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Veteran Advisor

Floor Talk, November 14, 2019

At midsession:

At midsession, the Dec. corn futures are 1 1/2¢ higher at $3.76 3/4. March corn futures are 1 3/4¢ higher at $3.85.

Jan. soybean futures are 2 3/4¢ lower at $9.12 1/2. March soybean futures are 2 3/4¢ lower at $9.25 1/2.

Dec. wheat futures are 1 3/4¢ lower at $5.07 3/4.



December soymeal futures are $1.70 per short ton lower at $302.40.

 December soy oil futures are 0.22 cents higher at 30.75¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.16 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 66 points lower.

Mike

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At 8:45am:

In early trading, the Dec. corn futures are 1 1/2¢ higher at $3.76 3/4. March corn futures are 1 3/4¢ higher at $3.85.

Jan. soybean futures are 1 3/4¢ lower at $9.13 1/2. March soybean futures are 1 3/4¢ lower at $9.26 1/2.

Dec. wheat futures are 1 1/4¢ lower at $5.07 3/4.



December soymeal futures are $0.50 per short ton lower at $303.60.

December soy oil futures are 0.06 cents lower at 30.47¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.46 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 32 points lower.

Al Kluis, Kluis Advisors, says that the markets are having a tough time finding traction.

“Trade talks between the US and China seem to be hitting another snag, and the impeachment hearings have the market wanting to drift lower,” Kluis told customers in a daily note.

Kluis added, “Keep a close eye on basis levels in your area. We are seeing a lot of activity, from firmer basis levels in Illinois to wider basis in Nebraska. Once the basis starts to widen out, it could get ugly quick.


On Thursday, Private exporters reported to the USDA export sales of 129,000 metric tons of soybeans for delivery to China during the 2019/2020 marketing year.

The marketing year for soybeans began Sept. 1.

 

Mike

 

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6 Replies
Honored Advisor

Re: Floor Talk, November 14, 2019

Trade talks hit another snag.....

Another 129k metric tons of beans sold to china.......

The markets can't get traction....

If the basis widens out it could get ugly.....

We are seeing a lot of activity.....

The market is concerned about the impeachment hearings....

 

Only one comment here has any affect on futures markets...... the rest is pure nonsense.

Advisor

Re: Floor Talk, November 14, 2019

Agreed , it’s like searching for support of an excuse everyday to trade lower pathetic.

Advisor

Low test weights

 

Sounds like the back half of corn harvested is pretty low test weight. 

And talk is every less lb. Per bu. on a 165 bpa yield equals 1.7% less corn. 

Sounds like 300 million to 600 million less total corn carryover available due to low test wt this year. 

We'll see... Well maybe eventually. 

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Frequent Contributor

Re: Floor Talk, November 14, 2019

So millions of acres not planted and our prices are down,millions of acres left to harvest our prices are down,terrible yields our prices are down,china is buying but our prices are down,usda lies and our prices are down ***** am i missing?

Advisor

Re: Floor Talk, November 14, 2019

Weather!!... still down

Esteemed Advisor

Re: Floor Talk, November 14, 2019

Klueless is on it again. Basis firmed a dime for beans and 3 cents for corn today locally. A sure sign of an eminent collapse....NOT.

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