lower.

 

Mike

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At the open:

At the open, the May corn futures are trading 4 1/4 cents lower at $3.86 per bushel. the new crop Dec. corn futures are trading 4 cents lower at $4.10.
May soybean futures are trading 4 cents lower at $9.81. The new-crop Nov. soybean futures are 3 cents lower at $9.62.

The May soyoil futures are trading $0.21 lower at $31.36. The May soymeal futures are trading $0.30 per short ton lower at $324.90.

May wheat futures are trading unchanged to $4.80.

In the outside markets, the Brent crude oil market is $0.44 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 16 points lower.

 

 

Mike

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At 7:00am:

 

Early calls: Corn 1-2 cents lower, soybeans 1-2 cents lower, and wheat 1-2 cents higher.

 

Trackers:
Overnight grain, soybean markets = Trading mostly lower.
Brent Crude Oil = $0.66 higher.
Dollar =Higher. 
Wall Street = Seen flat to lower, as February's employment report is watched.

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

 

 

 

More in a minute,

 

Mike

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4 Replies
Honored Advisor

steady as she go's

2015 Planting Intentions
With 2015 Insurance Prices set at $4.15 for corn and $9.73 for soybeans, will you...............
Percentages
71.9101123596 percent 11.2359550562 percent 16.8539325843 percent
72% 11% 16%
(1) (2) (3)
Vote Legend
1) Leave planting intentions the same 64
2) Plant more corn 10
3) Plant more beans 15
Total Votes: 89
Results current as of:
06-Mar-15 08:25 AM
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Veteran Advisor

Re: Floor Talk March 6

Avian Influenza Outbreak confirmed in Minnesota. Beef and pork markets to get a small bump from the news. Here's the press release from the Minnesota Ag Department:

 

The United States Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) has confirmed the presence of highly pathogenic H5N2 avian influenza in a commercial turkey flock in Pope County, Minnesota. This is the first finding in the Mississippi flyway.
It is the same strain of avian influenza that has been confirmed in backyard and wild birds in Washington, Oregon and Idaho as part of the ongoing incident in the Pacific flyway.
Samples from the turkey breeder replacement flock, which experienced increased mortality, were tested at the University of Minnesota Veterinary Diagnostic Laboratory and the APHIS National Veterinary Services Laboratories in Ames, Iowa confirmed the finding. APHIS is partnering closely with the Minnesota Board of Animal Health on a joint incident response. State officials quarantined the affected premises and the remaining birds on the property will be depopulated to prevent the spread of the disease.
Birds from the involved flock will not enter the food system.
CDC considers the risk to people from these HPAI H5 infections in wild birds, backyard flocks, and commercial poultry, to be low. No human infections with these viruses have been detected at this time. The Minnesota Department of Health is working directly with poultry workers at the affected facility to ensure they are taking the proper precautions. As a reminder, the proper handling and cooking of poultry and eggs to an internal temperature of 165-degrees
̊F kills bacteria and viruses. Federal and State partners are working jointly on additional surveillance and testing in the nearby area, following existing avian influenza response plans. The United States has the strongest AI surveillance program in the world, and USDA is working with its partners to actively look for the disease in commercial poultry operations, live bird markets, and in migratory wild bird populations. USDA will be informing OIE and international trading partners of this finding. USDA also continues to communicate with trading partners to encourage adherence to OIE standards and minimize trade impacts. OIE trade guidelines call on countries to base trade restrictions on sound science and, whenever possible,limit restrictions to those animals and animal products within a defined region that pose a risk of spreading disease of concern.

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Honored Advisor

Re: Floor Talk March 6

Talked to a salesman in the packaging industry just as he returned from a sales call to a poultry possessing plant in northern Iowa yesterday. It had been put on lockdown, he did not get past the gate at the road.

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Veteran Advisor

Re: Floor Talk March 6

So much for grain demand. No more
Cheaper chicken, so budgets will get
Tighter.

Something in beef or pork could put
Us all in a sprial downfall.

Things are getting spooky
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