Floor Talk October 9
Hello gang. Could you help us out with something, please? We are conducting our Third Annual Benchmark Marketing Survey. We're getting enough data, with multiple year's worth of results, to begin to compare trends and habits. This is for you to be able to benchmark your marketing and risk management plans against others in farming. Could you please take a few minutes, and I mean just a few, to be involved in our annual survey. Here is the link. And, I promise, it literally takes less than 10 minutes, maybe a lot less. In fact, when you are done, post the time it took. That will help others too. Thanks, in advance.
At the close:
The December corn futures finished 1 1/2 cents higher at $3.44 per bushel.
November soybean futures closed 7 cents higher at $9.42.
December wheat futures ended 14 1/2 cents lower at $4.93.
For Dec. soybean meal futures, the contract closed $3.70 per short ton higher at $313.50; Dec. soybean oil futures finished $0.01 lower at $33.01.
In the outside markets, the crude oil is $1.88 per barrel lower, the dollar is higher, and the Dow Jones Industrials are 334 points lower.
The December corn futures are trading 2 cents higher at $3.45 per bushel.
November soybean futures are trading 5 1/4 cents higher at $9.40.
December wheat futures are 15 1/4 cents lower at $4.92.
For Dec. soybean meal futures, the contract opened $3.20 per short ton higher at $313.00; Dec. soybean oil futures are trading $0.02 higher at $33.04.
Alan Brugler, President Brugler Marketing & Management LLC, says that he doesn't have a lot of good reasons for the corn to go up today, other than general commodity buying due to the plunging stock market.
"Export sales were on the high end of pessimistic expectations. CONAB did confirm that Brazilian corn acreage was down 1.7 to 4.6%, but that is a pretty broad range. Beans are up due to strength in the meal (boosting crush margins and allowing higher bean prices). Soybean export sales are also running very strong for this early point in the marketing year."
At the open:
The December corn futures opened 1 cent lower at $3.41 per bushel.
November soybean futures opened 5 1/2 cents higher at $9.40.
December wheat futures opened 7 cents lower at $5.00.
For Dec. soybean meal futures, the contract opened $3.00 per short ton higher at $312.80; Dec. soybean oil futures are trading unchanged at $33.01.
In the outside markets, the crude oil is $0.58 per barrel lower, the dollar is higher, and the Dow Jones Industrials are 58 points lower.
USDA Weekly Exports Sales :
Wheat exports were 372,400 metric tons vs. the trade's expectations of between 375,000-700,000 metric tons.
Corn 784,000 metric tons vs. the trade's expectations of 500,000-900,000 metric tons.
Soybeans= 944,900 metric tons vs. the trade's expectations of between 300,000-1,050,000 metric tons.
Early calls: Corn is 1-2 cents lower, soybeans 3-5 cents higher, and wheat 5-7 cents lower.
Overnight grain, soybean markets = Trading mixed.
Brent Crude Oil = $0.43 per barrel lower.
Dollar = Lower
Wall Street = Seen lower, as Fed-driven rally fades.
World Markets = Europe stocks were higher, Asia/Pacific stocks were mixed.
More in a minute,