At the close:
The Dec. futures corn contract settled 3 1/2 cents higher at $8.07 1/2. The Nov. soybean contract closed 9 cents lower at $16.25. Dec. wheat futures finished 15 1/2 cents higher at $8.81 per bushel.
In the outside markets, the NYMEX crude oil is $1.19 per barrel higher, the dollar is lower and the Dow Jones Industrials are 99 points higher.
One analyst says, "The markets are mixed, as commodities have separate drivers.
"Wheat rallied, overnight, off of increased Russian exports that continue to deplete that country's stocks. Corn was supported by poor yields in western Iowa. And soybean prices were hurt by this belief that the current rains have helped boost yield potential," he says.
Also, the U.S. Farm Service Agency Thursday released its first installment of its county-by-county acreage sign-up. Beans also received support from this report, analysts say. Though farmers have until September to sign-up, the report indicates that the U.S. could see an extra 1.8 million acres vs. previous USDA expectations.
Mike
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At mid-session:
The Dec. futures corn contract settled 3 1/4 cents higher at $8.07. The Nov. soybean contract is trading 7 3/4 cents lower at $16.26 3/4. Dec. wheat futures are trading 16 3/4 cents higher at $8.83 per bushel. The Dec. soymeal futures are trading $3.30 per short ton lower at $490.50. The Dec. soyoil futures contract is trading $0.07 lower at $53.64.
In the outside markets, the NYMEX crude oil is $0.98 per barrel, the dollar is lower and the Dow Jones Industrials are 63 points higher.
Mike
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At 10:30am:
Corn and soybeans trade lower, at this time. Wheat is the only commodity trading higher.
Mike
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At the open:
The Dec. futures corn contract is trading 2 cents higher at $8.07. The Nov. soybean contract is trading 1 cent lower at $16.32. Dec. wheat futures are trading 18 cents higher at $8.84 per bushel.
In the outside markets, the NYMEX crude oil is unchanged per barrel, the dollar is lower and the Dow Jones Industrials are 82 points higher.
Mike
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At 7:35am:
USDA Weekly Export Sales Report:
Corn=253,400 mt, below the trade's expectation of 400,000-600,000 mt.
Soybeans=1.02 mmt vs. the trade's expectation of 700,000-1.0 mt.
Wheat=396,700 mt vs the expectation of 400,000-700,000 mt.
Mike
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At 7:30am:
Early calls: Corn 5-7 cents higher, soybeans 2-4 cents lower, and wheat 12-14 cents higher.
Trackers:
Overnight grain, soybean markets=Trading higher.
Crude Oil=$0.06 per barrel lower.
Dollar=Higher.
Wall Street=Seen opening higher on China's stimulus outlook.
World=Mixed-to-lower.
More in a minute,
Mike
