09-26-2013 05:29 AM - edited 09-26-2013 01:50 PM
At the close:
The Dec. corn futures contract settled 2 cents higher at $4.56. The Nov. soybean futures contract closed 5 cents lower at $13.16. Dec. wheat futures ended 8 cents higher at $6.78 per bushel. The Dec. soymeal futures closed $2.20 per short ton lower at $414.90. The Dec. soyoil futures finished $0.04 lower at $42.05.
In the outside markets, the NYMEX crude oil is $0.22 per barrel lower, the dollar is higher and the Dow Jones Industrials are 19 points higher.
The Dec. corn futures contract is trading 1 1/2 cents lower at $4.53. The Nov. soybean futures contract is 4 1/2 cents lower at $13.17. Dec. wheat futures are trading 5 3/4 cents higher at $6.76 per bushel. The Dec. soymeal futures are trading $1.80 per short ton lower at $415.30. The Dec. soyoil futures are trading $0.11 lower at $41.98.
In the outside markets, the NYMEX crude oil is $0.37 per barrel higher, the dollar is higher and the Dow Jones Industrials are 33 points higher.
Corn is trading unchanged, trying to get into positive territory. Wheat is up 5 cents. Soybeans are down 3 cents.
At the open:
The Dec. corn futures contract opened 2 1/2 cents lower at $4.52. The Nov. soybean futures contract opened 6 cents lower at $13.15. Dec. wheat futures started 1 cent higher at $6.72 per bushel. The Dec. soymeal futures opened $1.80 per short ton lower at $415.30. The Dec. soyoil futures opened $0.24 lower at $41.84.
In the outside markets, the NYMEX crude oil is $0.43 per barrel higher, the dollar is higher and the Dow Jones Industrials are 26 points higher.
USDA released its Weekly Export Sales Thursday:
Corn=640,000 mt vs. the trade's expectations of 400,000-700,000 mt.
Soybeans=2.82 million mt. vs. the trade's expectations of 1,000,000-3,100,000 metric tons.
Wheat=620,200 mt vs. the trade's expectations of 550,000-850,000 metric tons.
USDA pre-Report Previews:
And, here are a few pre-report thoughts from a CME Group floor trader source:
"Little intrigue with the stocks, except for wheat, where we are curious to see if HRW feeding was larger than anticipated. With the large inverse in corn basis, we assume we fed a lot of wheat. It's consumption we can’t ration, as it has already happened. So, if the HRW stocks come in light, below 788 million bushels, then perhaps wheat can stage a larger rally.
Anecdotal field reports on soybeans are sounding better this week. So, that creates a little more confusion into Oct 11 report. I am a soybean bull, but waiting for harvest bear seasonal to abate. I will most likely be long beans going into the Oct 11th report."
Early calls: Corn is seen 1-2 cents lower, soybeans 6-8 cents lower, and wheat 1-2 cents higher.
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.05 per barrel higher.
Wall Street=Seen trading lower on Wal-Mart's poor earnings and the government cliff talk.
World Markets=Asia/Pacific stocks were meandoring to mixed, Europe stocks mixed-to-lower.
More in a minute,
09-26-2013 08:19 AM - edited 09-26-2013 08:31 AM
Mike, What is the largest amount of grain ever reported sold in one week? If beans would have made the 3.1 mark, would that have been a record or not?
09-26-2013 10:05 AM
This image above is from Climatempo, a meteorology service from Brazil. As you may see, the humidity level is better in Mato Grosso, but is still bad in Mato Grosso do Sul and Goiás. Rains occurred in several regions of Mato Grosso in the last two weeks. The weather forecast is predicting more rains in the center-western part of Brazil.
09-26-2013 11:00 AM
The yellow circle includes the following states:
Northeast part of the state of Mato Grosso do Sul, the southwest corner of Gioas, and the western edge of Mineas Mina Gerais.
So, these areas remain hot and dry?
09-26-2013 11:44 AM - edited 09-26-2013 11:45 AM
SA will need some rain...and we thought midwest had become dry...these are both - last 3 months - from Univ. College London - Global drought monitor.