Floor Talk September 1, 2020

[marketeye]

At the close:

At the close, the Dec. corn futures finished 1/4¢ higher at $3.58. March corn futures settled 1/4¢ higher at $3.67 1/2.

Nov. soybean futures closed 1 1/4¢ higher at $9.54 1/2. January soybean futures ended 1 1/4¢ higher at $9.61.

Dec. wheat futures ended 11 3/4¢ higher at $5.64.


Dec. soymeal futures closed $1.70 per short ton lower at $310.80.

Dec. soy oil futures finished $0.02 cent higher at 32.88¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.15 per barrel higher at $42.76. The U.S. dollar is higher, and the Dow Jones Industrials are 146 points higher.

Mike

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At midsession:

At midsession, the Dec. corn futures are 1/2¢ lower at $3.57 3/4. March corn futures are 3/4¢ lower at $3.66 1/2.

Nov. soybean futures are 1/4¢ lower at $9.53 1/2. January soybean futures are 3/4¢ lower at $9.59 3/4.

Dec. wheat futures are 14 1/4¢ higher at $5.66 3/4.


Dec. soymeal futures are $0.50 per short ton lower at $312.00.

Dec. soy oil futures are $0.04 cent higher at 32.90¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.56 per barrel higher at $43.17. The U.S. dollar is lower, and the Dow Jones Industrials are 62 points higher.

Mike

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At 8:45am:

China buys huge amount of U.S. corn, soybean rally continues Tuesday.

See the Tuesday markets here.

Thanks,

Mike

[rickgthf]

So, is this what trump meant when he asked the Chinese to help him get re-elected?  I wonder what he promised them?

[sdholloway56]

Sales are nice.

But I’d reserve “huge” for something that suggests a change in the game.

[illinifarmer]

The humorous let down of the word huuuuge!!!

[roarintiger1]

I hope everyone realizes that with the Chinese agreement to purchase $40 billion worth from the U.S. , they could buy our entire soybean production for one year. It certainly won’t happen . But that......,would be huge!

[BA Deere]

If the ChiComs just started paying for the intellectual property that they now steal, would $40 Billion cover even that?

[illinifarmer]

Yes, probably. However I’m pretty sure they would want some of their money from the US.  27 trillion and counting