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Veteran Contributor

Floor Talk October 11

At the close:

At the close, the Dec. corn futures settled 2 1/4¢ higher at $3.45 1/2 while March futures closed 2¢ higher at $3.55 per bushel. Nov. soybean futures ended 1/4¢ lower at $9.54 1/4, while Jan. soybean futures finished 1/4¢ higher at $9.61 3/4. Dec. wheat futures finished 3 1/2¢ higher at $4.07 1/4. Dec. soymeal futures settled $2.20 short ton higher at $300.30. Dec. soyoil futures closed $0.47 lower at 33.35¢ per pound.  In the outside markets, the Brent crude oil market is $0.81 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 254 points lower.

 

Mike

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At mid-day:

At mid-day, the Dec. corn futures are 2 1/2¢ higher at $3.45 while March futures are 2¢ higher at $3.55 per bushel. Nov. soybean futures are 3¢ higher at $9.57, while Jan. soybean futures are 3¢ higher at $9.64. Dec. wheat futures are 2 1/2¢ higher at $4.06. Dec. soymeal futures are $2.70 short ton higher at $300.80. Dec. soyoil futures are $0.21 lower at 33.61¢ per pound.  In the outside markets, the Brent crude oil market is $0.65 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 164 points lower.

 

Mike

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At the open:

At the open, the Dec. corn futures are 1/2¢ lower at $3.242 while March futures are 1/2¢ lower at $3.52 per bushel. Nov. soybean futures are 3 3/4¢ higher at $9.58, while Jan. soybean futures are 4¢ higher at $9.65. Dec. wheat futures are unchanged at $4.03. Dec. soymeal futures are $1.10 short ton higher at $299.20. Dec. soyoil futures are $0.18 higher at 34.00¢ per pound.  In the outside markets, the Brent crude oil market is $0.13 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 45 points lower.

 

Mike

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Private exporters reported to the U.S. Department of Agriculture export sales of 161,544 metric tons of corn for delivery to unknown destinations during the 2016/2017 marketing year.

The marketing year for corn began Sept. 1.

 

Mike

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Soybeans were slightly higher on the Chicago Board of Trade overnight on strong demand. Corn and wheat were pretty much unchanged as investors continue to weigh harvest pressure against favorable sales. A few scattered showers are expected in parts of Kansas and Missouri, and along the Iowa-Illinois line today. Flooding along the Mississippi River continues to be a problem for many eastern Missouri and western Illinois towns.   
 

Here's what happened overnight:

 

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

Dollar = up 0.6%.

Wall Street = U.S. stock futures lower in overnight trading.
World Markets = Global stocks decline with oil prices. 

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Veteran Advisor

Re: Floor Talk October 11

A side note.  In Iowa anyway, with the rains coming a regular intervals, will help bushels find a home. The longer and slower harvest is, the easier it is for it to find a home.  Lots of beans left in this area, same for corn- of course it is early. Still think things will get ugly some point in time, but a short, dry harvest would have been a nightmare for handling the crop.  Can't imagine dealing with the mud up north, we have been very fortunate, can't run days, but no ruts so far.  Just not many good bean combining days so far. 6-10 and 8-14 are still called wet.  Brazil looks pretty dry.

 

 

Pictures from NC look pretty ugly.  Of course, northern IA and MN is no picnic either, with earlier rains.

 

Listening to all the political noise, glad I don't have a clue about how corrupt everything is there.  That must be one sad, sorry way to live. But don't lose sleep over it, I am already on the winning team(talent not required), got the KING leading my team.

 

Life is still good.

SC IA

Honored Advisor

Re: Floor Talk October 11

Thanks tony....   keep those exports coming.... we don't need this stuff....

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Honored Advisor

Re: Floor Talk October 11

Or that might be thank you Mike........ 

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Honored Advisor

Re: Floor Talk October 11

 

 

 

       GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT BY REGION AND COUNTRY OF DESTINATION
                                      REPORTED IN WEEK ENDING OCT 06, 2016
                                                -- METRIC TONS --
-----------------------------------------------------------------------------------
                                CORN   CORN                                     
REGION/COUNTRY      WHEAT     YELLOW   WHITE  OATS  SORGHUM   SOYBEANS       TOTALS

ATLANTIC  
   BANGLADESH          0       3,109       0     0         0          0        3,109
   CHINA T             0           0       0     0         0        367          367
   COLOMBIA            0      38,496       0     0         0     11,000       49,496
   INDONESIA           0           0       0     0         0      2,080        2,080
   JAMAICA             0       4,649       0     0         0          0        4,649
   MALAYSIA            0         465       0     0         0        245          710
   THAILAND            0           0       0     0         0      1,126        1,126
   VIETNAM             0       2,179       0     0         0          0        2,179
     SUBTOTAL          0      48,898       0     0         0     14,818       63,716

GULF      
   ALGERIA        30,000           0       0     0         0          0       30,000
   BANGLADESH          0           0       0     0         0     57,775       57,775
   BRAZIL         37,200           0       0     0         0          0       37,200
   CHILE               0      47,749       0     0         0          0       47,749
   CHINA MAIN          0           0       0     0    58,523    724,155      782,678
   COLOMBIA        5,500           0       0     0         0      2,750        8,250
   DOMINICN REP        0       6,900       0     0         0          0        6,900
   HONDURAS        3,072       2,981   3,415     0         0          0        9,468
   INDONESIA      60,700           0       0     0         0     24,950       85,650
   JAMAICA             0      16,300       0     0         0          0       16,300
   JAPAN               0     212,143       0     0     3,076     36,402      251,621
   KOREA REP           0     206,364       0     0         0     60,899      267,263
   MEXICO         37,522     183,537       0     0         0     78,442      299,501
   NICARAGUA           0      20,489       0     0         0          0       20,489
   NIGERIA        20,752           0       0     0         0          0       20,752
   PANAMA              0      22,892       0     0         0          0       22,892
   PERU                0      58,508       0     0         0          0       58,508
   REP S AFRICA        0           0       0     0    20,000          0       20,000
   SAUDI ARABIA        0      71,499       0     0         0          0       71,499
     SUBTOTAL    194,746     849,362   3,415     0    81,599    985,373    2,114,495

PACIFIC   
   CHINA MAIN          0           0       0     0         0    671,877      671,877
   CHINA T        36,014           0       0     0         0          0       36,014
   JAPAN         121,254     108,619       0     0         0          0      229,873
   KOREA REP           0         269       0     0         0          0          269
   PERU                0      30,307       0     0         0          0       30,307
   YEMEN          30,830           0       0     0         0          0       30,830
     SUBTOTAL    188,098     139,195       0     0         0    671,877      999,170

INTERIOR  
   BURMA               0           0       0     0         0        465          465
   CHINA MAIN          0           0       0     0         0      4,776        4,776
   CHINA T             0       8,375       0     0         0     24,638       33,013
   DJIBOUTI            0           0       0     0       294          0          294
   FRENCH POLY         0         245       0     0         0          0          245
   HONG KONG           0         465       0     0         0          0          465
   INDIA               0           0       0     0         0        490          490
   INDONESIA           0           0       0     0         0     22,626       22,626
   JAPAN               0           0       0     0         0        635          635
   KOREA REP           0         759       0     0         0      2,743        3,502
   MALAYSIA            0       1,102       0     0         0      5,117        6,219
   MEXICO         21,554      78,887       0   100     5,894     32,631      139,066
   PHILIPPINES         0         269       0     0         0      2,520        2,789
   REP S AFRICA        0           0       0     0        98          0           98
   THAILAND            0           0       0     0         0      2,595        2,595
   VIETNAM           660         735       0     0         0      3,869        5,264
     SUBTOTAL     22,214      90,837       0   100     6,286    103,105      222,542

TOTAL            405,058   1,128,292   3,415   100    87,885   1,775,173   3,399,923

SHIPMENTS TO CANADA*
                  27,801           0       0     0         0      25,901      53,702
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