cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Veteran Advisor

Floor Talk, March 9, 2020

At the close:

At the close, the May corn futures finished 3 1/4¢ lower at $3.72 3/4. July corn futures closed 4 1/2¢ lower at $3.75.

May soybean futures settled 21 3/4¢ lower at $8.70. July soybean futures ended 21¢ lower at $8.79.

May wheat futures ended 2 3/4¢ higher at $5.18 1/4.

May soymeal futures closed $4.70 per short ton lower at $300.40. 

May soy oil futures settled $1.21 cents lower at 27.54¢ per pound.



In the outside markets, the NYMEX crude oil market is $9.70 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 2,066 points lower.

 

Mike

---------

At midsession:

At midsession, the May corn futures are 3 1/4¢ lower at $3.72 3/4. July corn futures are 4 1/2¢ lower at $3.75.

May soybean futures are 15 3/4¢ lower at $8.75 3/4. July soybean futures are 16 3/4¢ lower at $8.83 1/4.

May wheat futures are 2 3/4¢ higher at $5.18 1/4.

May soymeal futures are $4.70 per short ton lower at $300.40. 

May soy oil futures are $0.79 cents lower at 27.96¢ per pound.



In the outside markets, the NYMEX crude oil market is $7.61 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 1,313 points lower.

Mike

-------

At 9:05am:

In early trading, the May corn futures are 8¢ lower at $3.68. July corn futures are 8 1/2¢ lower at $3.71.

May soybean futures are 21 1/2¢ lower at $8.69 3/4. July soybean futures are 215¢ lower at $9.00.

May wheat futures are 3¢ lower at $5.15 1/4.

May soymeal futures are $1.20 per short ton higher at $305.10.

 May soy oil futures are $0.64 cents lower at 28.75¢ per pound.



In the outside markets, the NYMEX crude oil market is $8.94 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 1,888 points lower.

The fall is so hard and fast that the stock market's circuit breaker system was triggered Monday.

On Monday, private exporters reported to the USDA export sales of 123,500 metric tons of soybeans for delivery to unknown destinations during the 2019/2020 marketing year.

The marketing year for soybeans began Sept. 1.

Scott Shellady, Head of US Producers Marex Solutions, says that investors are fearful, thus, the striking moves.

"That circuit breaker operates as a breather for the market. It just lets people get there feet under them. The market has bounced since then. The levels that triggers the circuit breaker are 7%, then 13% and finally 20%.

Shellady added, "The virus has people trading from a position of fear. It is getting close to being overdone. Everything is getting sold...good companies and bad companies together."

Al Kluis, Kluis Advisors, says that as the global markets are pushing down the ag markets.

“Global stock and energy prices are sharply lower, which is again putting pressure on the grain markets. Grains are all lower, but well off the lows made right at the open," Kluis stated in a daily note to customers.

Kluis added, "The grain markets are holding up quite well considering the hard down-move in the global stock and energy markets. I expect a major low this week in the grain and energy markets."

 

Mike

0 Kudos
8 Replies
Highlighted
Veteran Contributor

Re: Floor Talk, March 9, 2020

Farmer's won't make it at these prices!!!!!!!!!!

0 Kudos
Highlighted
Senior Advisor

Re: Floor Talk, March 9, 2020

Unknown   Destination ,   interestingly  clever  , &   just  the  customer  we  are  in  search  of  -  maybe ?  

0 Kudos
Highlighted
Honored Advisor

Re: Floor Talk, March 9, 2020

Farmers have a better chance than the growers...

I have seen worse cash bids since harvest than this morning's prices, but it's getting there.

0 Kudos
Highlighted
Advisor

Re: Floor Talk, March 9, 2020

USA Today posted an article this morning about farmers taking to Suicide at an all time high.  Curious why? Oh wait... 

0 Kudos
Highlighted
Honored Advisor

Re: Floor Talk, March 9, 2020

Our media is a TOOL...   a sick, disturbed Tool.

-------------------------------------------------

I think it might be a great time to halt exports of food and fiber.... to protect the health of our citizens.  

Lock down all ports.... for the safety of our citizens.  Stop docking cargo ships in and out.

What a great move that would be...... we have all we can eat.... all the fuel we need.  Why do we need to import more posibilities of contamination?

What on earth could it hurt at this point???

Highlighted
Senior Advisor

Re:Halt exports of food & fiber? Don't worry.....

Halt exports of food & fiber?  Don't worry, trump already saw to that.

0 Kudos
Highlighted
Honored Advisor

Re: Re:Halt exports of food & fiber? Don't worry.....

Unless the weekly reports are a fabrication totally at usda or New York Slimes....  that is not true.

Thanks I got up wondering if I would ever be sure of anything again...... but  "Trump did not stop exports of everything"  is true so far................ but maybe I missed the announcement this morning.  If your saying you herd it I will take your word for it....   Great move.

 

 

0 Kudos
Highlighted
Senior Advisor

Re: Re:Halt exports of food & fiber? Don't worry.....

The  bug  is  doing  what  , the  politics  can't  -  -  -