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Veteran Advisor

Floor Talk September 24, 2020

At the close:

At the close, the Dec. corn futures finished 5¢ lower at $3.63 1/2. March corn futures ended 5 1/4¢ lower at $3.72.

Nov. soybean futures settled 14 1/2¢ lower at $10.00 3/4. January soybean futures finished 15 3/4¢ lower at $10.03.

Dec. wheat futures closed 3/4¢ higher at $5.49 1/2.


Dec. soymeal futures closed $8.10 per short ton lower at $336.50.

 Dec. soy oil futures finished $0.39 cent lower at 32.41¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.26 per barrel higher at $40.19. The U.S. dollar is lower, and the Dow Jones Industrials are 53 points higher.

 

Mike

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At midsession:

At midsession, the Dec. corn futures are 4¢ lower at $3.63 1/2. March corn futures are 5¢ lower at $3.72.

Nov. soybean futures are 14 3/4¢ lower at $9.99 3/4. January soybean futures are 15 3/4¢ lower at $10.03.

Dec. wheat futures are 2 1/2¢ lower at $5.46 1/2.


Dec. soymeal futures are $7.90 per short ton lower at $336.70.

 Dec. soy oil futures are $0.35 cent lower at 32.45¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.10 per barrel lower at $39.83. The U.S. dollar is lower, and the Dow Jones Industrials are 134 points higher.

 

Mike

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At 8:45am:

See Thursday's market prices, Weekly Export Sales numbers, and analysts thoughts.

Harvest pressure sinks soybeans by double-digits Thursday.

 

 

What say you?

 

Mike

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6 Replies
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Advisor

Re: Floor Talk September 24, 2020

Take back every penny. Only took three days to wipe out two months of gains.  Croooks

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Veteran Contributor

Re: Floor Talk September 24, 2020

You idiots controlling our prices are so damn stupid 


@marketeye wrote:

At 8:45am:

See Thursday's market prices, Weekly Export Sales numbers, and analysts thoughts.

Harvest pressure sinks soybeans by double-digits Thursday.

 

 

What say you?

 

Mike



@marketeye wrote:

At 8:45am:

See Thursday's market prices, Weekly Export Sales numbers, and analysts thoughts.

Harvest pressure sinks soybeans by double-digits Thursday.

 

 

What say you?

 

Mike


 

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Senior Advisor

Re: Harvest pressure, huh?

Harvest pressure, huh?  Well, I guess that suggests that the "trade" took a look at early yields and decided there'll be enough beans after all.

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Senior Contributor

Re: Floor Talk September 24, 2020

I think your time configuration is a little OFF Illinois farmer. Right now we are still $0.32 above September 4th 2020 pricing for fall delivery 

This Market has given us a opportunity to take some cookies in the past month. I for one have taken advantage of it. Went from 35% sold to 70% sold.

I would have never thought that we would have had a opportunity to sell $10 plus beans off the combine the 45 days ago.

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Advisor

Re: Floor Talk September 24, 2020

Nobody is debating the time frame I posted it sarcastically.  However with very little support other than profit taking traders it’s a joke.  Take a look back 4 years if it helps support your argument. Not the point at hand at all.  Without market regulations this will and is continuing to happen.  Exports flying off the shelves, lower yields, and weather damage are all positive market points. These traders just can’t stand it if they’re not getting theirs.  Same wake up call same post as 20 years ago it’s a joke.  Hopefully more and more are waking up to the suppression of the (rich) con artists.

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Honored Advisor

Re: Floor Talk September 24, 2020

A cheap grain reserve was no fun either. Governments strategy decades back— depressed markets that didn’t move 15 cents in a year.  Problem is that was planned. This seems like aimless wandering by ignorant legislators- soccer moms with credit cards—and no experience in anything considered job preparation.  Which does create volatility.  

Yesterday at the local coop elevator— another first for an older farmer.  Corn sold for 3.88 per bushel.   Grain sorghum sold for $4.28 per bushel.  

These days 92% of the US producers and usda won’t have a clue what the feed value ratio of those two is.  And the Ag press will think it is the gmo ratio that matters— we have bred an urban fool class that deserves what it gets. 

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