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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
Cracks still in the ground and ponds still low........it all went down.....
We are still 10 to 15 inches below normal......
These clowns that think an epic drought is JUST OVER with a rain cloud need to get a clue......
It appears that this fall is supposed to be warmer than normal........precip not sure.......but its not looking good to get things recharged......
And FYI..........El Nino is dead.......index went neutral and slipped below to La Nina.........
LMAO.............I don't wanna see another year like last in my lifetime........but it is a teachable moment that some failed to learn the first time around.....
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 ---