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marketeye
Veteran Advisor

Floor Talk September 3, 2020

At the close:

At the close, the Dec. corn futures finished 5¢ lower at $3.53 1/4. March corn futures closed 4 1/2¢ lower at $3.64 1/4.

Nov. soybean futures settled 4¢ higher at $9.66. January soybean futures closed 4¢ higher at $9.72 1/4.

Dec. wheat futures closed 5¢ lower at $5.53 1/4.


Dec. soymeal futures finished $2.60 per short ton higher at $312.80.

 Dec. soy oil futures closed $0.24 cent lower at 33.29¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.18 per barrel lower at $41.33. The U.S. dollar is higher, and the Dow Jones Industrials are 913 points lower.

 

Mike

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At midday:

At midday, the Dec. corn futures are 4 1/2¢ lower at $3.54 1/4. March corn futures are 3 3/4¢ lower at $3.65 1/4.

Nov. soybean futures are 1/2¢ higher at $9.62. January soybean futures are 3/4¢ higher at $9.69.

Dec. wheat futures are 6 1/4¢ lower at $5.52.

Dec. soymeal futures are $1.00 per short ton higher at $311.20.

 Dec. soy oil futures are $0.36 cent lower at 33.17¢ per pound.



In the outside markets, the NYMEX crude oil market is $0.07 per barrel lower at $41.44. The U.S. dollar is higher, and the Dow Jones Industrials are 793 points lower.

 

Mike

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At 7:35am:

Separately, the USDA’s Weekly Export Sales Report Thursday shows strong demand figures.

Corn= 2.48 million metric tons vs. the trade’s expectations of between 2.5 mmt-2.6 mmt.

Soybeans= 1.85 million metric tons. vs. trade’s expectations of 1.0 mmt-1.8 mmt.

Wheat= 585,400 mt.

Soybean meal= 342,500 mt.

 

What say you about this morning's corn numbers? Whew!!

 

Mike 

0 Kudos
1 Reply
Hobbyfarmer
Honored Advisor

Re: Floor Talk September 3, 2020

"What say you about this morning's corn numbers? Whew!!"

Good riddance.

 

Got sell it all advice 40¢ ago on corn and 110¢ ago on

beans from "marketing advisory service" on old crop and

new crop. Most were saying "no hope for price

improvement".  I wonder how many jumped on that band

wagon?