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Veteran Advisor

Floor Talk October 1

 

We are conducting our Third Annual Benchmark Marketing Survey. We're getting enough data, with multiple year's worth of results, to begin to compare trends and habits. This is for you to be able to benchmark your marketing and risk management plans against others in farming. Could you please take a few minutes, and I mean just a few, to be involved in our annual survey. Here is the link. And, I promise, it literally takes less than 10 minutes, maybe a lot less. In fact, when you are done, post the time it took. That will help others too. Thanks, in advance.

 

 

 

 Successful Farming Marketing Survey

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At the close:

 

The December corn futures settled are trading 1/2 of a cent higher at $3.21 per bushel.

November soybean futures closed 3 1/2 cents higher at $9.16.

December wheat futures finished 1 1/4 cents higher at $4.79.

For Dec. soybean meal futures, the contract is $0.30 per short ton lower at $298.60; Dec. soybean oil futures settled $0.43 higher at $32.80.

 

 

 

In the outside markets, the crude oil is $0.78 per barrel lower, the dollar is higher, and the Dow Jones Industrials are 239 points lower.

 

 

Mike

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t mid-session:

The December corn futures are trading 1 1/4  cents higher at $3.22 per bushel.

November soybean futures are trading 1/2 of a cent higher at $9.13.

December wheat futures are 2 1/4 cents higher at $4.80.

For Dec. soybean meal futures, the contract is $1.50 per short ton lower at $297.40; Dec. soybean oil futures are trading $0.42 higher at $32.79.

 

In the outside markets, the crude oil is $1.31 per barrel higher, the dollar is higher, and the Dow Jones Industrials are 190 points lower.

 

Jack Scoville, PRICE Futures Group vice-president, says today's price action looks like a general recovery day, so far.  "Egypt bought from France, so no real demand news out there, and my guys are pretty quiet.  I keep feeling that beans got more down side and that corn and wheat are getting close.  There is some rain coming for the next few days to slow down the harvest progress, but nothing out there to damage crops.  I am thinking we are in a short term recovery after the reports yesterday and before the big reports on the 10th, I don’t really see anything else out there to support prices today."

 

Mike

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At the open:

The December corn futures are trading 3/4 of a cent lower at $3.20 per bushel.

November soybean futures are trading 5 cents lower at $9.08.

December wheat futures are 4 3/4 cents lower at $4.73.

For Dec. soybean meal futures, the contract is $1.40 per short ton lower at $297.50; Dec. soybean oil futures are trading $0.05 higher at $32.42.

 

In the outside markets, the crude oil is $0.54 per barrel higher, the dollar is higher, and the Dow Jones Industrials are 95 points lower.

 

Mike

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At 7:20am:

Early calls: Corn is 1-2 cents lower, soybeans 5-7 cents lower, and wheat 4-6 cents lower.

Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.18 per barrel higher.
Dollar = Higher
Wall Street = Seen lower, as the U.S.'s first case of ebola is  confirmed in Texas.
World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.

 

More in a minute,

 

Mike

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5 Replies
Senior Contributor

Re: Floor Talk October 1

Does it not seem the rsi are getting very low on the grains. But think ebola will trump it.

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Frequent Contributor

Re: Floor Talk October 1

not a chance period
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Veteran Advisor

Re: Floor Talk October 1

FYI: This afternoon, FC Stone Intl will release its October crop estimates. Informa will release its numbers Friday. Next Friday, the USDA releases its October Supply/Demand Report (this will include carryin, acreage, and production numbers).

 

What do you think?

 

Mike

 

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Senior Contributor

Re: Floor Talk October 1

Did the survey.

Under 10 minutes.

 

I use hectares for area so did not bother converting to answer questions in the old measure of acres.

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Veteran Advisor

Re: Floor Talk October 1

Canuck_2,

 

Thanks for taking a few minutes to fill out the survey online. I'm glad that you found it to be fast and friendly.

 

Thanks,

 

Mike

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