cancel
Showing results for 
Search instead for 
Did you mean: 
Senior Contributor

Floor Talk from the B-Team, 11/19

Well, at least it's over! Corn ended today 21 cents lower at $5.20 3/4 and beans were 40 1/2 down at $12.01 1/2. Wheat, which was higher most of the day because of some supply worries, ended 3/4 cent lower at $6.44 1/2. 

 

Let's hope Marketeye's return next week gets things back moving in the right direction! Thanks for bearing with me this week!

 

Jeff

____________________

 

Wheat's higher, but corn and soybeans continue to slump in mid-day Friday trading.

 

At mid-day, December corn is 11 cents lower at $5.30 3/4 per bushel, while January soybeans are 24 1/2 lower at $12.17 1/2. December wheat is 5 1/4 cents higher at $6.50 1/2 per bushel, deriving strength from an upswing in demand and a lack of sellers, according to this report.

 

 

So, do you think this is more evidence a top's in? More on that in this discussion.

 

More later...

 

____________________

 

Things have turned lower in early trading: In early trading, December corn is 4 cents lower at $5.37 3/4 per bushel, while January soybeans are 15 1/2 lower at $12.26 1/2. December wheat is 1 3/4 cents lower at $6.43 1/2. 


An interesting couple of discussions are developing here in Marketing Talk, on opposite ends of the outlook spectrum. While some say the market bottom is near, others wonder if the highs are in already. If so, it would be awfully early for that. What do you think? Here are the 2 discussions -- curious to hear your thoughts:

 

- What if the highs are in?

- Grain market bottom 

 

Or, to sort of play devil's advocate, is today's wild volatility being disguised as near-market tops and bottoms?

 

More later...

 

Jeff

____________________

 

Good morning, everybody. So, maybe the seesaw's just sort of going to hover there straight across today, without whipping up and down one way or another? Looks like we may be looking at a fairly uneven, mixed trade today. Early calls are corn 2-4 lower, soybeans 5-8 lower and wheat unchanged to 2 higher.

 

The grains were mixed in overnight electronic trading; as of 6:15 AM CST, December 2010 corn was 3 cents lower at $5.38 3/4 per bushel, while December wheat was 1/4 cent higher at $6.45 1/2. January soybeans were 6 cents lower at $12.36 per bushel.

Maybe the markets are worn out from the last few days' wild trade, so they're going to take it easy today. I'm guessing that won't be exactly what happens! We'll see! 

More later...

Jeff

 

0 Kudos