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Veteran Contributor

Floor Talk, October 21

At the close:

At the close, the December corn futures settled 1 1/2¢ higher at $3.52 1/2, while March futures finished 1 1/2¢ higher at $3.62 1/4 per bushel. November soybean futures closed 7 1/2¢ higher at $9.83, while January soybean futures closed 7 1/2¢ higher at $9.92 1/4. December wheat futures closed 2 1/2¢ lower at $4.14 1/2. December soy meal futures finished $1.90 per short ton higher at $306.50. December soy oil futures closed $0.07 higher at 35.12¢ per pound.  In the outside markets, the Brent crude oil market is $0.18 per barrel higher, the U.S. dollar is higher, reaching a 7-month high. And, the Dow Jones Industrials are 15 points lower.

 

 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are 1 3/4¢ higher at $3.52, while March futures are 1 1/2¢ higher at $3.62 per bushel. Nov. soybean futures are 5 3/4¢ higher at $9.81, while Jan. soybean futures are 5 3/4¢ higher at $9.90 1/2. Dec. wheat futures are 2 1/2¢ lower at $4.14. Dec. soymeal futures are $2.00 short ton higher at $306.60. Dec. soyoil futures are $0.08 higher at 35.13¢ per pound.  In the outside markets, the Brent crude oil market is $0.03 per barrel higher, the U.S. dollar is higher, reaching a 7-month high. And, the Dow Jones Industrials are 32 points lower.

 

Dustin Johnson, EHedger LLC grain analyst, says that the market is digesting global supply/demand factors.

“The only thing that could be keeping the bid under the market is world vegoil supply concerns. Otherwise, we see record crops and a rising currency as an albatross for grain prices,” Johnson says.

 

 

Mike

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In early trading:

 

At 9:00am, the Dec. corn futures are 1¢ higher at $3.52, while March futures are 3/4¢ higher at $3.61 per bushel. Nov. soybean futures are 3 1/4¢ higher at $9.78, while Jan. soybean futures are 3 1/2¢ higher at $9.88. Dec. wheat futures are 3/4¢ lower at $4.16. Dec. soymeal futures are $1.60 short ton higher at $306.20. Dec. soyoil futures are $0.06 lower at 34.99¢ per pound.  In the outside markets, the Brent crude oil market is $0.20 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 97 points lower.

 

Mike

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Beans and corn were higher overnight as the export sales report showed overseas buyers are making purchases with prices so low. U.S. exporters sold more than a million tons of corn and 2 million tons of beans last week, a strong showing. A frost warning has been issued for parts of Iowa, Missouri, Illinois and Wisconsin this morning as cool weather moves into the area.  
 

Here's what happened overnight:

 

Brent Crude Oil = 0.8% higher. 
West Texas Intermediate Crude Oil = 0.6% higher. 

Dollar = up 0.2%.

Wall Street = U.S. stock futures decline in overnight trading.
World Markets = Global stocks lower as dollar rises.

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