Floor Talk September 18, 2020
At the close:
At the close, the Dec. corn futures finished 3 1/4¢ higher at $3.78 1/4. March corn futures closed 3 1/2¢ higher at $3.87 3/4.
Nov. soybean futures ended 15¢ higher at $10.43 1/2. January soybean futures closed 16¢ higher at $10.47.
Dec. wheat futures ended 18 1/4¢ higher at $5.75.
Dec. soymeal futures closed $6.80 per short ton higher at $342.10. Dec. soy oil futures settled $0.28 cent higher at 35.14¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.05 per barrel lower at $40.92. The U.S. dollar is lower, and the Dow Jones Industrials are 278 points lower.
Jason Roose, U.S. Commodities, says that there is plenty of market support to go around.
"Grains continue to find support with active buying on a daily basis from China. Also, the weak dollar and unknown yields have corn approaching 6 month highs and soybeans at two year highs," Roose says.At midsession:
At midsession, the Dec. corn futures are 1 1/4¢ higher at $3.76 1/4. March corn futures are 1 3/4¢ higher at $3.85 3/4.
Nov. soybean futures are 9 1/4¢ higher at $10.37 1/2. January soybean futures are 10 1/2¢ higher at $10.41 1/4.
Dec. wheat futures are 8 1/4¢ higher at $5.64 1/4.
Dec. soymeal futures are $3.80 per short ton higher at $339.10. Dec. soy oil futures are $0.23 cent higher at 35.09¢ per pound.
In the outside markets, the NYMEX crude oil market is $0.32 per barrel higher at $41.29. The U.S. dollar is lower, and the Dow Jones Industrials are 67 points lower.
Soybeans have added 47¢ this week.
Re: Floor Talk September 18, 2020
sw ---nothing good being harvested yet.
Most are working on short water fields and drylands --none of which look good from the start....
Dry land 50-75
short water 130-150 --- water decline be it by lack of reserves or bureaucratic decree are taking their tole on corn bushels in the western high plains.
Later planted irrigated---look better here --- staying green--- not sure what happened to the spider mites who are usually drying the crop down with zeal in early september, but we are staying green better than usual on the stuff that was smaller and did not get hammered by wind on June 7.
There should be some wet corn deliveries that have better yields.... but I have not heard any reports