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Veteran Advisor

Floor Talk September 15, 2020

At the close:

At the close, the Dec. corn futures finished 3 1/2¢ lower at $3.66. March corn futures closed 3 1/4¢ lower at $3.75 1/2.

Nov. soybean futures ended 8¢ lower at $9.91 1/2. January soybean futures closed 7 1/2¢ lower at $9.95 1/4.

Dec. wheat futures ended 7 1/2¢ lower at $5.38 3/4.


Dec. soymeal futures settled $2.80 per short ton lower at $319.20.

 Dec. soy oil futures closed $0.14 cent lower at 34.15¢ per pound.



In the outside markets, the NYMEX crude oil market is $1.14 per barrel higher at $38.40. The U.S. dollar is higher, and the Dow Jones Industrials are 73 points higher.

 

Mike

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At midday:

At midday, the Dec. corn futures are 3 1/2¢ lower at $3.66. March corn futures are 3 1/4¢ lower at $3.75 1/2.

Nov. soybean futures are 7 3/4¢ lower at $9.91 1/2. January soybean futures are 6 1/2¢ lower at $9.96 1/4.

Dec. wheat futures are 9 1/2¢ lower at $5.36 3/4.


Dec. soymeal futures are $2.20 per short ton lower at $319.80.

Dec. soy oil futures are $0.20 cent lower at 34.09¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.77 per barrel higher at $38.03. The U.S. dollar is higher, and the Dow Jones Industrials are 114 points higher.

Jack Scoville, PRICE Futures Group, says that today's soybean market is lower for a couple of reasons.

“First, it is Tuesday and we often give back a part of the Monday rally or selloff on Tuesday. Second, Hurricane Sally looks to miss the Delta and all of the beans and corn in the region. Third, China bought maybe 4 cargos of soybeans instead of the 6 to 10 rumored yesterday," Scoville says.

 

Mike

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At 8:45am:

 

It's a $10 soybean market Tuesday.

 

See the opening story here.

 

Thanks,

 

Mike

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2 Replies
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Advisor

Re: Floor Talk September 15, 2020

Well that was short lived.

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Honored Advisor

Re: Floor Talk September 15, 2020

Mike any personal thoughts on our former ambassador to Chinas resignation?  We’re there reasons that can be publicly discussed. ( not trying to tempt as too much- I’m sure he has sources that have not a clue)

did you get a personal interview?

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