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Veteran Contributor

Floor Talk October 27

At the close:

At the close, the Dec. corn futures finished 1 3/4¢ lower at $3.48 3/4. March futures settled 2¢ lower at $3.62 1/2. Nov. soybean futures closed 4¢ higher at $9.75 1/4.  Jan. soybean futures ended 4¢ higher at $9.86 1/2. December wheat futures closed 4 1/2¢ lower at $4.27 1/4. Dec. soy meal futures closed unchanged at $312.10. Dec. soy oil futures finished 0.34¢ higher at 34.84¢ per pound.  In the outside markets, the Brent crude oil market is $1.26 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 38 points higher.

 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are 2 1/2¢ lower at $3.48. March futures are  21/2¢ lower at $3.62. Nov. soybean futures are 1 1/2¢ higher at $9.72.  Jan. soybean futures are 2¢ higher at $9.84. December wheat futures are 5 1/4¢ lower at $4.26. Dec. soy meal futures are $0.20 per short ton lower at $311.90. Dec. soy oil futures are 0.14¢ higher at 34.64¢ per pound.  In the outside markets, the Brent crude oil market is $1.14 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 44 points higher.

 

Mike

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At 11:05am:

If you missed it, the USDA announced fresh sales Friday.

 

Private exporters reported to the U.S. Department of Agriculture the following activity:

-- Export sales of 238,000 metric tons of soybeans for delivery to China during the 2017/2018 marketing year; and

-- Export sales of 132,000 metric tons of corn for delivery to Spain during the 2017/2018 marketing year.

The marketing year for corn and soybeans began Sept. 1.

 

Mike

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In early trading:

At 9:25am, the Dec. corn futures are 1/2¢ lower at $3.50. March futures are 1/2¢ lower at $3.64. Nov. soybean futures are 2 3/4¢ higher at $9.74.  Jan. soybean futures are  2 3/4¢ higher at $9.85. December wheat futures are 2 3/4¢ lower at $4.29. Dec. soy meal futures are $0.70 per short ton higher at $312.80. Dec. soy oil futures are unchanged at 34.50¢ per pound.  In the outside markets, the Brent crude oil market is $0.58 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 9 points higher.

 

Mike

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Corn and wheat were slightly lower overnight after the dollar jumped after passage of the budget, which will clear the path for tax reform. A stronger dollar makes U.S. goods more expensive to overseas buyers, threatening demand. Corn was down about a penny, wheat was down 1-2 cents and beans were off by less than a cent. Export sales were strong last week for corn and beans but disappointing for wheat. In weather news, a hard freeze warning is in effect for much of the southern Plains while a freeze warning has been issued for counties stretching from Minnesota to Texas. 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-27

 

Brent Crude Oil = down 0.3%

West Texas Intermediate = down 0.4%

Dollar = up 0.4%.

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

World Markets = Global stocks higher overnight.

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