Floor Talk September 1

[marketeye]

At the close:

At the close, the Dec. corn futures finished 6 1/4 cents lower at $3.69.  Nov. soybean futures finished 13 1/2 cents lower at $8.74.

Dec. wheat futures ended 1 1/4 cents higher at $4.86 1/4.

Dec. soymeal futures closed $3.20 per short ton lower at $308.10. Dec. soyoil futures closed $0.70 lower at $27.55. 

In the outside markets, the Brent Crude oil market is $3.72 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 386 points lower.

Matt Pierce, Futures International LLC floor trader, says wheat finished stronger on profit-taking.

"Wheat is hardly the leader. This was simply new month money movement. Wheat was "strong" because it holds the only speculative fund short and they are exiting. Beans and corn got beaten up because money is moving out. This could continue all week as funds rebalance.
There was little fundamentally supportive to reverse the negative trend in row crops."

Mike

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At mid-session:

At mid-session, the Dec. corn futures are trading 4 3/4 cents lower at $3.70.  Nov. soybean futures are trading 13 cents lower at $8.74.

Dec. wheat futures are 5 1/4 cents higher at $4.90.

Dec. soymeal futures are trading $3.40 per short ton lower at $307.90. Dec. soyoil futures are trading $0.78 lower at $27.47. 

In the outside markets, the Brent Crude oil market is $4.30 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 385 points lower.

Mike

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In early trading:

At 9:15am, the Dec. corn futures are trading 3 cents lower at $3.72.  Nov. soybean futures are trading 10 cents higher at $8.77.

Dec. wheat futures are 3 1/2 cents higher at $4.88.

Dec. soymeal futures are trading $4.20 per short ton lower at $307.10. Dec. soyoil futures are trading $0.33 lower at $27.92. 

In the outside markets, the Brent Crude oil market is $2.31 lower per barrel, the U.S. dollar is lower, and the Dow Jones Industrials are 371 points lower.

Mike

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At 6:30am:

Early calls: Corn 1-2 cents lower, soybeans 3-4 cents lower, and wheat 2-4 cents higher.

Trackers:
Overnight grain, soybean markets = Trading mostly lower.
Brent Crude Oil = $1.53 lower.
Dollar =Lower.  
Wall Street = Seen sharply lower, with eyes on China, and U.S. data.

World Markets = Europe stocks were lower, Asia/Pacific stocks were lower.

More in a minute,

Mike