At the close:
At the close, the Dec. corn futures settled 2 1/2 cents lower at $3.77 1/4. Nov. soybean futures finished 17 1/4 cents lower at $8.67 1/4.
Dec. wheat futures closed 5 1/4 cents higher at $4.86 3/4.
Dec. soymeal futures finished $4.50 per short ton lower at $307.80. Dec. soyoil futures ended $0.62 lower at $26.25.
In the outside markets, the Brent Crude oil market is $2.37 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 248 points lower.
Mike
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At 1:40pm:
Egypt buys a bunch of wheat. None of it is from the U.S., unfortunately.
EGYPT'S GASC BUYS 55,000 TONNES OF UKRANIAN WHEAT FROM VENUS
EGYPT'S GASC BUYS 55,000 TONNES OF RUSSIAN WHEAT FROM GLENCORE
EGYPT'S GASC BUYS 60,000 TONNES OF RUSSIAN WHEAT FROM OLAM
EGYPT'S GASC BUYS 60,000 TONNES OF FRENCH WHEAT FROM SOUFFLET
EGYPT'S GASC BUYS WHEAT AT AVERAGE PRICE OF $191 A TONNE COST AND FREIGHT
Mike
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At mid-session:
At mid-session, the Dec. corn futures are trading 1/2 of a cent lower at $3.79. Nov. soybean futures are trading 13 1/2 cents lower at $8.71.
Dec. wheat futures are 6 1/4 cents higher at $4.87.
Dec. soymeal futures are trading $3.90 per short ton lower at $308.40. Dec. soyoil futures are trading $0.58 lower at $26.29.
In the outside markets, the Brent Crude oil market is $1.27 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 132 points lower.
Mike
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At the open:
At the open, the Dec. corn futures are trading 1 cent lower at $3.78. Nov. soybean futures are trading 3 cents lower at $8.81.
Dec. wheat futures are 2 cents higher at $4.83.
Dec. soymeal futures are trading $0.30 per short ton lower at $312.00. Dec. soyoil futures are trading $0.35 lower at $26.51.
In the outside markets, the Brent Crude oil market is $0.60 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 99 points lower.
Mike
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At 8:25am:
I think corn has life. Ukraine mentioned today that its corn production will drop 20% this year. We've already heard from our Brazilian counterparts that say corn in that country is falling. On a global stage, it appears things are shaping up for the U.S. to be able to chew through this big old-crop pile and the new crop pile coming on, this month and next. It already pays to store corn until next spring. So, it looks like $4.00 is doable and maybe even a march towards $5 or higher next spring. These are my 2¢ on this Friday, September 18.
Do you care to sit and have a cup of cyberspace coffee? Have a seat and let me know what you think of the rationale.
Mike
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At 7:30am:
Early calls: Corn 1-2 cents higher, soybeans 1-2 cents lower, and wheat 1-2 cents higher.
Trackers:
Overnight grain, soybean markets = Trading mostly higher.
Brent Crude Oil = $0.10 lower.
Dollar =Higher.
Wall Street = Seen lower, as the trade digestst he Fed Reserve decision to leave interest rates unchanged.
World Markets = Europe stocks were mosly lower, Asia/Pacific stocks were mostly lower.
More in a minute,
Mike
