Floor Talk October 30
At the close:
At the close, the Dec. corn futures finished steady at $3.48 3/4. March futures ended 1/4¢ higher at $3.62 3/4. Nov. soybean futures settled 2 1/2¢ lower at $9.72 3/4. Jan. soybean futures settled 2¢ lower at $9.84 1/2. December wheat futures closed 2 1/2¢ lower at $4.24 3/4. Dec. soy meal futures finished $0.20 per short ton higher at $312.30. Dec. soy oil futures ended 0.16¢ lower at 34.68¢ per pound. In the outside markets, the Brent crude oil market is $0.22 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 75 points lower.
At mid-session, the Dec. corn futures are 1¢ lower at $3.47. March futures are 3/4¢ lower at $3.61. Nov. soybean futures are 2¢ lower at $9.73. Jan. soybean futures are 1 1/2¢ lower at $9.85. December wheat futures are 3 1/2¢ lower at $4.23. Dec. soy meal futures are $0.20 per short ton higher at $312.30. Dec. soy oil futures are 0.17¢ lower at 34.67¢ per pound. In the outside markets, the Brent crude oil market is $0.03 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 80 points lower.
In early trading:
At 9:17am, the Dec. corn futures are 1/2¢ lower at $3.48. March futures are 1/4¢ lower at $3.62. Nov. soybean futures are 2¢ lower at $9.77. Jan. soybean futures are 2 3/4¢ higher at $9.89. December wheat futures are 2¢ lower at $4.25. Dec. soy meal futures are $1.60 per short ton higher at $313.70. Dec. soy oil futures are 0.06¢ lower at 34.78¢ per pound. In the outside markets, the Brent crude oil market is $0.50 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 37 points lower.
Soybeans were higher overnight on signs of strong demand from China, whose imports in September were up year-over-year, as were its imports for the first nine months of 2017. The declining dollar, which fell 0.3% overnight, also helped prices. Soybeans added about 5 cents overnight. Corn was little changed, rising less than a penny, while wheat was down 1-2 cents overnight. Money managers reduced their bets on higher soybean prices last week. In weather news, the freezing weather has moved east into eastern Illinois, Indiana and southern Ohio, where warnings have been issued starting tonight. Get all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-october-30.
Brent Crude Oil = up 0.1%
West Texas Intermediate = up 0.1%
Dollar = down 0.3%.
Wall Street = U.S. stock futures lower in pre-market trading.
World Markets = Global stocks lower overnight.
Re: Floor Talk October 30
Either the animated world picture or the carefully airbrushed US picture, crop concerns are not in the picture.
The coffee crop in Columbia is of more concern to the pampered population than the reality of the wind damage in Nebraska, or the drought of the dakotas, the fumonicin epidemic in the panhandle region, drought in southern Iowa, water damage harvest in Indiana, huricane damage from Memphis south through southern texas, etc etc.... all of lesser importance than the thrill of big story found in the bigger picture usually created in an office above the 4th floor.
It is all outweighed by the 400 bu corn crop on a 100 acres in Georga or how the crop looks on the road from DesMoines to Ames on a saturday morning.... And can only be seen through the advice of a professional marketing analyst.
Take heart pohlca65gmail, There is really no big picture that is as important as the real picture that is the one you live with. Everything else is just coffee shop talk. From DC to DesMoines.... Most publishing, administrating, and advising is being done by folks who do not risk any loss in the crop...... so they air brush it to sell to their audience.