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Floor Talk, November 12, 2018

[ Edited ]

At the close, the December corn futures finished 1 1/2¢ higher at $3.71. March futures ended 1¢ higher at $3.82.
 
January soybean futures closed 3 1/4¢ lower at $8.83 1/4. March soybean futures closed 3 1/4¢ lower at $8.96.

December wheat futures ended 17 3/4¢ higher at $5.19 3/4.

December soymeal futures settled even at $305.60.

December soy oil futures closed 0.09 higher at 27.71¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.48 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 533 points lower.

 

Mike

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At midsession:

 

At midsession, the December corn futures are 1 1/2¢ higher at $3.71. March futures are 1¢ higher at $3.82.
 
January soybean futures are 4 1/4¢ lower at $8.82. March soybean futures are 4¢ lower at $8.96.



 

December wheat futures are 14 1/4¢ higher at $5.16.



 

December soymeal futures are 0.30¢ per short ton higher at $305.90.

December soy oil futures are 0.10 higher at 27.72¢ per pound.

 



In the outside markets, the NYMEX crude oil market is $0.73 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 408 points lower.


Brian A. Rydlund, CHS Hedging market analyst, says that the markets, overall, seem subdued.
“Wheat is up over worries about weather. It has been too wet, now too cold to seed HRW or SRW . This may be costing us acres and we had gotten cheap, at or near last month’s lows,” Rydlund says.

Corn and soybeans have flipped roles from Friday. Soybeans hope for some resolution to the China, U.S. trade tiff standoff. There is some chatter late Friday of a “deal framework” in D.C., but no follow up chatter today. The optimists hope something good can come in Argentina end of month, when Presidents Trump and Xi meet.”

Rydlund adds, “Grain sales remain slow and less than desired, as buyers push basis bids in an effort to attract grain. So far, there has been little luck with those efforts. Soybeans remain hard to buy.”

 

Mike

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At 9:00am:

 

In early trading, the December corn futures are 3/4¢ lower at $3.69. March futures are 1¢ lower at $3.80.

 

January soybean futures are 6 1/2¢ lower at $8.80. March soybean futures are 6 1/4¢ lower at $8.93.



 

December wheat futures are 5 3/4¢ higher at $5.07.



December soymeal futures are 0.90¢ per short ton lower at $304.70.

 December soy oil futures are 0.01 higher at 27.63¢ per pound.


In the outside markets, the NYMEX crude oil market is $0.43 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 196 points lower.

 

Mike