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Veteran Contributor

Floor Talk October 25

At 3:55pm:

The Renewable Fuels Association released Wednesday its weekly note on U.S. ethanol production.

 

"According to EIA data analyzed by the Renewable Fuels Association, ethanol production averaged 1.039 million barrels per day (b/d)—or 43.64 million gallons daily and a 6-week high. That is up 19,000 b/d from the week before and 48,000 b/d greater than a year ago. The four-week average for ethanol production increased to 1.009 million b/d for an annualized rate of 15.47 billion gallons.
 
Stocks of ethanol were 21.0 million barrels—a 2.3% decrease from last week," according to the RFA press release.
 
Mike
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At the close:

At the close, the Dec. corn futures finished 1 3/4¢ lower at $3.51. March futures settled 1 1/2¢ lower at $3.65 1/4. Nov. soybean futures ended unchanged at $9.75 1/2.  Jan. soybean futures closed 1/2¢ higher at $9.86 1/4. December wheat futures finished 2 1/2¢ lower at $4.35. Dec. soy meal futures settled $1.20 per short ton higher at $315.40. Dec. soy oil futures closed 0.08¢ lower at 34.26¢ per pound.  In the outside markets, the Brent crude oil market is $0.34 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 129 points lower.

 

Mike

 

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At mid-session:

At mid-session, the Dec. corn futures are 3/4¢ lower at $3.52. March futures are 1/2¢ lower at $3.66. Nov. soybean futures are 1 3/4¢ higher at $9.77.  Jan. soybean futures are 2 1/4¢ higher at $9.88. December wheat futures are 2 1/2¢ lower at $4.35. Dec. soy meal futures are $1.50 per short ton higher at $315.70. Dec. soy oil futures are 0.03¢ higher at 34.37¢ per pound.  In the outside markets, the Brent crude oil market is $0.33 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 164 points lower.

 

Mike

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At the open:

The Dec. corn futures are 1¢ higher at $3.53. March futures are 1¢ higher at $3.67. Nov. soybean futures are 7¢ higher at $9.82.  Jan. soybean futures are 6 3/4¢ higher at $9.92. December wheat futures are 1 1/2¢ higher at $4.39. Dec. soy meal futures are $2.70 per short ton higher at $316.90. Dec. soy oil futures are 0.21¢ higher at 34.55¢ per pound.  In the outside markets, the Brent crude oil market is $0.27 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 3 points higher.

 

Mike

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Soybeans were higher in overnight trading as prices remained above the key 200-day moving average. Corn was a touch higher but is meeting resistance at the 50-day moving average, according to Allendale. The fundamentals haven't changed much in the past few weeks with strong yields and harvest delays are dominating headlines, leaving prices in a narrow range. Soybeans added about 7 cents overnight while corn was up just under a penny. Wheat rose 1-2 cents. The pork industry was the subject of a recent Rabobank report, and it was mostly good news as the bank expects the space to expand, but it's going to need to see increased demand from overseas buyers to do it. In weather news, winter has come to parts of the north, namely eastern North Dakota, western Minnesota and northeastern South Dakota. Snow and strong winds are expected in the region, which likely will keep growers who are behind on the harvest out of fields for a while, depending on how much snow they get. Check out all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-october-25.

 

Brent Crude Oil = down 0.2%

West Texas Intermediate = up 0.1%

Dollar = up 0.1%.

Wall Street = U.S. stock futures lower in pre-market trading.

World Markets = Global stocks mixed overnight.  

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2 Replies
Honored Advisor

Fixed it for you

Soybeans were higher in overnight trading as prices remained above the key 200-day moving average.

 

Corn was a touch higher but is meeting resistance at the 50-day moving average, according to Allendale.

The fundamentals haven't changed much in the past few weeks with strong yields and harvest delays are dominating headlines, leaving prices in a narrow range.

 

Soybeans added about 7 cents overnight while corn was up just under a penny.

Wheat rose 1-2 cents.

 

The pork industry was the subject of a recent Rabobank report, and it was mostly good news as the bank expects the space to expand, but it's going to need to see increased demand from overseas buyers to do it.

 

In weather news, winter has come to parts of the north, namely eastern North Dakota, western Minnesota and northeastern South Dakota. Snow and strong winds are expected in the region, which likely will keep growers who are behind on the harvest out of fields for a while, depending on how much snow they get.

 


Brent Crude Oil = down 0.2%
West Texas Intermediate = up 0.1%
Dollar = up 0.1%.
Wall Street = U.S. stock futures lower in pre-market trading.
World Markets = Global stocks mixed overnight.

 

Check out all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-october-25.

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Honored Advisor

Re: Fixed it for you

Thank you..........

It really did look like the writer and the "copy and paste" didn't care much.

 

I was looking for the word g-r-a-m-e-r-i-c-a-l on a diagonal so I could circle it for the bonus points.

 

 

Smiley Happy

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