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Floor Talk September 17, 2020
At the close:
At the close, the Dec. corn futures finished 3 1/2¢ higher at $3.84. March corn futures ended 3¢ higher at $3.84.
Nov. soybean futures closed 17 1/4¢ higher at $10.28 1/2. January soybean futures closed 16¢ higher at $10.31 1/4.
Dec. wheat futures finished 14 1/4¢ higher at $5.56 1/4.
Dec. soymeal futures ended $9.60 per short ton higher at $335.30. Dec. soy oil futures closed $0.05 cent lower at 34.86¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.90 per barrel higher at $41.06. The U.S. dollar is lower, and the Dow Jones Industrials are 177 points lower.
Mike
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At midsession:
At midsession, the Dec. corn futures are 2¢ higher at $3.73 1/4. March corn futures are 1 1/2¢ higher at $3.82 1/2.
Nov. soybean futures are 10¢ higher at $10.21. January soybean futures are 9 3/4¢ higher at $10.25.
Dec. wheat futures are 4¢ higher at $5.46.
Dec. soymeal futures are $5.90 per short ton higher at $331.60. Dec. soy oil futures are $0.08 cent lower at 34.83¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.76 per barrel lower at $40.92. The U.S. dollar is lower, and the Dow Jones Industrials are 91 points lower.
Mike
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At 8:45am:
Story here: Ag markets cool off, Thursday.
What say you?
Mike
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Re: Floor Talk September 17, 2020
@ 10:30 looks like you might have written the headline a tad too soon?
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Re: Floor Talk September 17, 2020
Yep, it happens.
Mike
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Re: What do I say, .....
What do I say? $10.30 gets us pretty much back to where we were three years ago, only a lot poorer, with precious little to show for it.
Otherwise, isn't it interesting that $40 seems to be the magic number for a barrel of oil. A while back somebody said that $40 is the breakeven for frack oil. I guess farmers aren't the only ones willing to work for nothing.
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Re: What do I say, .....
Old guy (Noted colorful local eccentric) told me long, long ago when I was probably too young, optimistic and ready to beat the world so that I had no frame of reference that we’ve been headed forever towards the eventual point where the contribution of the farmer would be just one more entry on a ledger under “costs of production0.
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Re: As for the "farmer's contribution", ...
As for the "farmer's contribution", the word "gratuitous " comes to mind.
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Re: What do I say, .....
Who said “ corn prices will be forever more tied to oil”?