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Quotes retrieved on November 16, 2019, 07:01:41 PM CST



SLC Commentary

Stateline Evening Comments November 15th 2019

Corn: North Burt down 4 @ 3.42

  • It was a lack luster day in the corn market, with the December contract losing a nickel and closing on the low of the day. Weakness in the market stems from a lack of fresh news, and export sales that continue to put us behind the pace needed to keep up with USDA estimates. For the week, December corn lost 6 cents.
  • Weekly export sales were 581,600 metric tonnes, which is within estimates of 400,000 to 800,000 metric tonnes.
  • Closes: December at $3.71 ¼ down 4 ½; March at $3.80 ¾ down 4; May at $3.86 ½ down 4 ¼; July at $3.92 ½ down 4.

Soybeans up 2 @ $ 8.33

  • Soybeans traded higher today, drawing strength from positive export sales and a better than expected NOPA crush report. Towards the end of the session, excitement waned but soybeans still managed to have a green close. Meal traded higher today as well, with the December contract closing at $307.10, above its 100-day moving average of $304.50. This was the first close above the 100-day moving average in a month. For the week, January soybeans lost 12 ¾ cents.
  • NOPA’s October crush showed a record high of 175.397 million bushels of soybeans were crushed, above the average trade estimate of 166.795 million bushels. Soy oil stocks were 1.423 billion pounds, slightly above estimates of 1.42 billion.
  • Weekly export sales were 1,253,000 metric tonnes of soybeans, within estimates of 800,000 to 1,400,000 metric tonnes. 760,000 tonnes of the soybean sales went to China, 61% of the weeks sales. Soymeal sales were 345,300 metric tonnes, near the top end of estimates ranging from 100,000 to 350,000 metric tonnes and soyoil sales were 30,600 metric tonnes, above estimates of 5,000 to 25,000 metric tonnes.
  • Closes: January at $9.18 ¼ up 1 ½; March at $9.30 ¾ up 1 ¼; May at $9.42 ¼ up 1; July at $9.52 ½ up 1 ¼.

 



Forecast
Burt, Iowa (50522)
Current Conditions Few Clouds
Temperature 43°F
Dew Point 30°F
Pressure 29.98 in. Hg
Humidity 61%
Wind 12 mph
From South


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