cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Veteran Advisor

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

----------

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

------------

At 8:45am:

 

Story here: Ag markets cool off, Thursday.

 

What say you?

 

Mike

 

0 Kudos
6 Replies
Highlighted
Honored Advisor

Re: Floor Talk September 17, 2020

@ 10:30 looks like you might have written the headline a tad too soon?

0 Kudos
Highlighted
Veteran Advisor

Re: Floor Talk September 17, 2020

Yep, it happens.

 

Mike

0 Kudos
Highlighted
Senior Advisor

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.

0 Kudos
Highlighted
Advisor

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.

0 Kudos
Highlighted
Senior Advisor

Re: As for the "farmer's contribution", ...

As for the "farmer's contribution", the word "gratuitous " comes to mind.

0 Kudos
Highlighted
Honored Advisor

Re: What do I say, .....

Who said “ corn prices will be forever more tied to oil”?   

0 Kudos