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Veteran Advisor

Floor Talk, September 13, 2019

At midsession:

At midsession, the Dec. corn futures are 2 1/2¢ higher at $3.69 1/4. March corn futures are 2 1/4¢ higher at $3.82.

Nov. soybean futures are 2 1/2¢ higher at $9.00. Jan. soybean futures are 5¢ higher at $9.14.

Dec. wheat futures are 5¢ higher at $4.88 1/2.



December soymeal futures are $3.10 per short ton higher at $304.40.

 December soy oil futures are $0.09 higher at 29.25¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.19 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 56 points higher.

 

Mike

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At 8:57am:

In early trading, the Dec. corn futures are 4 1/2¢ higher at $3.71 1/4. March corn futures are 4 1/4¢ higher at $3.84.

Nov. soybean futures are 3 1/2¢ higher at $8.99. Jan. soybean futures are 3 1/4¢ higher at $9.12.

Dec. wheat futures are 5 3/4¢ higher at $4.89 1/2.



December soymeal futures are $1.90 per short ton higher at $303.20.

 December soy oil futures are $0.05 higher at 29.21¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.12 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 48 points higher.

Private exporters reported to the U.S. Department of Agriculture export sales of 204,000 metric tons of soybeans for delivery to China during the 2019/2020 marketing year.

The marketing year for soybeans began Sept. 1.

Al Kluis, Kluis Advisors, says that investors are squarely focused on trade news with the U.S. and China.

“The USDA crop report was negative for corn and a little positive for soybeans. The numbers were traded for about 15 minutes, and then the optimism took over. Traders anticipated the US/China trade talks could be heading in a positive direction. Time will tell,” Kluis told customers in a daily note.

Kluis added, “Keep a close eye on the headlines out of Washington relating to the US/China trade war. With The US holding off on some tariff increases for 2 weeks, could this be a sign of more tariff rollback to come.”

 

Mike

 

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5 Replies
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Veteran Advisor

Re: Floor Talk, September 13, 2019

Dost thou not ponder whether  China's food inflation rising to 10% in August doth playeth a role...??  Smiley Wink

https://tradingeconomics.com/china/food-inflation

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Honored Advisor

Re: Floor Talk, September 13, 2019

The U.S. needs to put the hammer down further and keep it down now more than ever when it comes to dealing with China.  Anything less will not be acceptable.

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Senior Advisor

Re: Floor Talk, September 13, 2019

Triple  the  tariff   charges ,  immediately ,    or  close  Long  Beach  Calif   port  - ?   Which  -  ?     

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Contributor

Re: Floor Talk, September 13, 2019

 Election year looming straight ahead. Any deal that can be spun as a win will be made. Not holding my breath as to how good it will be.  

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Veteran Advisor

Cash beans

Should be bout $1 higher next week. 

The grain Ups are just getting started now. 

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