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Senior Contributor

From the floor December 8

At the close:

The March corn futures settled 12 3/4 cents higher at $5.74 1/2. The Jan. soybean contract closed 10 1/2 cents higher at $12.96. The March wheat futures ended  3/4 of a cent lower at $7.84. The Jan soymeal futures settled $2.80 per short ton higher at $347.10. The Jan soyoil futures closed $0.38 higher at $54.18.

 

In the outside markets, the NYMEX crude oil is $0.33 per barrel lower, the dollar is even, and the Dow Jones Industrials are up 5 points.

 

Mike

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At mid-session:
At mid-session, the March corn futures are 12 cents higher at $5.73 3/4. The Jan. soybean contract is 8 1/2 cents higher at $12.94. The March wheat futures are 6 3/4 cents higher at $7.91 1/2. The Jan soymeal futures are $3.50 per short ton higher at $347.00. The Jan soyoil futures are 6 points higher at $53.86.

 

In the outside markets, the NYMEX crude oil is $0.23 per barrel lower, the dollar is higher, and the Dow Jones Industrials are up 5 points.

 

One analyst says, "We started off lower in sympathy with lower crude oil, stocks and metals while the dollar was higher but we turned up on two fronts. One, traders want to buy any dips in prices this week getting positioned ahead of what's guessed to be a bullish crop report Friday. Two, the weekly ethanol report showed a 6.1 % jump in production last week, to 939,000 barrels a day, according to the Energy Department."

Mike

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At the open:

The March corn futures opened 4 1/4 cents loweer at $5.57 1/2. The Jan. soybean contract opened 14 cents lower at $12.71. The March wheat futures opened 3 3/4 cents lower at $7.81. The Jan soymeal futures opened $4.30 per short ton lower at $340.00. The Jan soyoil futures opened 47 points lower at $53.33.


In the outside markets, the NYMEX crude oil is $0.50 per barrel lower, the dollar is higher, and the Dow Jones Industrials are down 13 points.


Mike

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At 7am:

Early calls: Corn down 3-5 cents, soybeans 8-10 lower and wheat down 8-10 cents.


Trackers:

Overnight grain markets=Trading lower.

Crude Oil=$0.63 lower.

Dollar=Higher.

Wall Street=Seen trading lower. In fact, because it can't break through resistance levels, unable to make new highs, traders are worried a slide is coming.

World  Markets=Mixed.


 

More in a minute,

 

Mike

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2 Replies
Veteran Advisor

Re: From the floor December 8

Why so much ethol?  JR

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Senior Contributor

Re: From the floor December 8

Ethanol is a lot cheaper than gas....... The blenders are making a lot of $$$$$ selling ethanol that cost them $2.10 a gal to buy more or less...... p-oed

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