Floor Talk November 3
If you missed it Friday, the USDA announced fresh exports.
Private exporters reported to the U.S. Department of Agriculture the following activity:
-- Export sales of 300,000 metric tons of hard red winter wheat for delivery to Iraq during the 2017/2018 marketing year, and
-- Export sales of 102,400 metric tons of corn for delivery to Mexico during the 2017/2018 marketing year, and
-- Export sales of 135,000 metric tons of corn for delivery to South Korea during the 2017/2018 marketing year, and
-- Export Sales of 251,000 metric tons of grain sorghum for delivery to unknown destinations during the 2017/2018 marketing year.
The marketing year for wheat began June 1, corn Sept. 1, and sorghum Sept 1.
At the close:
At the close, the Dec. corn futures finished 2 1/4¢ lower at $3.48 1/4. March futures settled 2¢ lower at $3.62. Jan. soybean futures closed 12 12/¢ lower at $9.86 3/4. March soybean futures finished 12 1/2¢ lower at $9.97. December wheat futures are 1 1/2¢ higher at $4.27. Dec. soy meal futures closed $3.50 per short ton lower at $313.90. Dec. soy oil futures finished 0.44¢ lower at 34.42¢ per pound. In the outside markets, the Brent crude oil market is $0.96 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 28 points higher.
In early trading:
At 9am, the Dec. corn futures are 3/4¢ lower at $3.49. March futures are 1/2¢ lower at $3.63. Jan. soybean futures are 2 3/4¢ higher at $9.94. March soybean futures are 5 1/4¢ lower at $9.94. December wheat futures are 1 1/2¢ higher at $4.27. Dec. soy meal futures are $2.10 per short ton lower at $315.30. Dec. soy oil futures are 0.26¢ lower at 34.60¢ per pound. In the outside markets, the Brent crude oil market is $0.17 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 10 points lower.
Soybeans were lower overnight, unable to sustain gains from the past two sessions, while corn was unchanged. Not much going on in terms of fundamental changes, though there was some demand reported yesterday, which didn't seem to have a big impact on prices. Soybeans were down about 2 cents, corn was unchanged and wheat was 1-2 cents higher overnight. Export sales for corn and wheat declined week-over-week while soybeans were higher on a weekly basis but below the four-week average. In weather news, it's going to be cold and snowy in much of the northern Plains and Midwest this weekend, and rain is forecast for the eastern Corn Belt. Get all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-november-3.
Brent Crude Oil = up 0.3%
West Texas Intermediate = up 0.2%
Dollar = up 0.1%.
Wall Street = U.S. stock futures higher in pre-market trading.
World Markets = Global stocks higher overnight.
Re: Floor Talk November 3
it is an absolutely false statement and should not have been printed. on the overnights beans have held over 80% of it's gains of the last two days.
Appears to me they have been on an upward trend since June. So far not a rocket ship but a nice chug chug back up through the lower foothills.
I have no idea what the rest of the little run on statement said....... I usually quit reading with the first obviously false statement.