Floor Talk September 13
At the close:
At the close, the December corn futures finished 2¢ lower at $3.50. March futures ended 2 1/4¢ lower at $3.62 3/4.
Nov soybean futures closed 6 3/4¢ lower at $8.33 1/4. Jan. soybean futures closed 6 1/2¢ lower at $8.47. Dec. wheat futures ended 9 3/4¢ lower at $4.97. Dec. soymeal futures closed $3.50 per short ton lower at $314.90.
Dec. soy oil futures ended 0.20¢ lower at 27.79. In the outside markets, the NYMEX crude oil market is $1.58 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 135 points higher.
In early trading, the December corn futures are steady at $3.52. March futures are 1/4¢ lower at $3.64.
Nov soybean futures are 5¢ higher at $8.23. Jan. soybean futures are 5 1/4¢ higher at $8.58.
Dec. wheat futures are 4 1/2¢ lower at $5.02.
Dec. soymeal futures are $0.40 per short ton lower at $318.00.
Dec. soy oil futures 0.11¢ higher at 28.10.
In the outside markets, the NYMEX crude oil market is $1.04 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 176 points higher.
Soybeans were a bit lower after yesterday's inexplicable jump, and corn was higher in overnight trading. Beans yesterday rose after the USDA raised its outlook for both corn and soybean yields and production, while corn fell. Futures were reversed in overnight trading with beans down about 3 cents and corn up just over a penny. Despite the bearish USDA report yesterday, some analysts and traders don't believe crops are as good as the government is forecasting. In other news, ethanol production last week dropped to the lowest in almost five months while inventories increased. In weather news, all eyes are on Hurricane Florence that's set to make landfall in less than 24 hours along the Carolina coast. Winds have slowed to about 110 miles an hour from 130 yesterday, and the storm was downgraded to a Category 2 event. Still, the National Weather Service is warning of a deadly storm surge -- a rising of the seas -- and excessive rainfall that will cause flooding far inland. Check out today's 3 Big Things for all the details.
West Texas Intermediate = down 1.3%.
Brent Crude = down 0.7%.
Dollar = down 0.3%.
Wall Street = U.S. stock higher pre-market.
World Markets = Global stocks mostly higher overnight.