After the close:
MDA Weather crop tour scouts found some more estimates Friday:
Dakota County, NE: 159.3 bu/ac
Thurston County, NE: 152.7 bu/ac
Burt County, NE: 137.7 bu/ac
DAY 5 AVERAGE: 158.8 bu/ac
ENTIRE TOUR AVERAGE: 191.9 bu/ac
Miek
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At the close:
At the close, the Sep. corn futures settled 3 1/2¢ higher at $3.24 1/4, Dec. futures finished 3 1/4¢ higher at $3.34 1/2 per bushel. Sep. soybean futures closed 14 1/2¢ higher at $9.88, while Nov. soybean futures ended 17 3/4¢ higher at $9.74 1/2. Sept. wheat futures closed 12 3/4¢ higher at $4.16. Sep. soymeal futures closed $6.40 short ton higher at $334.40. Sep. soyoil futures are $0.02 lower at 30.62¢. In the outside markets, the Brent crude oil market is $0.27 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 172 points higher.
Mike
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At mid-session:
At mid-session, the Sep. corn futures are 2 1/2¢ higher at $3.23, Dec. futures are 2¢ higher at $3.33 per bushel. Sep. soybean futures are 15¢ higher at $9.88, while Nov. soybean futures are 17 3/4¢ higher at $9.74. Sept. wheat futures are 13 1/2¢ higher at $4.16. August soymeal futures are $4.80 short ton higher at $334.50. August soyoil futures are $0.09 higher at 30.63¢. In the outside markets, the Brent crude oil market is $0.46 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 160 points higher.
Mike
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At 10am:
More China soybean import insight released Friday.
USDA's China attache estimated the country’s 2016/17 soybean imports at a record 86.0 million tonnes, up from 83.0 MMT in 2015/16; the official USDA S&D figure for the ‘16/17 marketing year stands at 87.0 MMT.
Mike
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At 9:15am:
If you missed it earlier, the USDA has annonced fresh soybean sales for the seventh trading day in a row. On Friday,
Private exporters reported to the U.S. Department of Agriculture export sales of 498,000 metric tons of soybeans for delivery to China during the 2016/2017 marketing year.
The marketing year for soybeans began Sept. 1.
WOW! THIS IS SOMETHING!
Mike
At 9am:
FWIW: The MDA Weather folks are digging up more yield estimates. This time in the upper Midwest:
Moody County, SD: 194.6 bu/ac
Minnehaha County, SD: 188.4 bu/ac
DAY 4 AVERAGE: 191.0 bu/ac
Lyon County, MN: 214.0 bu/ac
Lincoln County, MN: 216.1 bu/ac
Brookings County, MN: 172.7 bu/ac
Mike
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At the open:
At the open, the Sep. corn futures are 1/2¢ lower at $3.20, Dec. futures are 1/2¢ lower at $3.30 per bushel. Sep. soybean futures are 9¢ higher at $9.82, while Nov. soybean futures are 10 1/2¢ higher at $9.67. Sept. wheat futures are 1¢ higher at $4.04. August soymeal futures are $4.10 short ton higher. August soyoil futures are $0.16 lower. In the outside markets, the Brent crude oil market is $0.07 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 100 points higher.
Mike
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Beans are flying out of the bin this week as China bought another 252,000 tons from the U.S., the Department of Agriculture said yesterday. It's been that way for a week now, but futures can't hold on to gains and taper by the end of the day. Let's see if that streak ends today. Sales were good in the seven days through July 28, and after this week's announcements they should be good again in next week's USDA sales report.
Here's what happened overnight:
Brent Crude Oil = 0.9% lower.
West Texas Intermediate Crude Oil = 0.8% lower.
Dollar = down 0.2%.
Wall Street = U.S. stock futures higher in overnight trading.
World Markets = Global stocks improve on improve stimulus measures, weaker dollar.
