Floor Talk September 11
At mid-session, the December corn futures are 1/2¢ lower at $3.66. March futures are 1/2¢ lower at $3.78.
Nov soybean futures are 9¢ lower at $8.36. Jan. soybean futures are 9¢ lower at $8.50.
Dec. wheat futures are 9 1/4¢ lower at $5.19.
Dec. soymeal futures are $1.50 per short ton lower at $317.10. Dec. soy oil futures 0.18¢ lower at 28.18.
In the outside markets, the NYMEX crude oil market is $1.73 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 132 points higher.
In early trading, the December corn futures are 3/4¢ lower at $3.66.
March futures are 1/2¢ lower at $3.78. Nov soybean futures are 6 1/2¢ lower at $8.38.
Jan. soybean futures are 6 3/4¢ lower at $8.52.
Dec. wheat futures are 9 1/2¢ lower at $5.18.
Dec. soymeal futures are $1.10 per short ton lower at $317.50.
Dec. soy oil futures 0.22¢ lower at 28.14.
In the outside markets, the NYMEX crude oil market is $0.13 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 8 points lower.
Private exporters reported to the U.S. Department of Agriculture the follow activity:
--Export sales of 138,000 metric tons of corn for delivery to South Korea during the 2018/2019 marketing year; and
--Cancellations of export sales of 192,000 metric tons of soybeans for delivery to unknown destinations during the 2018/2019 marketing year.
The marketing year for corn and soybeans began Sept. 1.
What say you?
Wheat futures were lower overnight on signs of weak demand for U.S. supplies despite Australia lowering its outlook for its crop. Wheat was down 3-4 cents, corn moved less than a penny and soybeans were up about 2 cents. Wheat sales and exports so far this year are down 25% and 33% year-over-year since the start of the marketing year on June 1, according to the USDA. Export inspections for the week through Sept. 6 were down for corn while being higher for beans and wheat. In weather news, flood warnings are still in effect for several counties in Missouri and Illinois today. On the East Coast, Hurricane Florence is heading toward the Carolina coasts and is expected to make landfall Thursday or Friday. Get all the details in today's 3 Big Things.
West Texas Intermediate = up 0.2%.
Brent Crude = up 0.6%.
Dollar = up 0.1%.
Wall Street = U.S. stock lower pre-market.
World Markets = Global stocks mostly lower overnight.
Re: Floor Talk September 11
Not sure what we have any more, but to call it a "market" is ludicrous.
Saw a report of an early killing freeze in China in soy country.
Not sure this new information age is as conducive to large market up swings as the good 'ol days.
Based on the hundreds of semis finding their way to the eplant everyday and only one of them had new crop on it yesterday, we are not in eminent danger of a shortage.
Same with trucks finding their way to the bean crushing plant. Huge new crop on the verge of harvest there too.
Watched a truck just ahead of me get gate cut at the scales yesterday.
After I dumped I had to sign a basis contract. The phone was warm in there, the head buyer stated "WE DO NOT BUY BEANS" a coop had sent a load of corn with a high % of beans blended in. Oops
Re: Floor Talk September 11
I missed ya Illini,
Hobby It always pops into my head............ when eplants get picky.
One would think that the energy in a bean would convert to ethanol also..... but If not, why did we think we could wrap all manner of cellulosic fiber in a bale and make ethanol out of everything that got hauled in an shove through a grinder???
It looks like a problem.... ethanol wants to a Grade A grain to grind at a "floor sweepin cheap as possible" price..... Yet they store their cheap harvest bushels on the ground and while they pick through your load trying to find a parts per million reason to send you home, they haul their ground stored grain into the pits and stomp the dirt chunks and wet spots and frozen edges through the grates.
But lets face it ,,,the fewer handle it .... the less problems. Screams Vertical Integration.....
No pride left in being a "grower".........