Floor Talk October 18
At midsession, the December corn futures are 3 3/4¢ lower at $3.70. March futures are 4¢ lower at $3.82.
November soybean futures are 18 1/2¢ higher at $8.67. January soybean futures are 18 1/4¢ lower at $8.81.
December wheat futures are 5¢ lower at $5.12.
December soymeal futures are 6.20¢ per short ton lower at $317.50.
December soy oil futures are $0.40 lower at 29.16¢ per pound.
In early trading, the December corn futures are 3¢ lower at $3.71. March futures are 3¢ lower at $3.83.
November soybean futures are 12 1/2¢ higher at $8.73. January soybean futures are 12¢ lower at $8.87.
December wheat futures are 4¢ lower at $5.13.
December soymeal futures are 5.40¢ per short ton lower at $318.30.
December soy oil futures are $0.29 lower at 29.27¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.87 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 151 points lower.
Al Kluis, Kluis Advisors, says that the markets will remain choppy for awhile.
“ The market remains a bit choppy. We are seeing some hedge pressure as harvest rolls along, but breaks are supported quickly. Look for the choppy action to continue until we get harvest past 50% in both corn and soybeans,” Kluis stated to customers in a daily note.
USDA's Weekly Export Sales Report:
Corn= 382,500 metric tons vs. the trade’s expectations of between 800,000-1,250,000 mt.
Soybeans= 295,600 mt. vs. the trade’s expectations of between 600,000-1,000,000 mt.
Wheat= 476,000 mt. vs. the trade’s expectations of between 250,000-600,000 mt.
Soybeans were lower in overnight trading as the harvest moves on amid dry weather the past six days. Conditions have improved enough in some areas that received as much as six times normal amount of precipitation in the two weeks through Oct. 11 that farmers are now able to collect their crops. Beans were down about 7 cents, corn lost about 2 cents while wheat was up 1-2 cents. Flooding is still an issue in some parts of eastern Iowa. In central Texas, excessive rainfall the past week has led to extreme flooding along some rivers. In other news, ethanol production in the week through Oct. 12 fell to the lowest level in almost six months, while stockpiles of the biofuel jumped to the highest since March. Check out today's 3 Big Things for all the details.
West Texas Intermediate = down 1.4%
Brent Crude = down 1.5%.
Dollar = up 0.1%.
Wall Street = U.S. stock lower pre-market.
World Markets = Global stocks lower overnight.
Re: Floor Talk October 18
Planted 100% corn this year
My beans are old crop resting comfortably in bins.
Had bearing failure in corn head row unit late Yesterday, 100 +miles of driving this morning to get pieces.
Just finished lunch, got it together, just ready to go reattach it to the head. Lots of bolts and pieces .
Shooting for a 3:30/4:00 in the field time.