Anybody seeing or hearing of harvesting fires? They are talking about in Machinery Talk.
----------------
At 2:25pm:
If you missed it, this morning, private exporters reported to the U.S. Department of Agriculture export sales of 238,000 metric tons of soybeans for delivery to China during the 2015/2016 marketing year.
The marketing year for soybeans began Sept. 1.
--Also, if you missed it Friday, the COT report showed the funds are long the corn and soybean markets, short the wheat market.
Mike
-------
At the close:
At the close, the Dec. corn futures settled 3 3/4 cents lower at $3.73. Nov. soybean futures closed 7 1/4 cents lower at $8.91.
Dec. wheat futures ended 6 1/2 cents lower at $4.85 3/4.
Dec. soymeal futures settled $1.20 per short ton lower at $310.80. Dec. soyoil futures closed $0.46 lower.
In the outside markets, the NYMEX Crude oil market is $1.14 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 14 points lower.
Mike
---------
At mid-session:
At mid-session, the Dec. corn futures are trading 2 3/4 cents lower at $3.74. Nov. soybean futures are trading 2 cents lower at $8.96.
Dec. wheat futures are trading 6 cents lower at $4.86.
Dec. soymeal futures are $0.70 per short ton higher at $312.70. Dec. soyoil futures are trading $0.32 lower.
In the outside markets, the Brent Crude oil market is $1.09 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 19 points lower.
Jack Scoville, The PRICE Futures Group, senior market analyst, says that the markets are trading lower as much for lack of reasons to go higher than anything else.
“It is dead here for me today, my farmers are harvesting and my buy side is not buying,” Scoville says. The weather is good and the harvest is zipping right along. I drove to Madison, Wisconsin and back, via Milwaukee, and the progress is out there. About two-thirds of the beans in and maybe a third of the corn, with work going on both Saturday and Sunday,” he says.
“The only sales announcements were for China and we know they are buying. No real reaction to the real strong bean exports on the weekly report, either. US Dollar is up and that is a negative. Harvest progress about 75 for beans and 60 for corn, I bet. Probably making our last down move for the harvest season,” Scoville says.
Mike
----------
At the open:
At the open, the Dec. corn futures are trading 2 cents lower at $3.74. Nov. soybean futures are trading 3 cents lower at $8.95.
Dec. wheat futures are trading 4 cents lower at $4.87.
Dec. soymeal futures are $0.10 per short ton higher at $312.00. Dec. soyoil futures are trading $0.29 higher.
In the outside markets, the Brent Crude oil market is $1.06 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 62 points lower.
Mike
-------------
At 7:55am:
Early calls: Corn 1-2 cents lower, soybeans 1-3 cents lower and wheat 1-2 cents lower.
Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $1.09 lower.
Dollar =Higher.
Wall Street = Seen lower, with more worries in Asia.
World Markets = Europe stocks were higher, Asia/Pacific stocks were lower.
More in a minute,
Mike
