09-25-2012 06:13 AM - edited 09-25-2012 02:32 PM
At the close:
The Dec. futures corn contract closed 1 cent lower at $7.43. Nov. soybean futures contract settled 1 1/2 cents higher at $16.11. Dec. wheat futures settled 5 1/2 cents lower at $8.86 1/2 per bushel. The Dec. soyoil futures contract finished $0.64 lower at $53.53. The Dec. soymeal futures contract finished $3.90 per short ton higher at $488.10.
In the outside markets, the NYMEX crude oil is $.44 per barrel lower, the dollar is higher and the Dow Jones Industrials are 67 points lower.
The Dec. futures corn contract is trading 4 cents lower at $7.40. Nov. soybean futures contract is trading 2 3/4 cents lower at $16.07. Dec. wheat futures are trading 7 3/4 cents lower at $8.84 per bushel. The Dec. soyoil futures contract is trading $0.57 lower at $53.60. The Dec. soymeal futures contract is trading $1.50 per short ton higher at $485.70.
In the outside markets, the NYMEX crude oil is $.42 per barrel higher, the dollar is lower and the Dow Jones Industrials are 21 points lower.
At the open:
The Dec. futures corn contract is trading 1/2 of a cent higher at $7.44. Nov. soybean futures contract is trading 4 1/2 cents higher at $16.14. Dec. wheat futures are trading 3/4 of a cent lower at $8.91 per bushel. The Dec. soyoil futures contract is trading $0.01 higher at $53.75. The Dec. soymeal futures contract is trading $3.50 per short ton higher at $487.50.
In the outside markets, the NYMEX crude oil is $0.43 per barrel higher, the dollar is higher and the Dow Jones Industrials are 38 points higher.
--South Korea bought 120,000 tons of optional-origin corn from Bunge Tuesday. Just yesterday, ta South Korean buyer picked up 60,000 metric tons of corn of optional-origin.
The Asian buyers are still wanting more corn than wheat, right now. Corn is cheaper on the world stage.
Early calls: Corn 1-2 cents lower, soybeans 9-10 cents higher, and wheat 2-4 cents lower.
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.43 per barrel higher.
Wall Street=Seen opening steady, ahead of housing data and other U.S. economic reports.
More in a minute,
09-25-2012 06:19 AM
One analyst sees the funds re-entering the commodities market next week, the start of the 4th fiscal quarter. And, since harvest is speeding along, a harvest low could hit in early October.
Do you feel the same about the markets rallying in October?
Thanks for sharing,
09-25-2012 06:22 AM
This morning, it looks like soils are being replenished for the southern Corn Belt areas. Of course, this is where a lot of wheat is apparently being planted too. Will this rain delay wheat planting? Here's the latest look at the Freese-Notis Weather Radar:
09-25-2012 07:15 AM
It appears we could get "4 or 5" inches in Northeast Nebraska and 24 hours after the event work would resume - we have ground fractures of one to two inches in places due to the drought - --having traveled to Great Bend Kansas during labor day weekend it appears 90% of the 325 mile trip have similar conditions --- glad to see someone is getting precipt although we are far from drought relief with a one or two shower event ---
09-25-2012 07:19 AM
Thats what I'm thinking as well. And I've heard that there is a lot of corn being sold across the scale. Which I think is way the market has taken a hit. Farmers didn't forward contract as much as they had in the past and are needing money.
09-25-2012 07:22 AM
09-25-2012 07:29 AM
I'm not going to say much, other than stay tuned for Successful Farming's Mid-November Marketing Issue. You might be surprised about some folks' thoughts on the longterm weather outlook.
09-25-2012 08:54 AM
Listened to Al Dutcher on UNL -Market Journal and didn't seem to optomistic for precip the next 60 days - if he was ever wrong I hope it's now--- cattle roughage in " EXTREME " short supply and continued herd liquidation will surely continue ---