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Veteran Advisor

Floor Talk October 20

At the close:

At the close, the Dec. corn futures settled 3 3/4 cents higher at $3.76 3/4.  Nov. soybean futures finished 5 cents higher at $8.96.
Dec. wheat futures settled 5 1/2 cents higher at $4.91 1/4.
Dec. soymeal futures closed $1.30 per short ton lower at $309.50. Dec. soyoil futures closed $0.52 higher at $28.66.
In the outside markets, the Brent Crude oil market is $0.51 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 14 points lower.

Helen Pound, Vice President Wedbush Securities Inc., Futures DivisionGrain, says that the futures are trading higher, as the recent price break has encouraged end user pricing and bargain hunting.  
“The USDA Daily reporting system indicted that China had bought beans from the US again overnight, she stated in a letter to customers.  “Analysts expect China to buy beans from the US regularly as they fill in gaps in their Oct/Nov purchase line up and add Dec/Jan purchases from the US before the South American harvest dominates trade in February.  There has been much focus recently on the slow start to the rainy season in central-west Brazil.  Farmers have been planting into dry soils in that region in anticipation in a pick-up in rainfall expected this weekend.”

 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are trading 1 cent higher at $3.74.  Nov. soybean futures are trading 2 1/4 cents higher at $8.93.
Dec. wheat futures are trading 1/2 of a cent higher at $4.86.
Dec. soymeal futures are $0.30 per short ton higher at $311.10. Dec. soyoil futures are trading $0.08 higher at $28.22. 
In the outside markets, the Brent Crude oil market is $0.07 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 2 points higher.

 

Mike

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Sorry I'm late today, folks!

 

At the open:

At the open, the Dec. corn futures are trading 3/4 of a cent higher at $3.73.  Nov. soybean futures are trading 4 cents higher at $8.95.
Dec. wheat futures are trading 1 cent higher at $4.86 3/4.
Dec. soymeal futures are $2.40 per short ton higher at $313.20. Dec. soyoil futures are trading $0.15 higher at $28.29. 
In the outside markets, the Brent Crude oil market is $0.07 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 78 points lower.

 

Mike

 

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3 Replies
Honored Advisor

Re: Floor Talk October 20

me too,  

 

Glad your in the lead

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Advisor

Re: Floor Talk October 20

Markets rise in yields that continue to disappoint. What is there an echo in here!?
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Honored Advisor

Re: Floor Talk October 20

Who's disappointed?   I knew the yields weren't gonna be there.   My disappointment came way back in June with the constant rain.   Now....it's just....get this year over with.   Smiley Wink

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