09-16-2013 07:29 AM - edited 09-16-2013 05:58 PM
Soybeans drop 32 cents.
After the close:
United Soybean Board released this statement Monday: "As China’s appetite for soy products continues to grow, it’s leaning on U.S. soybean farmers to help meet demand – in one recent case, to the tune of $2.8 billion.
During the recent U.S. Soy Global Trade Exchange, Chinese agricultural leaders signed agreements to buy approximately $2.8 billion worth of U.S. soy. The delegation signed 13 contracts with U.S. exporters."
At the close:
The Dec. corn futures contract closed 2 1/2 cents lower at $4.56. The Nov. soybean futures contract settled 33 cents lower at $13.48. Dec. wheat futures finished 1/4 of a cent lower at $6.41 per bushel. The Dec. soymeal futures settled $14.30 per short ton lower at $428.50. The Dec. soyoil futures closed $0.19 lower at $42.37.
In the outside markets, the NYMEX crude oil is $1.27 per barrel lower, the dollar is higher and the Dow Jones Industrials are 133 points higher.
One analyst says, "The market suffered a price break, as ample weekend rains and more rain this week broke the beans, with other grains in tow. Beans still have about 8% of crop maturing. A little short covering late, ahead of the FSA report in the morning that should show the acres unplanted," he says.
At the open:
The Dec. corn futures contract is trading 1/4 of a cent lower at $4.58. The Nov. soybean futures contract is trading 15 cents lower at $13.65. Dec. wheat futures are trading 1/4 of a cent higher at $6.41 per bushel. The Dec. soymeal futures are trading $6.30 per short ton lower at $436.50. The Dec. soyoil futures are trading $0.11 lower at $42.45.
In the outside markets, the NYMEX crude oil is $1.90 per barrel lower, the dollar is higher and the Dow Jones Industrials are 141 points higher.
Early calls: Corn is seen 1-2 cents higher, soybeans 12-14 cents lower, and wheat 1-2 cents higher.
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$1.55 per barrel lower.
Wall Street=Seen trading higher.
World Markets=Asia/Pacific stocks were higher, Europe stocks higher.
More in a minute,
09-16-2013 11:35 AM
As long as the beans have green in them it will help....but time is running out for the amount of help. Mine my gain a little weight maybe 1 or 2%
Lucius Annaeus Seneca
As civil rulers, not having their duty to the people duly before them, may attempt to tyrannize, and as the military forces which must be occasionally raised to defend our country, might pervert their power to the injury of their fellow-citizens, the people are confirmed by the next article in their right to keep and bear their private arms.
— Tench Coxe (1755–1824)