After the close:
The USDA released a sneek-peek of its Baseline numbers. Here are the acreage estimates:
USDA forecast for U.S. planted acres in 2019/20: #Corn at 92 million acres (89.1 mln this year) #Soybeans at 82.5 million acres (89.1 mln this year) #Wheat at 51 million acres (47.8 mln this year)
What say you? Will we really lose 6.0 million soybean acres?
Mike
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At the close:
At the close, the December corn futures finished 4 1/2¢ higher at $3.71 1/4. March futures finished 4 1/4¢ higher at $3.83.
January soybean futures closed 5 3/4¢ higher at $8.87 3/4. March soybean futures finished 5 3/4¢ higher at $9.00.
December wheat futures ended 3/4¢ higher at $5.08 3/4.
December soymeal futures closed 2.40¢ per short ton lower at $311.00.
December soy oil futures ended 0.12 lower at 28.20¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.63 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 180 points lower.
Mike
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At 9am:
At 9:00am, the December corn futures are 1/2¢ lower at $3.66. March futures are 1/4¢ lower at $3.78.
January soybean futures are 3¢ higher at $8.85. March soybean futures are 3 3/4¢ higher at $8.97.
December wheat futures are 1 1/2¢ lower at $5.06.
December soymeal futures are 1.90¢ per short ton lower at $311.50.
December soy oil futures are 0.01 at 28.31¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.26 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 97 points higher.
What say you? Does the Trump tweet have a long tail?
Mike
