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Veteran Contributor

Floor Talk September 6

At the close:

At the close, the Dec. corn futures settled 1 3/4¢ lower at $3.26, while March futures finished 1/4¢ higher at $3.38 3/4 per bushel. Nov. soybean futures finished 7 1/4¢ higher at $9.59, while Jan. soybean futures settled 7 3/4¢ higher at $9.63 1/2. Dec. wheat futures closed 3/4¢ lower at $3.98. Dec. soymeal futures ended $2.70 short ton higher at $310.10. Dec. soyoil futures closed $0.09 higher at 33.13¢ per pound.  In the outside markets, the Brent crude oil market is $0.24 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 29 points higher.

 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are 2 1/4¢ lower at $3.26, while March futures are 2 1/4¢ lower at $3.36 per bushel. Nov. soybean futures are 7 3/4¢ higher at $9.60, while Jan. soybean futures are 8¢ higher at $9.63. Dec. wheat futures are 3¢ lower at $3.96. Dec. soymeal futures are $1.80 short ton higher at $309.20. Dec. soyoil futures are $0.32 higher at 33.36¢ per pound.  In the outside markets, the Brent crude oil market is $0.06 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 17 points higher.

 

Mike

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At 9:30am:

In early trading, the Dec. corn futures are 3/4¢ higher at $3.29, while Dec. futures are 1/2¢ higher at $3.39 per bushel. Nov. soybean futures are 10 3/4¢ higher at $9.63, while Jan. soybean futures are 10 3/4¢ higher at $9.66. Dec. wheat futures are 2 3/4¢ higher at $4.02. Dec. soymeal futures are $3.20 short ton higher at $310.60. Dec. soyoil futures are $0.39 higher at 33.43¢ per pound.  In the outside markets, the Brent crude oil market is $0.08 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 25 points lower.

 

DeAnne Hawthorne-Lahre, co-founder of StatFutures, says the soybean market is building in weather premium from Brazil.
“There is a bit of chatter around about some cold weather moving into the U.S. Midwest. Trade volume cntinues to be solid. But, the market is also looking at weather forecasts that keep Brazil dry for the moment. So, the bean market is putting on a bit of a bounce,” Hawthorne-Lahre says.
Corn and wheat continue to be an anchor, she says.

 

 

Mike

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At the open:

At the open, the Sep. corn futures are 3 1/2¢ lower at $3.13, while Dec. futures are 4¢ lower at $3.24 per bushel. Sep. soybean futures are 3¢ lower at $9.65, while Nov. soybean futures are 5¢ lower at $9.47. Sept. wheat futures are 3 1/2¢ lower at $3.69. Sep. soymeal futures are $1.80 short ton lower at $311.90. Sept. soyoil futures are $0.16 higher at 32.82¢ per pound.  In the outside markets, the Brent crude oil market is $0.36 per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 46 points higher.

 

Mike

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Prices declined overnight as more estimates for record yields come in. INTL FCStone raised its forecasts for yield and production on Friday, and the CFTC report showed investors are the most bearish corn they've been in almost four months. The weather maps are showing some strong storms are expected to hit South Dakota, Minnesota and Wisconsin the next two days, which could cause flooding. 

 

Here's what happened overnight:

 

Brent Crude Oil = 0.4% lower.
West Texas Intermediate Crude Oil = 1.2% higher.

Dollar = down 0.3%.

Wall Street = U.S. stock futures slightly higher in overnight trading. 
World Markets = Global stocks lower amid declining dollar.

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5 Replies
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Honored Advisor

Re: Floor Talk September 6

 

 

 " Just disced/bush hogged a 1/3 of my soybean crop, this weekend. 3 weeks of rain in late July and August resulted in 50+% damage and mold. Totally unmarketable"

 

This quote from a farmer in northern Louisiana

 

How much of this is happening in northern Louisiana and southern Arkansas?

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Veteran Advisor

Re: Floor Talk September 6

I know the amount wouldn't affect production enough to matter, but does anyone know how many acres the Dakota pipeline is taking out of production for this fall's harvest?  Just would be an interesting fact.

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Honored Advisor

Re: Floor Talk September 6

The only hope is we`ll have a "crop insurance" rally  Smiley Happy   If the bear experts are correct about harvest prices, the insurance co.s will have some RA check to write.

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Veteran Advisor

Re: Floor Talk September 6

The final permanent easement will be 50 feet wide. Additionally, for construction, we are requesting 25 to 50 feet of temporary work space in forested areas and wetlands, and up to additional 100 feet for temporary work space on agricultural land. Dakota Access may require additional temporary workspace in certain areas, such as at road, railroad or stream crossings, to accommodate specific construction activities.
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Senior Contributor

Re: Floor Talk September 6

Right now protestors are probably sitting on more land then the pipeline has taken out of productionSmiley Wink
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