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marketeye
Veteran Advisor

Floor Talk September 25

ALL NEW: Here is the link for you to sign up for the brand new marketing newsletter provided by Successful Farming.

 

The Successful Marketing Newsletter at www.Agriculture.com/deal

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At the close:

At the close, the Dec. corn futures settled 7 1/2 cents higher at $3.89.  Nov. soybean futures closed 21 1/2 cents higher at $8.89 1/4.

Dec. wheat futures finished 10 1/2 cents higher at $5.07 3/4.

Dec. soymeal futures closed $6.30 per short ton higher at $308.20. Dec. soyoil futures ended $0.73 higher at $27.91. 

In the outside markets, the Brent Crude oil market is $0.63 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 109 points higher.

Mike

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At mid-session:

At mid-session, the Dec. corn futures are trading 5 cents higher at $3.86.  Nov. soybean futures are trading 17 cents higher at $8.85.

Dec. wheat futures are 10 cents higher at $5.07.

Dec. soymeal futures are trading $4.90 per short ton higher at $306.80. Dec. soyoil futures are trading $0.75 higher at $27.93. 

In the outside markets, the Brent Crude oil market is $0.54 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 255 points higher.

Matt Pierce, Futures International LLC, and grain floor trader, says multiple things are helping the rally. "I like wheat into month-end, with short-covering. It followed same pattern into Q2 end. Look at move from 6/22-6/30.

Corn is a follower losing versus wheat but showing strength on some early lower than expected yield talk. nothing serious but enough to spark a bit of buying.
Beans are helped by Brazilian real value strengthening, early yields disappointing from a protein standpoint and continued demand out of the Gulf.
I do not see extended upside potential in corn and beans due to long fund positions into month end. If wheat follows the same pattern as end Q2 then this market has the best legs."

Mike

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At the open:

At the open, the Dec. corn futures are trading 2 cents higher at $3.83.  Nov. soybean futures are trading 7 cents higher at $8.75.

Dec. wheat futures are 4 cents higher at $5.01.

Dec. soymeal futures are trading $1.80 per short ton lwer at $303.80. Dec. soyoil futures are trading $0.62 higher at $27.81. 

In the outside markets, the Brent Crude oil market is $0.19 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 187 points higher.

Mike

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At 7:15am:

 

Early calls: Corn 2-4 cents higher, soybeans 9-10 cents higher and wheat 3-5 cents higher.

 

Trackers:
Overnight grain, soybean markets = Trading higher.
Brent Crude Oil = $0.06 higher.
Dollar =Higher.  
Wall Street = Seen higher, as investors react to Fed Chairman Janet Yellen's speech.

World Markets = Europe stocks were higher, Asia/Pacific stocks were higher.

 

 

 

More in a minute,

 

Mike

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3 Replies
marketeye
Veteran Advisor

Re: Floor Talk September 25

CME Group, the world's leading and most diverse derivatives marketplace, today announced the first trades of its new Fertilizer futures contracts on CME Europe, CME Group's European exchange. The contract traded for the first time on Monday, 21 September 2015.

The trade comprised of 200 lots of the December 2015 Urea (Granular) FOB Middle East futures contact, and was brokered by Freight Investor Services in London for corporate clients.

CME Group has developed a suite of financial-settled fertilizer futures for its European exchange, including products for the Chinese and Middle Eastern Urea markets. These products are available on CME ClearPort and CME Globex and sit alongside other agricultural products on the exchange, including Cocoa futures and options. The contracts are cleared through CME Clearing Europe, CME Group's dedicated European clearing house.

"Our fertilizer contracts offer new risk transfer and price management tools for the volatile global fertilizer markets, and it's great to see market participants start to adopt these contracts to manage their risk," said Jeffry Kuijpers, Executive Director, Agricultural Commodities & Alternative Investments, CME Group. "These contracts build on CME Group's expertise in developing agricultural products, including our existing suite of fertilizer swaps. Customers who use these contracts will be eligible for capital efficiencies and margin offsets through clearing services on CME Clearing Europe."

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lsc76cat
Senior Advisor

Re: Floor Talk September 25

Let's see how this works out:

Gasoline futures are trading in the $1.30 - $1.40 range and we pay over $2.20 at the pump.

Corn is trading in the $3.80's and local cash price is in the $3.30's.

I wonder which side of the fertilizer "market" price we'll be on?

 

marketeye
Veteran Advisor

Re: Floor Talk September 25

If you missed it Friday:

 

 

Private exporters reported to the U.S. Department of Agriculture export sales of 260,000 metric tons of soybeans for delivery to China during the 2015/2016 marketing year.

The marketing year for soybeans began Sept. 1

 

 

Mike

 

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