Floor Talk October 2
CME Group Announcement: "Following our letter to customers yesterday, please note that the calculation and distribution of the CME Lean Hog and Feeder Cattle Indexes has been temporarily suspended due to the unavailability of relevant data reported by the USDA-AMS.
We will continue to monitor the situation as it relates to any potential changes to the settlement procedures for the October 2013 Livestock futures and options contracts and provide updates accordingly."
At the close:
The Dec. corn futures contract settled unchanged at $4.39. The Nov. soybean futures contract closed 6 cents higher at $12.74. Dec. wheat futures ended 5 cents higher at $6.86 per bushel. The Dec. soymeal futures settled $8.40per short ton higher at $411.70. The Dec. soyoil futures finished $0.89 lower at $39.38.
In the outside markets, the NYMEX crude oil is $1.81 per barrel higher, the dollar is lower and the Dow Jones Industrials are 88 points lower.
If you missed it yesterday afternoon. Here are the latest estimates from INTL FC Stone:
U.S. Corn Yield= 158.7 bushels per acre in their October survey, up 2.3 bpa from September and now 3.4 bpa above the USDA
Corn Production= (assuming USDA harvested acreage) came in at 14.15 billionbushels,over 300 mbu above the USDA Sept figure.
Soybean yields= 41.4 bpa, up from 41.2 bpa in Sept (from both FCS and the USDA).
Soybean Production= 3.163 bln bu, a 14 mln bushel increase from the gov’t.
At the open:
The Dec. corn futures contract opened 3/4 of a cent lower at $4.38. The Nov. soybean futures contract opened 5 cents higher at $12.73. Dec. wheat futures started 4 cents higher at $6.85 per bushel. The Dec. soymeal futures opened $4.50 per short ton higher at $407.80. The Dec. soyoil futures opened $0.21 lower at $40.06.
In the outside markets, the NYMEX crude oil is $0.01 per barrel lower, the dollar is lower and the Dow Jones Industrials are 62 points lower.
Early calls: Corn is seen 1-2 cents lower, soybeans 5-7 cents higher, and wheat 1-2 cents lower.
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.10 per barrel lower.
Wall Street=Seen trading lower, as the U.S. government shutdown continues. Congress failed to meet a budget agreement deadline.
World Markets=Asia/Pacific stocks were higher, Europe stocks lower.
More in a minute,
Re: Floor Talk October 2
For the ones interested in soybeans, Brazil has set a record of biodiesel production. The volume produced in the first semester of the year is 257.2 million liters. The region which produces more biodiesel in Brazil is the center-western with 42% of the total output. However, most growth comes from the south. The state Rio Grande do Sul increased 30% of its production compared to last year. 75% of the biodesel made in Brazil comes from soybeans.