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Veteran Contributor

Floor Talk November 30

At the close:

At the close, the March corn futures finished 2 1/4¢ higher at $3.55 3/4. May futures settled 2 1/4¢ higher at $3.63. Jan. soybean futures ended 6 3/4¢ lower at $9.85.  March soybean futures settled 6 1/2¢ lower at $9.97. March wheat futures closed 1 3/4¢ lower at $4.33. January soy meal futures finished $0.80 per short ton lower at $326.50. January soy oil futures closed 0.22 lower at 33.85¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.01 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 307 points higher.

 

Jason Roose, U.S. Commodities, says Brazil's weather is pressuring prices.

"Soybeans are trading weaker today in a thin holiday trading range do to favorable weather in Brazil ,anticipating negative export shipment numbers and larger base acres projected for next year," Roose says.

 

Mike

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At mid-session:

At mid-session, the March corn futures are 1¢ higher at $3.54. May futures are 1 1/4¢ higher at $3.62. Jan. soybean futures are 6¢ lower at $9.86.  March soybean futures are 5 3/4¢ lower at $9.98. March wheat futures are 1 3/4¢ higher at $4.36. January soy meal futures are $0.30 per short ton lower at $327.00. January soy oil futures are 0.19 lower at 33.88¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.05 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 265 points higher.

 

Mike

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At 9:25am:

 

If you missed it, the USDA Weekly Export Sales Report showed lackluster demand, except for soybeans.

 

Wheat=  187,400 metric tons vs. the trade’s expectations of between 250,000-500,000 metric tons,

Corn= 599,200 mt. vs. the trade’s expectations of between 700,000-1,300,000 metric tons,

Soybeans=  942,900 mt. vs. the trade’s expectations of between 700,000-1,200,000 metric tons and

Soybean meal=  178,600 mt. vs. the trade’s expectations of between 100,000-350,000 metric tons.

 

 

Separately, the USDA announced Thursday fresh sales for soybeans.

 

On Thursday, the USDA announced fresh export sales for soybeans.

  • Export sales of 525,000 metric tons of soybeans for delivery to China during the 2017/2018 marketing year
  • Export sales of 132,000 metric tons of soybeans for delivery to unknown destinations during the 2017/2018 marketing year
  • Export sales of 110,000 metric tons of grain sorghum for delivery to China during the 2017/2018 marketing year 

The marketing year for soybeans and sorghum began September 1.

 

Mike

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In early trading:

At 9am, the Dec. corn futures are 3 1/2¢ higher at $3.42. March futures are 2 1/2¢ higher at $3.56. Jan. soybean futures are 3 1/4¢ lower at $9.89.  March soybean futures are 3 1/4¢ lower at $10.01. March wheat futures are 1 1/2¢ higher at $4.36. January soy meal futures are $4.10 per short ton lower at $323.30. January soy oil futures are 0.55 higher at 34.62¢ per pound.  In the outside markets, the NYMEX crude oil market is $0.35 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 127 points higher.

 

Mike

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Soybeans and grains were a touch lower overnight after rising yesterday. Prices fell on forecasts for favorable weather in South America and promising wheat weather in Australia. Beans were down about 2 cents, corn lost a penny and wheat was down 1-3 cents overnight. Ethanol production backed off its record levels, but only slightly, falling to the second-biggest weekly output on record. In weather news, there are some storms brewing in the southern Plains, but they likely won't arrive until late Sunday or Monday, according to the National Weather Service. Get all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-november-30.

 

Brent Crude Oil = up 1.5%

West Texas Intermediate = up 0.9%

Dollar = up 0.1%.

Wall Street = U.S. stock futures higher in pre-market trading.

World Markets = Global stocks mixed overnight.

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Veteran Advisor

Re: Floor Talk November 30

And beans are down!
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Advisor

Re: Floor Talk November 30

CROOKS!!!!!👎🏻👎🏻
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