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Veteran Contributor
Posts: 550
Registered: ‎09-09-2014
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Floor Talk September 25

[ Edited ]

At the close:

At the close, the Dec. corn futures finished unchanged at $3.53 1/2, while March futures finished 1/2¢ higher at $3.66. Nov. soybean futures ended 13¢ lower at $9.71 1/4, Jan. soybean futures settled 12 3/4¢ lower $9.81 3/4. September wheat futures closed 4 1/2¢ higher at $4.54. Dec. soy meal futures closed $4.70 per short ton lower at $314.30. Dec. soy oil futures closed $0.21 lower at 34.01¢ per pound.  In the outside markets, the Brent crude oil market is $1.60 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 69 points lower.

 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are 1 1/4¢ lower at $3.52, while March futures are 1 1/4¢ lower at $3.64. Nov. soybean futures are 12¢ lower at $9.72, Jan. soybean futures are 11 1/2¢ lower $9.83. September wheat futures are 2 1/2¢ higher at $4.52. Dec. soy meal futures are $4.50 per short ton lower at $314.50. Dec. soy oil futures are $0.16 lower at 34.06¢ per pound.  In the outside markets, the Brent crude oil market is $1.05 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 91 points lower.

 

Mike

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At 9:00am:

In early trading , the Dec. corn futures are unchanged at $3.53, while March futures are unchanged at $3.66. Nov. soybean futures are 6 1/2¢ lower at $9.77, Jan. soybean futures are 6 1/2¢ lower $9.88. September wheat futures are 2¢ higher at $4.51. Dec. soy meal futures are $2.40 per short ton lower at $316.60. Dec. soy oil futures are $0.21 lower at 34.01¢ per pound.  In the outside markets, the Brent crude oil market is $0.71 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 17 points lower.

 

Mike

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Soybeans and corn were lower overnight to start the week despite poor yields reported in Kansas. Traders know carryout is on the rise, and that's going to make it hard to put a bid in grains. Advisers have been saying that we'll see sales on price jumps and so far they've been right. Beans were down about 5 cents, corn lost about 2 cents and wheat was down 4-5 cents. The dollar, which is up 0.4% this morning, isn't helping. Not much has changed fundamentally -- the harvest rolls on and it's hot in much of the Corn Belt. Down here we call that `fall' but it's always hot in Central Texas. Money managers last week pushed their soybean bets into positive territory while boosting bets against corn prices -- they just don't seem to like corn right now. Get all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-september-25.

 

Here's what happened overnight:

 

Brent Crude Oil = up 1.6%

West Texas Intermediate = up 0.9%

Dollar = up 0.4%.

Wall Street = U.S. stock futures lower in pre-bell trading.

World Markets = Global stocks lower after German elections.

Esteemed Advisor
Posts: 2,496
Registered: ‎04-29-2011
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Re: Floor Talk September 25

Traders don't know that the carryovers are on the rise.   They have been told they are going to rise.   Big difference folks.

Veteran Advisor
Posts: 1,039
Registered: ‎10-18-2016
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Re: Floor Talk September 25

You have to trade the numbers you believe in.

Esteemed Advisor
Posts: 2,496
Registered: ‎04-29-2011
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Re: Floor Talk September 25

Nope......you only have to trade USDA's numbers.  Haven't you been paying attention?  Smiley Surprised

Advisor
Posts: 1,406
Registered: ‎06-25-2010
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Re: Floor Talk September 25

[ Edited ]

USDA is not perfect and unfortunately the USDA is dealing the cards and we choose to play.   If we decided to trade someone's backyard then  which one do we choose?  Yours, Iowa's, Illinois', Kansas,. ....etc. ?   

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Contributor
Posts: 25
Registered: ‎05-18-2010
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Re: Floor Talk September 25

I must say, the USDA is probably closer than many of us are going to like, but I can't help but wonder if cbot are trading the 'backyards' of the garden spots. I don't hear the Ag media running stories about sub trend areas. The headlines are always 'Better than expected', 'Monitor shows 300', etc etc. well I can attest to the fact that our 'backyard' is way worse than we had hoped. I'm not saying cbot needs to trade my backyard, it's just annoying that there is NEVER any coverage of those areas. I've always thought Ag media was more 'fair and balanced' but it does seem they are going the way of mainstream media in their craving for sensational only coverage. We are 400 acres into bean harvest and have been disappointed in every. single. farm. I'm not talking nonsense like 'we hoped for 60 and got 57'. I'm talking waist high beans loaded with pods that look like 60 but they're coming off at 42 and 44. And beans that look like 45 and they're coming off at 37.
Veteran Advisor
Posts: 1,039
Registered: ‎10-18-2016
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Re: Floor Talk September 25

Neighbor took out 200 acres of soybeans "mid '50's".  Decent for the dry weather.  Not bad in a good year, pretty good in this year.