At the close:
The Dec. corn futures settled 2 1/2 cents lower at $3.65.
Nov. soybean futures ended 1 3/4 cents lower at $10.28.
Dec. wheat futures finished 2 cents higher at $5.56.
Dec. soymeal futures finished $0.20 lower at $343.50. Dec. soyoil futures settled $0.21 higher at $33.17.
In the outside markets, the crude oil is $0.57 per barrel higher, the dollar is higher, and the Dow Jones Industrials are 51 points higher.
Mike
---------
At mid-session:
The Dec. corn futures are trading 5 1/4 cents lower at $3.62.
Nov. soybean futures are trading 7 3/4 cents lower at $10.21.
Dec. wheat futures are 6 1/2 cents lower at $5.48.
Dec. soymeal futures are $2.60 lower at $341.10. Dec. soyoil futures are trading unchanged at $32.96.
In the outside markets, the crude oil is $0.48 per barrel higher, the dollar is lower, and the Dow Jones Industrials are 53 points higher.
Jack Scoville, PRICE Futures Group vice-president, says that the beans have collapsed, whoever needed to do something in terms of buying Sep is done. "Other than that it is high crop ratings and forecasts for real good weather for the next week or two that is keeping the market down. Production ideas here are generally higher than the Pro Farmer tour as people keep thinking a big crop gets bigger, and with the rains and warmer temps aroundno one is too worried. I am hearing about some stress to crops in Nebraska for some reason, and also some SDS in SW Corn Belt areas, but no one right now seems to care. I think beans got the most downside potential, not sure how much more down there is in corn, and I am actually kind of interest in buying wheat," Scoville says.
Mike
---------
At 9am:
The Dec. corn futures are trading 1 1/2 cents lower at $3.66.
Nov. soybean futures are trading 6 cents lower at $10.23.
Dec. wheat futures are 6 1/2 cents lower at $5.48.
Dec. soymeal futures are $1.80 lower at $341.90. Dec. soyoil futures are trading $0.17 lower at $32.79.
In the outside markets, the crude oil is $.22 per barrel higher, the dollar is lower, and the Dow Jones Industrials are 44 points higher.
Mike
---------
At 6:45am:
Early calls: Corn is looking 0-2 cents lower, soybeans 2-4 cents lower, and wheat 1-2 cents higher.
Trackers:
Overnight grain, soybean markets = Trading mostly lower.
Crude Oil = $.17 per barrel higher.
Dollar = Lower.
Wall Street = Seen slightly higher.
World Markets = Europe stocks were higher, Asia/Pacific stocks were lower.
More in a minute.
