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Veteran Contributor
Posts: 550
Registered: ‎09-09-2014
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Floor Talk October 5

[ Edited ]

At the close:

At the close, the Dec. corn futures settled 1 1/4¢ higher at $3.49 1/2, while March futures finished 1 1/4¢ higher at $3.62 1/2. Nov. soybean futures settled 10¢ higher at $9.68 1/4, Jan. soybean futures closed 10 1/4¢ higher $9.79. September wheat futures closed 1 1/4¢ lower at $4.40 3/4. Dec. soy meal futures closed $5.90 per short ton higher at $316.90. Dec. soy oil futures settled $0.23 lower at 33.00¢ per pound.  In the outside markets, the Brent crude oil market is $0.69 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 99 points higher.

 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are 1¢ higher at $3.49, while March futures are 1¢ higher at $3.62. Nov. soybean futures are 11 1/2¢ higher at $9.69, Jan. soybean futures are 11 3/4¢ higher $9.80. September wheat futures are 3/4¢ lower at $4.41. Dec. soy meal futures are $7.00 per short ton higher at $318.00. Dec. soy oil futures are $0.28 lower at 32.95¢ per pound.  In the outside markets, the Brent crude oil market is $0.87 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 88 points higher.

 

Mike

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At 9:30am:

If you missed it earlier, the USDA's Weekly Export Sales Report showed higher corn and soybean meal exports than expected, soybean sales were at the high end of expectations.

 

 

Corn= 814,000 metric tons  vs. the trade’s expectations of between 350,000-750,000 mt.

Soybeans=1.01 million mt. vs. the trade’s expectations of between 600,000-1,200,000 mt.

Wheat= 492,300 mt. vs. the trade’s expectations of between 300,000-500,000 mt.

Soybean meal= 340,500 mt.  vs. the trade’s expectations of between 100,000-200,000 mt. 

 

Mike

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At the open:

In early trading, the Dec. corn futures are 1/4¢ lower at $3.48, while March futures are 1/4¢ lower at $3.61. Nov. soybean futures are 3 3/4¢ higher at $9.62, Jan. soybean futures are 4¢ higher $9.72. September wheat futures are 3¢ lower at $4.39. Dec. soy meal futures are $1.80 per short ton higher at $312.80. Dec. soy oil futures are $0.06 lower at 33.17¢ per pound.  In the outside markets, the Brent crude oil market is $0.46 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 22 points higher.

 

Mike

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Corn and beans were higher overnight amid harvest delays and strong overseas demand for soybeans. Rain is expected where Nebraska, Iowa, Missouri and Kansas meet, which may cause flooding in some low-lying areas. Corn was up about 2 cents and soybeans gained 4 cents overnight, while wheat was little changed. Ethanol production was up last week after falling below the 1 million-barrel-a-day mark after a 13-week run. Stockpiles also were up. On tap today is the weekly USDA export sales report, so it'll be interesting to see if the strong soybean sales continue. 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-5.

 

Here's what happened overnight:

 

Brent Crude Oil = up 0.6%

West Texas Intermediate = up 0.2%

Dollar = up 0.1%.

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

World Markets = Global stocks higher overnight, several exchanges in Asia closed. 

Advisor
Posts: 507
Registered: ‎08-31-2012
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Re: Floor Talk October 5

[ Edited ]

Help is on the way for Mississippi River barge traffic.  Plenty of water flowing out of MN and WI.

http://www.dnr.state.mn.us/river_levels/index.html

https://waterwatch.usgs.gov/?m=real&r=wi

 

The 2+ inches we got earlier this week didn't get to the tile

but the 1" to 2" forecasted for the rest of the week probably will.

We got less than half of what fell in places west and north of us.

 

 

Honored Advisor
Posts: 5,329
Registered: ‎01-10-2012
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Re: Floor Talk October 5

Hasn't started yet but northern Missouri is under flood watch for tonight and tomorrow.

 

Got us in the three inch+ range here for next two days.

Honored Advisor
Posts: 7,659
Registered: ‎07-18-2011
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Re: Floor Talk October 5

Well there is. More being pushed that way. Steady rain this morning. Across panhandle region.
Honored Advisor
Posts: 7,659
Registered: ‎07-18-2011
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Re: Floor Talk October 5

Those droughts always find a way to average out . 2017 heavy rains at planting and harvest.

We will have to listen to the buyer mantra for another 60 days.