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marketeye
Veteran Advisor

Floor Talk, November 26, 2019

At the close:

At the close, the Dec. corn futures finished 3¢ lower at $3.67 1/2. March corn futures ended 2 1/2¢ lower at $3.78 1/4.

Jan. soybean futures closed 8 1/4¢ lower at $8.84 1/4. March soybean futures finished 8 3/4¢ lower at $8.98 1/4.

March wheat futures settled 2¢ lower at $5.31.



January soymeal futures closed $3.50 per short ton lower at $297.10.

 January soy oil futures settled 0.19 cents lower at 30.40¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.40 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 35 points higher.

 

Mike

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At 9am:

In early trading, the Dec. corn futures are 1¢ lower at $3.69 1/2. March corn futures are 1¢ lower at $3.79.

Jan. soybean futures are 3 1/4¢ lower at $8.89. March soybean futures are 3 3/4¢ lower at $9.03 1/4.

March wheat futures are 3 1/4¢ lower at $5.29 3/4.



January soymeal futures are $0.90 per short ton lower at $299.70.

 January soy oil futures are 0.21 cents lower at 30.38¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.23 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 31 points higher.

Al Kluis, Kluis Advisors, says that investors continue to eye the crops left unharvested.

“The wheat market was very strong on Monday pulling corn higher, while soybeans again closed lower,” Kluis told customers in daily note.

Kluis added, “The USDA Crop progress report yesterday showed over 10 million acres of corn still out in the field in North & South Dakota, Minnesota, Wisconsin, and Michigan. With the major winter storm on its way for Thanksgiving, a lot of corn will not make it to the bin until 2020.”

 

Mike

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3 Replies
illinifarmer
Advisor

Re: Floor Talk, November 26, 2019

Sad , fellas making a quick cash grab for the short holiday trade week.  Someone correct this take take market in this holiday season of giving.  Crops still in the fields markets go down, export sales markets go down, the never ending stock market rally for two years on hopes of a trade deal, grain markets go down.  At this point what would need to happen to let’s say +20c on the day.  Apocalypse? Alien invasion? Plague?

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rickgthf
Senior Advisor

Re: Add 20 cents? That's easy......

Add 20 cents, that's easy, if the EPA just followed the law and blended the full 15 billion gallons, ending stocks next year would be 1200 million bushel.

   That would add 20 cents to the market in a hurry.

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BA Deere
Honored Advisor

Re: Floor Talk, November 26, 2019

Heard Al on Dubya H O radio 1040am.  He says Chinese hog raisers not effected by ASF are making $350/hog profit!  And he says corn is down a little, but good support level and around Thanksgiving we switch to Dec futures. so it won`t  stay down.  You just mighta made me a little money with that advice...Thanks.   Smiley Happy

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