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Veteran Contributor

Floor Talk November 3

At the close:

At the close, the December corn futures finished 1 3/4¢ higher at $3.48, while March futures finished 1 1/2¢ higher at $3.57 per bushel. November soybean futures finished 3¢ higher at $9.79 3/4, while January soybean futures closed 3¢ higher at $9.89 1/2. December wheat futures closed 5 3/4¢ lower at $4.12. December soy meal futures finished $0.30 short ton lower at $306.40. December soy oil futures closed $0.12 higher at 35.10¢ per pound.  In the outside markets, the Brent crude oil market is $0.59 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 7 points lower.

 

 

Mike

 

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At 11:45am:

Informa, the private analyst firm, released its November Crop Production estimates Thursday.

 

U.S. Corn yield 174 vs 173.4 in October
U.S. Soybean yield 52.4 vs 51.4 in October
 

 

What say you?

 

Mike

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At mid-day:

At mid-day, the December corn futures are 1/2¢ lower at $3.45, while March futures are 3/4¢ lower at $3.54 per bushel. November soybean futures are 1¢ higher at $9.77, while January soybean futures are 1/4¢ higher at $9.86. December wheat futures are 7 3/4¢ lower at $4.10. December soy meal futures are $1.00 short ton lower at $305.10. December soy oil futures are $0.12 lower at 34.86¢ per pound.  In the outside markets, the Brent crude oil market is $0.69 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 11 points lower.

 

 

Mike

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At 9am:

In early trading, the December corn futures are 1¢ higher at $3.47, while March futures are 1¢ higher at $3.56 per bushel. November soybean futures are 2 3/4¢ higher at $9.79, while January soybean futures are 2 1/2¢ higher at $9.89. December wheat futures are 1 1/2¢ lower at $4.16. December soy meal futures are $1.40 short ton higher at $308.10. December soy oil futures are $0.07 higher at 35.05¢ per pound.  In the outside markets, the Brent crude oil market is $0.10 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 30 points higher.

 

 

Mike

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Corn and soybeans were modestly higher in overnight trading after reports the past two days of a soybean sale to China and a shipment of corn destined for Mexico showed demand remains strong amid low prices. Trading volumes likely will be low today as most of Chicago is still celebrating the Cubs dramatic World Series victory. In other news, the Federal Reserve yesterday said it would leave interest rates alone ahead of next Tuesday's election. The CME Group's FedWatch Tool, however, gives a 71.5% chance that the Fed will hike rates next month. 

 

Here's what happened overnight:

 

Brent Crude Oil = 1.1% higher. 
West Texas Intermediate Crude Oil = 1% higher.

Dollar = down 0.1%.

Wall Street = U.S. stock futures higher in overnight trading.
World Markets = Global stocks rise amid Brexit controversy. 

4 Replies
Honored Advisor

Re: Floor Talk November 3

 Cuba ... 8,000,000 bu of corn

 

Is Cuba pronounced Barbados?

 

How many cigars is that?

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Honored Advisor

Re: Floor Talk November 3

Frankly, I'm surprised there are any markets today at all in Chicago.   Apparently, he** has frozen over.

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Honored Advisor

Re: Floor Talk November 3

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Brian_K
Senior Reader

Re: Floor Talk November 3

Love it!

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