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Veteran Contributor

Floor Talk October 26

At the close:

At the close, the Dec. corn futures finished 1/2¢ lower at $3.50. March futures ended 3/4¢ lower at $3.64. Nov. soybean futures closed 4 1/4¢ lower at $9.71 1/4.  Jan. soybean futures settled 3 3/4¢ lower at $9.82 1/2. December wheat futures ended 3 3/4¢ lower at $4.31. Dec. soy meal futures finished $3.30 per short ton lower at $312.10. Dec. soy oil futures closed 0.24¢ higher at 34.50¢ per pound.  In the outside markets, the Brent crude oil market is $0.36 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 94 points higher.

 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are 1/4¢ lower at $3.50. March futures are 3/4¢ lower at $3.64. Nov. soybean futures are 1/2¢ higher at $9.75.  Jan. soybean futures are 1¢ higher at $9.87. December wheat futures are 3 3/4¢ lower at $4.31. Dec. soy meal futures are $1.80 per short ton lower at $313.60. Dec. soy oil futures are 0.36¢ higher at 34.62¢ per pound.  In the outside markets, the Brent crude oil market is $0.24 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 89 points higher.

 

Mike

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At 10:12am:

If you missed it, the USDA Weekly Export sales Report Thursday showed that soybean sales beat expectations, corn sales came in at the high end, and wheat was within.

 

Corn= 1.384 million metric tons vs. the trade’s expectations of between 800,000-1,400,000 mt.

Soybeans= 2.129 million mt. vs. the trade’s expectations of between 1,200,000-1,800,000 mt.

Soybean meal= 142,800 mt. vs. the trade’s expectations of between 150,000-250,000 mt.      

Wheat =  390,600 mt vs. the trade’s expectations of between 300,000-500,000 mt. 

 

Mike

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At the open:

The Dec. corn futures are 1/2¢ lower at $3.50. March futures are unchanged at $3.65. Nov. soybean futures are 2 1/4¢ higher at $9.77.  Jan. soybean futures are 2¢ higher at $9.88. December wheat futures are 1¢ higher at $4.36. Dec. soy meal futures are $0.10 per short ton lower at $315.30. Dec. soy oil futures are 0.13¢ higher at 34.39¢ per pound.  In the outside markets, the Brent crude oil market is $0.09 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 121 points higher.

 

Mike

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Grains and beans were little changed overnight with corn off by less than a penny and soybeans a cent lower. Wheat was up 1/2 to 1 cent overnight. In weather news, freeze and frost warnings abound for much of the Midwest, and in western Kansas a hard freeze is expected tonight with temperatures falling into the low-20s. Traders are watching the export sales report that's due out this morning. 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-26.

 

Brent Crude Oil = down 0.3%

West Texas Intermediate = down 0.1%

Dollar = down 0.1%.

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

World Markets = Global stocks higher overnight.

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3 Replies
Veteran Advisor

Re: Floor Talk October 26

Forget the export report, I'm looking at the weather.  

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Highlighted
Veteran Advisor

Re: Floor Talk October 26

We blowed the doors off soybean exports....and beans are down

They keep changing the story with what is wrong
That keeps prices down

It's a lie

Maybe the Justice department needs to work on
Getting the mafia out of the commodity markets.
That is the only viable explanation.
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Veteran Advisor

Re: Floor Talk October 26

elcheapo, let me ask you a serious question.  Are you trading the same numbers that everyone else is or are you holding on to some other numbers?  If the latter, are your trades profitable?

 

 

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