Floor Talk, October 7, 2019

[marketeye]

At the close:

At the close, the Dec. corn futures finished 2 1/4¢ higher at $3.87. March corn futures are 2¢ higher at $3.99.

Nov. soybean futures are 1¢ lower at $9.15 1/2. Jan. soybean futures finished 3/4¢ lower at $9.29 1/4.

Dec. wheat futures closed 1 1/4¢ lower at $4.89 1/4.



December soymeal futures finished $1.60 per short ton lower at $302.10.

 December soy oil futures closed 0.20 cents higher at 30.06¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.06 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 48 points lower.

Mike

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At 11:19am:

At midsession, the Dec. corn futures are 2 1/4¢ higher at $3.87. March corn futures are 1 3/4¢ higher at $3.98 3/4.

Nov. soybean futures are 1 3/4¢ lower at $9.14 1/2. Jan. soybean futures are 1 3/4¢ lower at $9.28 1/4.

Dec. wheat futures are 1 1/2¢ higher at $4.92 3/4.



December soymeal futures are $1.80 per short ton lower at $301.90.

 December soy oil futures are 0.18 cents higher at 30.04¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.93 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 19 points higher.

Mike

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At 10:54am:

If you missed it, here are the results of today's USDA’s weekly Export Inspection:

Corn= 467,000 metric tons, below trade’s expectations

Soybeans= 1.039 million metric tons, above trade estimates.

Wheat= 385,000 mt., below trade expectations.

Mike

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At 10:34am:

In early trading, the Dec. corn futures are 3/4¢ higher at $3.85 3/4. March corn futures are 1/2¢ higher at $3.97.

Nov. soybean futures are 3 1/4¢ lower at $9.13. Jan. soybean futures are 3¢ lower at $9.27 1/4.

Dec. wheat futures are 3/4¢ lower at $4.89 3/4.

December soymeal futures are $1.50 per short ton lower at $302.20.

December soy oil futures are 0.01 cents lower at 29.85¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.97 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 74 points lower.

On Monday, private exporters reported to the USDA the following activity:

--Export sales of 198,000 metric tons of soybeans for delivery to China during the 2019/2020 marketing year; and

--Export sales of 240,000 metric tons of soybeans for delivery to unknown destinations during the 2019/2020 marketing year.

The marketing year for soybeans began Sept. 1.

Al Kluis, Kluis Advisors, says that investors have one eye on South America’s planting weather and this Thursday’s USDA Supply/Demand Report.

“The weather forecasts in South America suggest more rain each week, but so far the actual amount of rain has been less than expected,” Kluis told customers in a daily note.

Kluis added, “The monthly USDA report on Thursday will take total corn production and projected ethanol usage lower. The bottom line will not change much in projected ending stocks.

Mike