VIDEO:
SIGN-UP Now!! Successful Marketing Newsletter details here
------------------------------
At the close:
At the close, the Dec. corn futures settled 2 1/2 cents lower at $3.78 1/4. Nov. soybean futures finished 6 1/2 cents lower at $8.98 3/4.
Dec. wheat futures ended 4 cents lower at $4.90 3/4.
Dec. soymeal futures closed $2.70 per short ton lower at $307.80. Dec. soyoil futures ended $0.33 lower at $28.85.
In the outside markets, the Brent Crude oil market is $0.17 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 285 points higher.
Alan Brugler, President Brugler Marketing & Management LLC, says that demand and outside influences are driving today’s prices.
“Got a little buy-the-rumor, sell the fact on the soybean sales, but the main feature was the strong dollar rally vs. the euro. Strong stock market also pulls spec money away from commodities, since the two are negatively correlated,” Brugler says.
Mike
------------
At 12:45pm:
If you missed it, this morning.
Private exporters reported to the U.S. Department of Agriculture export sales of 463,000 metric tons of soybeans for delivery to unknown destinations. Of the total 420,000 metric tons is for delivery during the 2015/2016 marketing year and 43,000 metric tons is for delivery during the 2016/2017 marketing year.
The marketing year for soybeans began Sept. 1.
Mike
-------
At mid-session:
At mid-session, the Dec. corn futures are trading 2 1/4 cents lower at $3.78. Nov. soybean futures are trading 2 3/4 cents lower at $9.02.
Dec. wheat futures are trading 3 cents lower at $4.91.
Dec. soymeal futures are $1.20 per short ton lower at $309.30. Dec. soyoil futures are trading $0.26 lower at $28.92.
In the outside markets, the Brent Crude oil market is $0.28 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 277 points higher.
One floor trader says, "Its all options. November soybean futures are gravitating back to 900, for tomorrow's expiration. Besides that, the markets are just chopping."
Mike
----------
At the open:
At the open, the Dec. corn futures are trading 1/4 of a cent lower at $3.80. Nov. soybean futures are trading 5 1/2 cents higher at $9.10.
Dec. wheat futures are trading 1/4 of a cent lower at $4.94.
Dec. soymeal futures are $2.20 per short ton higher at $312.70. Dec. soyoil futures are trading $0.10 higher at $29.28.
In the outside markets, the Brent Crude oil market is $0.43 higher per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 126 points higher.
Mike
--------
At 7:45am:
USDA Weekly Export Sales Report Thursday shows beans beat expectations:
Wheat= 359,200 mt vs. the trade's expectations of 200,000-500,000 metric tons.
Corn= 248,000 mt vs. the trade's expectations of 400,000-800,000 metric tons.
Soybeans= 2.13 million metric tons vs. the trade's expectations of 1.0 million-2.0 million mt.
Soybean meal= 268,700 mt vs. the trade's expectations of 150,000-250,000 metric tons.
Mike
--------
At 7:00am:
Early calls: Corn 1-2 cents higher, soybeans 1-3 cents higher and wheat 4-5 cents higher.
Trackers:
Overnight grain, soybean markets = Trading higher.
Brent Crude Oil = $0.76 higher.
Dollar =Higher.
Wall Street = Seen higher, with housing data and big earnings eyed. Caterpillar earnings tumble in third quarter.
World Markets = Europe stocks were mostly mixed, Asia/Pacific stocks were lower.
More in a minute,
Mike
