At the close:
The Dec. corn futures closed 3 cents lower at $3.71.
Nov. soybean futures finished 2 cents lower at $10.78.
Sep. wheat futures finished 6 1/2 cents lower at $5.61.
Dec. soymeal futures closed $0.70 lower at $347.50. Dec. soyoil futures settled $0.15 lower at $36.05.
In the outside markets, the NYMEX Brent crude oil is $0.36 per barrel higher, the dollar is higher and the Dow Jones Industrials are 63 points lower.
Jack Scoville, PRICE Futures vice-president, says it was a real quiet day here today. "Not a whole lot of interest in doing much of anything. CWG is calling for better ie drier weather in Europe net week, plus the trade does not really think shipments of wheat will get interrupted no matter what happens in Ukraine right now, so wheat got hit the hardest all day. New crop corn and beans were weaker on the good weather, but it was quiet and I think people expect some choppy trading over the next few days. Looks like they want to squeeze the August beans a bit, shows how late the southern crop is! I also think that USDA will be a little conservative next week due to the lateness of the crop, they will want to see if before going to the super aggressive levels seen by the private guys. But, with the rains now and the generally good weather seen this summer, July was dry but cool so no real stress, we got chances to see a real big crop, no doubt about it. It is more a question of how big will it be rather than will it be big or won’t it."
Mike
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At mid-session:
The Dec. corn futures are trading 5 1/2 cents lower at $3.68.
Nov. soybean futures are trading 7 cents lower at $10.73.
Sep. wheat futures are 2 1/2 cents lower at $5.65.
Dec. soymeal futures are $2.20 lower at $346.00. Dec. soyoil futures are trading $0.27 lower at $35.93.
In the outside markets, the NYMEX Brent crude oil is $0.22 per barrel lower, the dollar is higher and the Dow Jones Industrials are 57 points lower.
Mike
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At the open:
The Dec. corn futures are trading 3 3/4 cents lower at $3.70.
Nov. soybean futures are trading 1 cent lower at $10.79.
Sep. wheat futures are 5 cents lower at $5.62.
Dec. soymeal futures are $0.60 lower at $347.60. Dec. soyoil futures opened $0.02 lower at $36.18.
In the outside markets, the NYMEX Brent crude oil is $0.26 per barrel higher, the dollar is higher and the Dow Jones Industrials are 43 points higher.
Mike
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At 8:20am:
USDA Weekly Export Sales show that soybeans beat and corn, wheat fell within expectations:
Wheat= 620,900 metric tons vs. the trade's expectations of between 400,000-725,000 metric tons
Corn= 879,600 metric tons vs. the trade's expectations of between 400,000-1,000,000 metric tons
Soybeans= 1.455 million metric tons vs. the trade's expectations of between 300,000-1,400,000 metric tons.
Soybean meal= 731,100 metric tons vs. the trade's expectations of between 150,000-500,000 metric tons.
Mike
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At 8:10am:
Fresh daily export sales announced Thursday by USDA:
Private exporters reported to the USDA export sales of 113,000 metric tons of soybeans to unknown destinations for delivery during the 2014/2015 marketing year.
Mike
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At 7:22am:
Early calls: Corn is seen 1-2 cents lower, soybeans 1-2 cents lower, and wheat 5-7 cents lower.
Trackers:
Overnight grain, soybean markets=Trading lower.
Brent Crude Oil=$0.20 per barrel lower.
Dollar=Higher.
Wall Street=Seen higher, as investors digest new Russian sanctions .
World Markets=Europe stocks were mostly lower, Asia/Pacific stocks were mostly higher.
More in a minute,
Mike
