07-26-2012 05:50 AM - edited 07-26-2012 03:20 PM
At the close:
The Sep. corn futures closed 13 1/4 cents lower at $7.81 1/4, while the Dec. contract settled 11 3/4 cents lower at $7.76 1/4. The August soybean contract finished 38 1/2 cents lower $16.55 3/4, Nov. futures closed 48 cents lower at $15.67. The Sep. wheat futures finished 19 1/4 cents lower at $8.84. Aug. soyoil futures settled $0.56 lower at $51.68. The Aug. soymeal futures finished $11.00 lower at $518.80.
In the outside markets, the NYMEX crude oil is $0.55 per barrel higher, the dollar is lower and the Dow Jones Industrials are 211 points higher.
The Sep. corn futures trade 8 1/4 cents lower at $7.86 1/4, while the Dec. contract trades 6 1/4 cents lower at $7.81 3/4. The August soybean contract is trading 12 1/2 cents lower $16.81 3/4, Nov. futures are down 22 1/2 cents at $15.93. The Sep. wheat futures are trading 16 cents lower at $8.87 1/4. Aug. soyoil futures trade $0.41 lower at $51.83. The Aug. soymeal futures are trading $1.60 lower at $528.20.
In the outside markets, the NYMEX crude oil is $0.44 per barrel higher, the dollar is lower and the Dow Jones Industrials are 177 points higher.
The markets are still trading lower. On the Dow Jones Newswire, this headline ran just moments ago:
Bunge CEO: U.S. Will Have Limited Grain Export Ability by 1st Quarter 2013
If that is so, who will provide the world with the needed grain supply? The well is running dry? It seems a lot more questions are building than answers.
At the open:
The Sep. corn futures opened 5 cents lower at $7.89 1/2, while the Dec. contract trades 3 3/4 cents lower at $7.84 1/4. The August soybean contract is trading 17 cents lower $16.77, Nov. futures are down 25 1/4 at $15.90. The Sep. wheat futures opened 8 cents lower at $8.95 1/4. Aug. soyoil futures trade $0.51 lower at $51.73. The Aug. soymeal futures opened $0.80 lower at $529.00.
In the outside markets, the NYMEX crude oil is $0.96 per barrel higher, the dollar is lower and the Dow Jones Industrials are 172 points higher.
A South Korea buyer passed on U.S. wheat and corn tenders, the Dow Jones Newswire story indicates Thursday.
USDA's Weekly Export Sales were positive for the bean market, very negative for corn:
Corn= -140,400 mt vs. the trade's expectation of between 100,000-300,000 mt.
Soybeans= 710,500 mt vs. the trade's expectations of 300,000-600,000 mt.
Wheat= 367,000 mt vs. the trade's expectation of 300,000-600,000 metric tons.
Soybean meal= 257,000 vs. the trade's expectation of between 75,000-200,000 metric tons.
I'll have to say, I've never seen all corn exports canceled out in one report. There are no export sales from this past week? What?
Early calls: Corn 3-5 cents lower, soybeans 18-20 cents lower, and wheat 6-9 cents lower. Weekly Export Sales will be released at 7:30am CT.
Overnight grain, soybean markets=Trading lower.
Crude Oil=$0.84 per barrel lower.
Wall Street=Seen opening mixed, ahead of more earnings reports.
World=Asia/Pacific markets trade mostly mixed-to-higher, Europe stocksare mixed-to-mostly lower.
More in a minute,
07-26-2012 06:08 AM
Well, well, well, lookee here. According to the Freese-Notis Weather Inc. radar, there is plenty of rain in the Midwest, this morning:
How much is reaching the ground is the next question. I hope everybody that needs it is getting it.
07-26-2012 06:37 AM
My thoughts exactly. It kind of looks like the clouds are starting to break up. I've been here about three weeks. I'll say the grass is greener than when I arrived, but not by much. It was 106-degrees yesterday. That will burn some things up.
07-26-2012 07:06 AM
From the numbers you posted on the other thread concerning yield counts I did a dirty average and I know it doesn't represent the whole nation but if it di indiana would have a state yield of 59 bu. and Illinois about 112. Looks like a 85 bu. national average from those numbers!