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Veteran Advisor
Posts: 4,140
Registered: ‎05-03-2010
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Floor Talk November 19

[ Edited ]

At the close:

At the close, the Dec. corn futures settled 2 1/2 cents higher at $3.64 1/4.  January soybean futures closed 2 1/4 cents higher at $8.60. 
March wheat futures finished 7 1/4 cents higher at $4.92 1/4. 
Dec. soymeal futures closed$1.00 per short ton higher at $286.60. Dec. soyoil futures closed $0.11 higher at $27.55.  
In the outside markets, the Crude oil market is $0.02 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 9 points higher.

 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are trading 1/4 of a cent lower at $3.61.  January soybean futures are trading 3 1/4 cents higher at $8.61. 
Dec. wheat futures are trading 3 1/2 cents higher at $4.86, March wheat futures are 2 3/4 cents higher at $4.87. 
Dec. soymeal futures are $1.50 per short ton higher at $287.10. Dec. soyoil futures are trading $0.06 higher at $27.50.  
In the outside markets, the Crude oil market is $0.15 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 13 points lower.

 

Mike

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At the open:

At the open, the Dec. corn futures are trading 2 cents higher at $3.63.  January soybean futures are trading 1 cent lower at $8.56. 
Dec. wheat futures are trading 3 cents higher at $4.86. 
Jan. soymeal futures are $0.10 per short ton higher at $285.80. Dec. soyoil futures are trading $0.03 higher at $27.47.  
In the outside markets, the Crude oil market is $0.15 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 53 points lower.

 

Mike

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At 7:55am:

 

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At 7:40am:

USDA Weekly Export Sales shows real strong soybean sales:

 

Corn= 779,800 mt vs. the trade's expectations of 450,000-750,000 metric tons.

 

Soybeans= 1.79 million metric tons vs. the trade's expectations of 600,000-1,125,000 mt.

 

Wheat= 721,900 mt vs. the trade's expectations of 200,000-350,000 mt.

 

Soybean meal= 247,300 mt vs. the trade's expectations of between 175,000-300,000 mt.

 

What do you think about the numbers?

 

 

Mike

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Early calls: Corn 1-2 cents higher, soybeans 4-6 cents lower and wheat 1-2 cents higher.

 

Trackers:
Overnight grain, soybean markets = Trading mostly higher.
Brent Crude Oil = $0.59 lower.
Dollar =Lower.  
Wall Street = Seen higher, amid data and Fed speakers.

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

 

 

 

More in a minute,

 

Mike

Highlighted
Senior Contributor
Posts: 293
Registered: ‎05-11-2010

Re: Floor Talk November 19

No matter how wrong the trade is, nothing happens. It didn't effect any of their investors so even when they're wrong they're right? 

Frequent Contributor
Posts: 43
Registered: ‎06-15-2010
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Re: Floor Talk November 19

Nice to see wheat come in above expectations, along with the beans.  In the last month and a half, local basis has improved 19 cents for corn, 24 cents for soybeans, and 55 cents for spring wheat.  Pretty quick considering the good yields in MN this year.  Demand is definitely there, but I know no one is excited to sell.

Honored Advisor
Posts: 8,920
Registered: ‎07-18-2011
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Re: Floor Talk November 19

Mike,

The numbers should be expected at these prices...  Nice to see... We need orders to fill