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Contributor

Floor Talk - November 24

At the close: 

 

The March corn futures are trading 5 cents lower at $3.80 1/4 per bushel.

January soybean futures are trading 5 1/4 cents lower at $10.33 1/2.
March wheat futures are 4 cents lower at $5.49 1/2.

 

In the outside markets, the crude oil is $0.69 per barrel lower to $75.81, the dollar is lower, and the Dow Jones Industrials are a point higher to 17,810.

 

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At noon:

 

The March corn futures are trading 3 3/4 cents lower at $3.81 1/2 per bushel.
January soybean futures are trading 8 cents lower at $10.31.
March wheat futures are 1/4 of a cent lower at $5.53 1/4.

 

In the outside markets, the crude oil is $0.11 per barrel lower to $76.42, the dollar is lower, and the Dow Jones Industrials are 9 points lower to 17,800.

 

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At the open:

The December corn futures are trading 2 3/4 cents lower at $3.70 per bushel.
January soybean futures are trading 9 1/4 cents lower at $10.29 3/4.

March wheat futures are trading 1/2 of a cent lower to $5.53.

In the outside markets, the crude oil is $0.41 per barrel lower to $76.10, the dollar is lower, and the Dow Jones Industrials are 40 points higher to 17,849.

 

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At 7:35 am:

Early calls: Corn is 1-3 cents lower, soybeans 7-10 cents lower and wheat unchanged.

 

Trackers:

Overnight grain, soybean markets = Trading mostly lower.

Crude Oil = $.14 lower per barrel to $76.34.

Dollar = Lower

Wall Street = Trading higher. Dow is up 35 point to 17,815.

World Markets = Europe stocks are mostly higher, Asia/Pacific stocks are higher.

 

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Contributor

Re: Floor Talk - November 24

Private exporters reported to the U.S. Department of Agriculture the following activity:

  • Export sales of 235,000 metric tons of soybeans for delivery to China during the 2014/2015 marketing year; and
  • Export sales of 174,000 metric tons of soybean cake and meal for delivery to Thailand during the 2015/2016 marketing year; and
  • Export sales of 116,000 metric tons of grain sorghum for delivery to unknown destinations during the 2014/2015 marketing year.
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Honored Advisor

Re: Floor Talk - November 24

South central Iowa

 

OSCEOLA
 More Info 
DeliveryCash PriceBasis 
Nov 2014 3.03 -0.67 Chart
Jan 2015 3.31 -0.52 Chart
Mar 2015 3.31 -0.52 Chart
July 2015 3.42 -0.57 Chart
Oct 2015 3.45 -0.69

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Veteran Advisor

Re: Floor Talk - November 24

Better pay to truck it:

 

All Local Bids futures are 10 minute delayed. Refresh browser to update futures
 

DLVD Eddyville, NACM YC US#2YC TRUCK

Basis current as of 2014-11-24 12:01:01 PM CT
 
Quote TypeTime of ShipmentBasis AmountFutures SymbolFutures PriceFlat PriceFactorFactor Value
Bid 11/24/2014 - 11/30/2014 -0.2000 CZ4 3.6900 3.4900 n.a. n.a.
Bid 12/01/2014 - 12/15/2014 -0.2500 CZ4 3.6900 3.4400 n.a. n.a.
Bid 12/16/2014 - 12/31/2014 -0.1000 CZ4 3.6900 3.5900 n.a. n.a.
Bid 01/01/2015 - 01/31/2015 -0.2200 CH5 3.8175 3.5975 n.a. n.a.
Bid 02/01/2015 - 02/28/2015 -0.1600 CH5 3.8175 3.6575 n.a. n.a.
Bid 03/01/2015 - 03/31/2015 -0.1200 CH5 3.8175 3.6975 n.a. n.a.
Bid 04/01/2015 - 04/30/2015 -0.1200 CK5 3.9050 3.7850 n.a. n.a.
Bid 05/01/2015 - 05/31/2015 -0.0800 CK5 3.9050 3.8250 n.a. n.a.
Bid 06/01/2015 - 06/30/2015 -0.1500 CN5 3.9775 3.8275 n.a. n.a.
Bid 07/01/2015 - 07/31/2015 -0.1200 CN5 3.9775 3.8575 n.a. n.a.
Bid 08/01/2015 - 08/31/2015 -0.1500 CU5 4.0400 3.8900 n.a. n.a.
Bid 09/01/2015 - 09/15/2015 -0.1300 CU5 4.0400 3.9100 n.a. n.a.
Bid 09/16/2015 - 09/30/2015 -0.1000 CU5 4.0400 3.9400 n.a. n.a.
Bid 10/01/2015 - 10/15/2015 -0.2000 CZ5 4.1225 3.9225 n.a. n.a.
Bid 10/16/2015 - 10/31/2015 -0.3000 CZ5 4.1225 3.8225 n.a. n.a.
Bid 11/01/2015 - 11/15/2015 -0.2500 CZ5 4.1225 3.8725 n.a. n.a.
Bid 11/16/2015 - 11/30/2015 -0.1500 CZ5 4.1225 3.9725 n.a. n.a.
Bid 12/01/2015 - 12/31/2015 -0.1000 CZ5 4.1225 4.0225 n.a. n.a.
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Honored Advisor

Re: Floor Talk - November 24

Osceola isn't local t o me.  

 

Flint Hills at Menlo or Poef at Corning is less than half as far as Ray J' s fine establishment.

 

Menlo' s bids...

11/24/2014

Corn
MonthBidBasisFuturesFutures Month
LH Nov-14 $3.53 ($0.15) $3.68 Dec (Z)
FH Dec-14 $3.53 ($0.15) $3.68 Dec (Z)
LH Dec-14 $3.58 ($0.10) $3.68 Dec (Z)
Jan-15 $3.50 ($0.30) $3.80 Mar (H)
Feb-15 $3.50 ($0.30) $3.80 Mar (H)
Mar-15 $3.45 ($0.35) $3.80 Mar (H)
Apr-15 $3.54 ($0.35) $3.89 May (K)
May-15 $3.59 ($0.30) $3.89 May (K)
Jun-15 $3.51 ($0.45) $3.96 Jul (N)
Jul-15 $3.51 ($0.45) $3.96 Jul (N)
Aug-15 $3.63 ($0.40) $4.03 Sept (U)
Sep-15 $3.63 ($0.40) $4.03 Sept (U)
Oct-15 $3.66 ($0.45) $4.11 Dec (Z)
Nov-15 $3.66 ($0.45) $4.11 Dec (Z)
Dec-15 $3.71 ($0.40) $4.11 Dec (Z
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Honored Advisor

Re: Floor Talk - November 24

The Osceola and Mt Ayr locations have these sucky bids AND have been putting up 400,000 bins in multiples as "condo" storage.

 

What a deal... the victims of this scheme not only get to buy these bins and then pay management fees (pretty much standard storage and drying fees) and after a set time period the ownership reverts back to the coop with no money changing hands to the farmer. Then the bonus part... you are locked into some of the worst prices in the state of Iowa.  People stood in line to do this.

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Honored Advisor

Re: Floor Talk - November 24

Just as a side note, this was perpetrated at a time of record profits and corn will never be under six bucks again.

 

Real easy to get either lazy or to lay off risk when there is good times. If I buy something I want possession. That goes with grain storage as well as tractors combines etc. 

 

I can not understand willingly paying for something you will never get and in the process limit your marketing choices. 

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