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marketeye
Veteran Advisor

Floor Talk October 8

At the close:

At the close, the Dec. corn futures settled 4 1/4 cents lower at $3.91 1/4.  Nov. soybean futures settled 9 3/4 cents lower at $8.81 1/4.

Dec. wheat futures closed 5 1/4 cents lower at $5.11 1/2.

Dec. soymeal futures finished $2.20 per short ton lower at $304.30. Dec. soyoil futures settled $0.26 lower at $28.36. 

In the outside markets, the NYMEX Crude oil market is $1.57 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 41 points higher.

Jack Scoville, PRICE Futures Group vice-president, says that the markets were lower today, as some longs get out before the reports tomorrow. “I think the trade estimates are pretty good, but the yield reports have people scared about some big numbers in tomorrow’s report,” Scoville says.  The yields are there, but there was some planted area lost so USDA might keep the yields down a bit to compensate.  Funds were the big sellers.  The market action should be dead tonight and early tomorrow, then the excitement starts.”

Mike

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At mid-session:

At mid-session, the Dec. corn futures are 3 3/4 cents lower at $3.92.  Nov. soybean futures are 10 cents lower at $8.81.

Dec. wheat futures are 5 1/2 cents lower at $5.11.

Dec. soymeal futures are trading $2.90 per short ton lower at $303.60. Dec. soyoil futures are trading $0.26 lower at $28.36. 

In the outside markets, the Brent Crude oil market is $1.03 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 29 points higher.

Mike

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At the open:

At the open, the Dec. corn futures opened 1 3/4 cents lower at $3.94.  Nov. soybean futures opened 4 1/4 cents lower at $8.86.

Dec. wheat futures opened 3/4 of a cent higher at $5.17.

Dec. soymeal futures opened $0.60 per short ton higher at $305.90. Dec. soyoil futures are trading $0.21 lower at $28.41. 

In the outside markets, the Brent Crude oil market is $0.44 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 43 points lower.

 Mike

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At 7:00am:

 

Early calls: Corn 1-2 cents lower, soybeans 3-4 cents lower and wheat 2-4 cents higher.

 

Trackers:
Overnight grain, soybean markets = Trading mostly lower.
Brent Crude Oil = $0.21 higher.
Dollar =Lower.  
Wall Street = Seen lower, with market awaiting the Fed speech.

World Markets = Europe stocks were mixed, Asia/Pacific stocks were mosly lower.

 

 

 

More in a minute,

 

Mike

 
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1 Reply
Jim Meade / Iowa City
Senior Advisor

Re: Floor Talk October 8

I was finishing up soybeans today and didn't get to listen to the markets very well.  My combine radio is no good on some stations.

 

Friday may be interesting but I bet the trade factors in the news rather quickly.

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