Floor Talk - November 19
At the close:
The December corn futures are trading 8 3/4 cents lower at $3.63 1/4 per bushel.
January soybean futures are trading 18 1/2 cents lower at $10.04 3/4.
December wheat futures are trading 10 1/2 cents lower at $5.38 1/2.
In the outside markets, the crude oil is $0.10 per barrel lower to $74.52, the dollar is lower, and the Dow Jones Industrials are 37 points lower to 17,650.86.
Mike is out on Thanksgiving vacation, so I'll be your markets reporter through next week.
At 11:30 AM:
The December corn futures are trading 8 1/4 cents lower at $3.63 3/4 per bushel.
January soybean futures are trading 16 cents lower at $10.07 1/4.
December wheat futures are trading 10 cents lower at $5.39.
In the outside markets, the crude oil is $0.45 per barrel higher to $75.06, the dollar is lower, and the Dow Jones Industrials are 13 points lower to 17,674.62.
At the open:
The December corn futures are trading 3 cents lower at $3.69 per bushel.
January soybean futures are trading 11 cents lower at $10.12 1/4.
December wheat futures are trading 5 1/2 cents lower at $5.43 1/2.
In the outside markets, the crude oil is $0.02 per barrel higher to $74.67, the dollar is lower, and the Dow Jones Industrials are 38 points lower.
“Even with the announcement of a sale of 3.7 MMT of beans to unknown destinations yesterday the bean market could not sustain strength,” explains Daniel Hueber, market analyst and writer of The Hueber Report. “I suspect that unless we begin to see weather issues in South America, we have already witnessed the pinnacle in bean demand for this year.”
But the weather may not be playing in our favor.
“The rapid US disappearance rate (exports plus crush) is still a short term market factor, with the longer term focus on South American production prospects. Weather forecasts remain favorable for planting in southern Brazil and Argentina,” says Alan Brugler, markets analyst.
At 7:35 am:
Early calls: Corn is 2-4 cents lower, soybeans 8-10 cents lower and wheat 3-5 cents lower.
Overnight grain, soybean markets = Trading mostly lower.
Crude Oil = $0.21 higher per barrel to $74.82.
Dollar = Lower
Wall Street = Mostly lower. Dow is down 13 point to 17,639.
World Markets = Europe stocks were mostly higher, Asia/Pacific stocks were lower.
Re: Floor Talk - November 19
The Turkey is where? ......Oops, I see that could have been misconstrued, but I know Mike and am sure he'll consider the source for that witty comment.
Are we in a time when the markets start slowing down for the holidays?
I shipped three loads of beans today for prices I set way last winter. Oh, how I wish I'd sold more at this money. Sadly, the rest won't do nearly as well. I remember at the time thinking this was probably too cheap. Now, it seems like a premium. How perceptsion change.