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Veteran Advisor

Floor Talk, September 24, 2019

At the close:

At the close, the Dec. corn futures finished 1 1/4¢ higher at $3.74 1/2. March corn futures ended 1 1/4¢ higher at $3.85 1/2.

Nov. soybean futures finished 1 3/4¢ higher at $8.94 3/4. Jan. soybean futures are 1 1/4¢ higher at $9.07 1/2.

Dec. wheat futures settled 1 3/4¢ lower at $4.81 1/4.



December soymeal futures closed $0.90 per short ton higher at $299.50.

 December soy oil futures closed $0.02 higher at 29.33¢ per pound.



In the outside markets, the NYMEX crude oil market is $1.33 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 152 points lower.

 

Mike

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At midsession:

 

At midsession, the Dec. corn futures are 1 1/4¢ higher at $3.74 1/2. March corn futures are 1 1/4¢ higher at $3.85 1/2.

Nov. soybean futures are 4 3/4¢ higher at $8.96 3/4. Jan. soybean futures are 4 1/4¢ higher at $9.10 1/2.

Dec. wheat futures are 1 3/4¢ lower at $4.81 1/4.



December soymeal futures are $2.60 per short ton higher at $301.20.

 December soy oil futures are $0.04 lower at 29.27¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.83 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 8 points lower.

Mike

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At 9:41am:

In early trading, the Dec. corn futures are 2 1/2¢ higher at $3.71. March corn futures are 2¢ higher at $3.82.

Nov. soybean futures are 4 3/4¢ higher at $8.97 3/4. Jan. soybean futures are 4 3/4¢ higher at $9.10 1/2.

Dec. wheat futures are 4¢ lower at $4.79.



December soymeal futures are $3.10 per short ton higher at $301.70.

 December soy oil futures are $0.10 lower at 29.21¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.54 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 92 points higher.

On Tuesday, private exporters reported to the U.S. Department of Agriculture export sales of 200,000 metric tons of corn for delivery to Mexico during the 2019/2020 marketing year.

The marketing year for corn began Sept. 1.

Al Kluis, Kluis Advisors, says that investors will be tracking the soybean market’s performance.

“When soybeans close higher in the month of September--which has happened only about 20% of the time in the last 30 years--it signals higher soybean prices in the month of October.,” Kluis told customers in a daily note.

Kluis added, “Monday, China bought soybeans again, which rallied the soybean market. This helped pull the corn market higher as well. Spring wheat was higher on quality concerns and on fund short-covering,” Kluis stated.

 

Mike

 

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