Hello gang. Could you help us out with something, please? We are conducting our Third Annual Benchmark Marketing Survey. We're getting enough data, with multiple year's worth of results, to begin to compare trends and habits. This is for you to be able to benchmark your marketing and risk management plans against others in farming. Could you please take a few minutes, and I mean just a few, to be involved in our annual survey. Here is the link. And, I promise, it literally takes less than 10 minutes, maybe a lot less. In fact, when you are done, post the time it took. That will help others too. Thanks, in advance.
Successful Farming Marketing Survey
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At the close:
The December corn futures finished 2 3/4 cents higher at $3.43 per bushel.
November soybean futures settled 5 3/4 cents lower at $9.35.
December wheat futures closed 1 1/2 cents higher at $5.07.
For Dec. soybean meal futures, the contract finished $2.80 per short ton lower at $309.80; Dec. soybean oil futures finished $0.08 lower at $33.02.
In the outside markets, the crude oil is $1.33 per barrel lower, the dollar is lower, and the Dow Jones Industrials are 181 points higher.
Mike
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At mid-session:
The December corn futures are 1/2 of a cent higher at $3.41 per bushel.
November soybean futures are trading 10 1/4 cents lower at $9.30.
December wheat futures are trading 3/4 of a cent lower at $5.05.
For Dec. soybean meal futures, the contract is $4.30 per short ton lower at $308.30; Dec. soybean oil futures are trading $0.21 lower at $32.89.
In the outside markets, the crude oil is $1.51 per barrel lower, the dollar is lower, and the Dow Jones Industrials are 47 points higher.
Dustin Johnson, EHedger LLC, says that the corn/bean ratio is finally making sense. "We are happy to see the corn/bean ratio come back in-line. The only problem with that is the corn rally is going to affect farmers insurance payouts negatively. Harvest has been slow to start but this week we expect a lot of activity to bring bushels to market. Perhaps the U.S. farmer is selling beans off the combine and keeping bin space open for the sub $3.00 cash corn. This could be the reasoning behind the corn gaining on beans over the last few days."
A look at the corn/bean ratio chart:
What do you think?
Mike
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At the open:
The December corn futures opened 1/4 cent higher at $3.40 per bushel.
November soybean futures opened 3/4 of a cent higher at $9.41.
December wheat futures opened 2 3/4 cents higher at $5.09.
For Dec. soybean meal futures, the contract opened $0.50 per short ton lower at $312.10; Dec. soybean oil futures are trading $0.01 lower at $33.09.
In the outside markets, the crude oil is $0.92 per barrel lower, the dollar is lower, and the Dow Jones Industrials are 8 points higher.
Mike
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At 7:30am:
Early calls: Corn is 1-2 cents lower, soybeans 3-5 cents higher, and wheat 1-2 cents higher.
Trackers:
Overnight grain, soybean markets = Trading mostly higher.
Brent Crude Oil = $0.65 per barrel lower.
Dollar = Higher
Wall Street = Seen flat, with eyes on the September FOMC meeting minutes to be released this afternoon.
World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.
More in a minute,
Mike
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