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08-17-2016 06:41 AM - last edited on 08-17-2016 10:37 AM by marketeye
More records set in U.S. Ethanol Production:
According to EIA data, ethanol production averaged 1.029 million barrels per day (b/d)—or 43.22 million gallons daily. That is up 11,000 b/d from the week before and tied for the largest total on record. The four-week average for ethanol production remained unchanged at 1.012 million b/d for an annualized rate of 15.51 billion gallons.
Stocks of ethanol stood at 20.4 million barrels. That is a 0.2% decrease from last week.
In early trading:
In early trading, he Sep. corn futures are 1 1/2¢ higher at $3.29, while Dec. futures are 3/4¢ higher at $3.38 per bushel. Sep. soybean futures are 5¢ higher at $10.24, while Nov. soybean futures are 4¢ higher at $10.11. Sept. wheat futures are 1 1/2¢ lower at $4.22. Sep. soymeal futures are $0.10 short ton lower at $336.60. Sept. soyoil futures are $0.53 higher at 33.91¢ per pound. In the outside markets, the Brent crude oil market is $0.21 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 49 points lower.
On Wednesday, private exporters reported to the U.S. Department of Agriculture export sales of 381,000 metric tons of soybeans for delivery to China during the 2016/2017 marketing year.
The marketing year for soybeans began Sept. 1.
Another quiet overnight session as investors grapple with the strong demand and the USDA's forecast for record crops. The good news is that the Chinese can't seem to get enough of our soybeans as of late, and that's underpinning prices. The lower costs plus a weaker dollar that fell to the lowest since late June yesterday are helping to keep buyers interested. Let's hope that continues.
Here's what happened overnight:
Brent Crude Oil = 0.3% lower.
West Texas Intermediate Crude Oil = 0.3% lower.
Dollar = up 0.1%.
Wall Street = U.S. stock futures slightly lower in overnight trading.
World Markets = Global stocks lower amid slightly weaker oil.
08-17-2016 11:16 AM
And yes it is 50% true......
This government would sit on the price of commodities in order to help out our dear friends the Chinese. Raising our status in the world community.
How we gonna run for congress without those Chinese contributions...?