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Veteran Contributor

Floor Talk October 16

At 9:00:


 


In early trading, the December corn futures are 2 1/2¢ lower at $3.75. March futures are 2 3/4¢ lower at $3.87.

 
November soybean futures are 5¢ lower at $8.86. January soybean futures are 5¢ lower at $9.00.

 
December wheat futures are 1/2¢ lower at $5.24.

 
December soymeal futures are 3.70¢ per short ton lower at $323.30.

 
December soy oil futures are $0.02 higher at 29.78¢ per pound.

 
In the outside markets, the NYMEX crude oil market is $0.23 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 274 points higher.

 

 

Mike

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Soybeans and corn were lower in overnight trading as the harvest is expected to accelerate amid more dry weather. The USDA said corn and bean collection moved forward, albeit slowly, in the week through Sunday. Beans dropped about 7 cents, corn was down about 2 cents and wheat lost 2-3 cents overnight. Export inspections numbers were excellent for soybeans as they almost doubled, but awful for corn. In weather news, it's going to be cold in the central Midwest, which won't help dry down after all the rain much of the region has seen in the past few weeks. Check out today's 3 Big Things for all the details. 

West Texas Intermediate = down 0.6%.

Brent Crude = down 0.7%.

Dollar = down 0.1%.

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

World Markets = Global stocks mixed overnight.

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4 Replies
Senior Contributor

Re: Floor Talk October 16

Wow, another profit day for traders as crops continue to decline and sit in the field. Soybeans almost double on exports and you greedy crooks trade lower.
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Veteran Contributor

Re: Floor Talk October 16

Soybeans double on exports because

 

1) American soybeans are cheap with no China demand

2) High damage causing beans to come to market sooner

3) Carryover stocks and high yields have caused a surplus that can't/won't find a home without China. 

 

 

 

 

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Honored Advisor

Re: Floor Talk October 16

Soybean crushers in the US processed a total of 160.8 million bushels during September

 

Higher number than "future trader" types guessed.

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Honored Advisor

Re: Floor Talk October 16

export inspections increased this week------- another thing the china addicts won't mention.

 

Traders are the worst  information sources...

 

 

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