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Tony_Dreibus
Veteran Contributor

Floor Talk September 27

At midsession:

 

At midsession, the December corn futures are 1 1/4¢ higher at $3.64 1/4. March futures are 1¢ higher at $3.76.

 

November soybean futures are 2 3/4¢ higher at $8.52.  January soybean futures are 2 3/4¢ higher at $8.66.

 

December wheat futures are 3 1/4¢ lower at $5.14.

 

December soymeal futures are 1.30 per short ton higher at $312.20.

 

December soy oil futures are $0.02 higher at 28.81¢ per pound.

 

In the outside markets, the NYMEX crude oil market is $0.52 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 167 points higher.


USDA Weekly Export Sales Report:

 

Corn= 1.72 million metric tons vs. the trade’s expectations of between 950,000-1,300,000 mt.

Soybeans= 872,200 mt. vs. the trade’s expectations of between 600,000-1,000,000 mt

Soybean meal=  659,200 mt. the trade’s expectations of between 100,000-400,000 metric tons.

Wheat= 657,100 mt. the trade’s expectations of between 250,000-500,000 metric tons.

 

Mike

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At 8:55am:

 

In early trading, the December corn futures are 1/2¢ higher at $3.63. March futures are 1/4¢ higher at $3.75.

November soybean futures are 1 1/2¢ higher at $8.51.  January soybean futures are 1 3/4¢ higher at $8.65.

 

December wheat futures are 2 3/4¢ higher at $5.20.

 

December soymeal futures are 1.30 per short ton higher at $312.20.

 

December soy oil futures are $0.01 lower at 28.78¢ per pound.

 

In the outside markets, the NYMEX crude oil market is $0.47 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 37 points higher.

 

 

Mike

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Wheat futures were lower in overnight trading Thursday on signs that winter wheat planting is moving right along. Wheat was down 4-5 cents and corn and beans were each down just over a penny in overnight trading. Ethanol production and stockpiles, meanwhile, both fell week-to-week, according to the Energy Department. Speaking of ethanol, the presidents of the American Petroleum Institute and the American Fuel & Petrochemicals Manufacturers sent a letter to President Trump asking him not to allow a rule that would boost ethanol blending into fuel -- essentially the opposite of what farm and ethanol groups have been sending him. It'll be interesting to see how this plays out as the president has made overtures since taking office to both ethanol producers and oil refiners. In weather news, more rain is expected in Iowa where flooding is already a problem. Check out today's 3 Big Things for all the details. 

West Texas Intermediate = up 1%.

Brent Crude = up 0.6%.

Dollar = up 0.4%.

Wall Street = U.S. stock higher pre-market.

World Markets = Global stocks lower overnight.

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2 Replies
lsc76cat
Veteran Advisor

Re: Floor Talk September 27

If I read the last export report correct - end of year stats for soybeans came within 2000 metric tons of USDA forecast.

Now we have what appears on the surface to be at least 3 countries playing middleman with purchases of soybeans.

 

And all we can muster is a few pennies worth of upward movement in the bean market?

I think I might be with illini on this one!!

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sw363535
Honored Advisor

Re: Floor Talk September 27

Mexico a big corn buyer lately. Where are those anti trump nafta lovers who claimed Mexico would go somewhere else.
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