At the close:
At the close, the Dec. corn futures settled 5 3/4 cents lower at $3.76 1/2. Nov. soybean futures finished 6 cents lower at $8.77 3/4.
Dec. wheat futures ended 14 cents lower at $5.08.
Dec. soymeal futures closed $2.20 per short ton lower at $302.20. Dec. soyoil futures settled $0.35 lower at $27.85.
In the outside markets, the Brent Crude oil market is $0.64 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 130 points higher.
Mike
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At mid-session:
At mid-session, the Dec. corn futures are trading 5 1/2 cents lower at $3.76. Nov. soybean futures are trading 2 3/4 cents lower at $8.81.
Dec. wheat futures are trading 12 3/4 cents lower at $5.09.
Dec. soymeal futures are $1.40 per short ton lower at $303.00. Dec. soyoil futures are trading $0.19 lower at $28.01.
In the outside markets, the Brent Crude oil market is $0.55 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 91 points higher.
Jack Scoville, The PRICE Futures Group Senior Market Analyst, says the weakness is mostly weather in the wheat today. “The weather has improved and the trade expects above average crop conditions, maybe 50% or so good to excellent. Demand is a bit better, but ideas are that USDA could cut demand in its reports next week. So, specs are adding to shorts today,” Scoville says.
He added, “Crop progress continues and we should be able to get mostly done this week, for sure all done next week and the weather is wonderful.”
Somewhat better weather in Brazil, too.
There is a good amount of demand in the soys, he says. “But, the market is worried about big supplies and some up ticks in farm-selling, at the end of the harvest, and that the demand is already kind of known.”
Mike
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At the open:
At the open, the Dec. corn futures are trading 2 cents lower at $3.79. Nov. soybean futures are trading 3/4 of a cent higher at $8.84.
Dec. wheat futures are trading 6 cents lower at $5.16.
Dec. soymeal futures are $0.30 per short ton higher at $303.40. Dec. soyoil futures are trading $0.21 higher at $27.99.
In the outside markets, the Brent Crude oil market is $0.69 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 42 points higher.
Mike
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Miss me? The trade wants to see Jan '16 beans get above $9.00, this week.Pre-report estimates will start coming out this afternoon. The report on Nov. 10 is expected to show bigger U.S. production. On Friday, the COT Report didn't surprie anybody. This afternoon's Crop Progress Report should show both crops nearly finished harvested.
Mike
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At 6:40am:
Early calls: Corn 1-2 cents lower, soybeans 1-2 cents higher and wheat 1-4 cents lower.
Trackers:
Overnight grain, soybean markets = Trading mostly lower.
Brent Crude Oil = $0.80 lower.
Dollar =Lower.
Wall Street = Seen higher, with a big week for data.
World Markets = Europe stocks were mostly higher, Asia/Pacific stocks were lower.
More in a minute,
Mike
