At the close:
At the close, the May corn futures finished 1 3/4 cents lower at $3.83 3/4 per bushel. The Dec. corn futures ended 3/4 of a cent lower at $4.09.
May soybean futures finished 8 cents lower at $10.10 3/4. The Nov. soybean futures closed 5 1/2 cents lower at $9.87.
May wheat futures settled 6 1/2 cents lower to $4.97 1/4.
In the outside markets, the NYMEX crude oil market is $1.28 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 1 point higher.
Mike
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At 1:42pm:
The weekly ethanol production dropped, for the week ending February 20th:
According to EIA data, ethanol production averaged 947,000 barrels per day (b/d)—or 39.77 million gallons daily. That is down 17,000 b/d from the week before. The four-week average for ethanol production stood at 955,000 b/d for an annualized rate of 14.64 billion gallons.
Stocks of ethanol stood at 21.6 million barrels. That is a 2.4% increase from last week and the highest since 4/20/2012.
Imports of ethanol were zero b/d, unchanged from last week, according to the Renewable Fuels Association press release.
Mike
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Soybeans start lower, turn higher, then reverse lower:
At 10:15am:
At 10:15am, the May corn futures are trading 2 3/4 cents lower at $3.82 per bushel.
May soybean futures are trading 1/2 of a cent higher to 1 cent lower, in a range between $10.17 and $10.19.
May wheat futures are trading 6 cents lower to $4.97.
In the outside markets, the Brent crude oil market is $0.28 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 4 points lower.
Mike
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At the open:
At the open, the May corn futures are trading 1/2 of a cent lower at $4.09 per bushel.
May soybean futures are trading 4 cents lower at $10.14.
May wheat futures are trading 3/4 of a cent lower to $5.03.
In the outside markets, the Brent crude oil market is $.58 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 1 point lower.
Mike
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At 8:05am:
Private exporters reported to the U.S. Department of Agriculture export sales of 120,000 metric tons of hard red winter wheat for delivery to Egypt during the 2014/2015 marketing year.
The marketing year for wheat began June 1.
Mike
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At 7:15am:
Early calls: Corn 2-4 cents lower, soybeans 4-5 cents lower, and wheat 1-2 cents lower.
Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.43 higher.
Dollar =Lower.
Wall Street = Seen flat, as investors await the rest of Fed Chairman Yellen's speech to House Finance Committee Wednesday. She already has hinted that the Fed is willing to be patient on an interest rate rise.
World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.
More in a minute,
Mike
