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Floor Talk, October 25, 2018

[ Edited ]

At the close:

 

At the close, the December corn futures finished 7 1/4¢ lower at $3.61. March futures ended 7¢ lower at $3.73 1/2.


 

November soybean futures closed 8 1/2¢ lower at $8.41 3/4. January soybean futures closed 9¢ lower at $8.54 1/2. 


 

December wheat futures closed 12 1/4¢ lower at $4.87 1/4.


 

December soymeal futures finished 1.80¢ per short ton lower at $304.30.

December soy oil futures closed $0.22 lower at 28.39¢ per pound.


 

In the outside markets, the NYMEX crude oil market is $0.51 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 496 points higher.

 

Mike

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At midsession:

 

At midsession, the December corn futures are 7¢ lower at $3.61. March futures are 6 3/4¢ lower at $3.73.

November soybean futures are 8¢ lower at $8.42. January soybean futures are 8 3/4¢ lower at $8.54. 

December wheat futures are 8 1/4¢ lower at $4.91.


 

December soymeal futures are 2.10¢ per short ton lower at $304.00.

December soy oil futures are $0.21 lower at 28.40¢ per pound.


 

In the outside markets, the NYMEX crude oil market is $0.36 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 274 points higher.

 

Mike

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At 9:00am:

 

In early trading, the December corn futures are 5¢ lower at $3.63. March futures are 5¢ lower at $3.75.



 

November soybean futures are 4 3/4¢ lower at $8.45. January soybean futures are 5 1/4¢ lower at $8.58. 



 

December wheat futures are 5 1/2¢ lower at $4.94.



 

December soymeal futures are 1.70¢ per short ton lower at $304.40.

December soy oil futures are $0.06 lower at 28.55¢ per pound.


 

In the outside markets, the NYMEX crude oil market is $0.54 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 275 points higher.

 

Al Kluis, Kluis Advisors, says that the ag markets are at the mercy of the outside markets.

 

“Hedge pressure is escalating as we get to the tail end of harvest. The shake-up in the equity markets is also causing some negative influence in our commodity markets as investors have a tendency to pull money out and go to the sideline,” Kluis stated to customers in a daily note.

 

 

USDA Weekly Export Sales:

 

Wheat= 442,600 metric tons vs. the trade’s expectations of between 250,000-500,000 mt.

 

Corn= 349,500 mt. vs. the trade’s expectations of between 400,000-750,000 mt.

 

Soybeans= 212,700 mt. vs. the trade’s expectations of between 300,000-700,000 mt.

 

Mike