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Veteran Contributor

Floor Talk October 10

At midsession:
 
At midsession, the December corn futures are 1 3/4¢ lower at $3.62. March futures are 2¢ lower at $3.74.

 

November soybean futures are 11 3/4¢ lower at $8.51. January soybean futures are 11 1/2¢ lower at $8.65.

 

December wheat futures ended 2 1/2¢ lower at $5.12.

 

December soymeal futures closed 2.50¢ per short ton lower at $315.30.

 

December soy oil futures closed $0.29 lower at 28.97¢ per pound.

 

In the outside markets, the NYMEX crude oil market is $1.63 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 368 points lower.

 

Mike

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At 9:25am:
 
In early trading, the December corn futures are 1/2¢ lower at $3.64. March futures are 1/2¢ lower at $3.76.

 

November soybean futures are 8 3/4¢ lower at $8.54. January soybean futures are 8 1/2¢ lower at $8.68.

 

December wheat futures are 3 1/2¢ lower at $5.11.

 

December soymeal futures are 2.50¢ per short ton lower at $315.30.

 

December soy oil futures are $0.24 lower at 29.02¢ per pound.

 

In the outside markets, the NYMEX crude oil market is $0.86 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 239 points lower.

 

Mike

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Soybeans were modestly lower in overnight trading on Wednesday as the seemingly incessant rainfall in parts of the Midwest are forecast to come to an end this week. Futures were down about 2 cents, corn was little changed and wheat was off by 2-3 cents. Prices also may be falling ahead of tomorrow's WASDE report when the Department of Agriculture is expected to raise its stockpiles outlook. Export inspections, meanwhile, were down week-to-week for corn and beans but higher for wheat. In weather news, forecasts are indeed calling for an end to rain in much of the Midwest, but for today it's much of the same as another round of storms hammers eastern Iowa, western Illinois and much of Wisconsin. Check out today's 3 Big Things for all the details. 

West Texas Intermediate = down 0.3%.

Brent Crude = down 0.3%.

Dollar = up 0.1%.

Wall Street = U.S. stock lower pre-market.

World Markets = Global stocks mixed overnight.

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35 Replies
Veteran Contributor

Re: Floor Talk October 10

Farmers can't harvest but please by all means keep knocking our prices down.
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Senior Contributor

Re: Floor Talk October 10

No one person or commentator can move an entire commodity market.

 

Had you hedged some of your production on this price bounce during the last two weeks by selling some futures contracts, we wouldn't be having this conversation now. If prices are falling its not because of anyone's commentary, its because there's too much product coming to market, and the end users know it.

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Honored Advisor

Re: Floor Talk October 10

peanut gallery

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Senior Contributor

Re: Floor Talk October 10

Sorry I don't trade peanuts.

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Honored Advisor

Re: Floor Talk October 10

childish peanut gallery

Senior Contributor

Re: Floor Talk October 10

Like I told a talking head on another thread, there are times when I have more of a financial interest in corn farming than you. Have you ever been long a million bushels ? So say what you will, I am just as vested a market participant. When I am positive on the market, you'll be changing your tune.

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Honored Advisor

Re: Floor Talk October 10

Another case of your pure ignorance on at least two levels all in one post.

Your address, 101, idiot Ave, La la land,



You actually think the small margin on a contract of corn is comparable to the investment of raising that same amount?

Also another case of you having a stupid attack of attacking someone that stands head and shoulders above you on many levels.

You are a prime example of the problems with the current cbot system.

Rayf= stupid squared
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Senior Contributor

Re: Floor Talk October 10

That small margin is your insurance premium to avoid catastrophic loss, but clearly that is a concept over your head. You'll understand it better one of these days or years when corn prices fall by a dollar and you have not sold a bushel...that's when the rubber meets the road and the foreclosure signs come out on every farm that didn't hedge their risks. 

 

We have seen this movie far too many times before. If you were wise you would have learned from that experience, but some people have to learn the hard way. I'm telling you how to use your existing capital to earn an extra 10-15% per year and insure yourself against catastrophic loss. And your response is to be a child and call me names.

 

Like I wrote before, please do the opposite from what I suggest, in due course you'll be plowed under at some point and I won't have to listen to your nonsense any more. 

 

But before you go tits up, why don't you learn some manners. I haven't called you any names and have been quite civil in my discussions with you.

 

On the other hand all you demonstrate is that you have a lot of class and its all low.

 

You should be in the manure business, because if I want any more sh*t out of you, I'll squeeze your head.

 

Now don't go away angry, just go away...

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Honored Advisor

Re: Floor Talk October 10

Childish peanut gallery
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