At 3pm:
If you missed the big soybean sale to China, today, here is the announcement:
Private exporters reported to the U.S. Department of Agriculture export sales of 240,000 metric tons of soybeans for delivery to China during the 2015/2016 marketing year.
The marketing year for soybeans began Sept. 1.
Mike
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At the close:
At the close, the Dec. corn futures finished 3 3/4 cents higher at $3.84 1/2. Nov. soybean futures ended 26 1/2 cents higher at $9.14.
Dec. wheat futures closed 13 1/4 cents higher at $5.11.
Dec. soymeal futures closed $8.20 per short ton higher at $317.70. Dec. soyoil futures closed $0.61 higher at $28.79.
In the outside markets, the Brent Crude oil market is $0.21 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 20 points lower.
Jack Scoville, The PRICE Futures Group, Senior Market Analyst, says the rally was all in the bean market. "The china demand created buying that pushed futures into stops, lots of fund buying. Real impressive," Scoville says.
Corn was the laggard, he says. "Not much happening there."
Wheat prices were up on the news of dry conditions in the Black Sea area. "Big volume day, although farmers quiet due to harvest progress and maybe price. Tomorrow, the FSA is in fact coming out with new acreage estimates, but I amount sure that this affected the action today."
Mike
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At the open:
At the open, the Dec. corn futures are trading 1 cent lower at $3.79. Nov. soybean futures are trading 5 cents higher at $8.92.
Dec. wheat futures are trading 1 cent higher at $5.08.
Dec. soymeal futures are $2.20 per short ton higher at $311.60. Dec. soyoil futures are trading $0.38 higher at $28.37.
In the outside markets, the Brent Crude oil market is $0.25 higher per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 81 points lower.
Mike
