At the close:
At the close, the Dec. corn futures settled 3 1/4¢ lower at $3.51, while March futures finished 3 1/4¢ lower at $3.64. Nov. soybean futures closed 1¢ lower at $9.67, Jan. soybean futures settled 1¢ lower $9.78. September wheat futures ended 5 1/2¢ lower at $4.43 1/2. Dec. soy meal futures closed $1.20 per short ton higher at $312.60. Dec. soy oil futures finished $0.38 lower at 34.43¢ per pound. In the outside markets, the Brent crude oil market is $0.08 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 64 points higher.
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At 10:25am:
In early trading , the Dec. corn futures are 3 3/4¢ lower at $3.51, while March futures are 3 1/2¢ lower at $3.63. Nov. soybean futures are 4 1/2¢ higher at $9.73, Jan. soybean futures are 4 1/4¢ higher $9.83. September wheat futures are 6 1/4¢ lower at $4.42. Dec. soy meal futures are $3.50 per short ton higher at $314.90. Dec. soy oil futures are $0.28 lower at 34.53¢ per pound. In the outside markets, the Brent crude oil market is $0.49 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 76 points higher.
On Monday, private exporters reported to the U.S. Department of Agriculture the following activity:
--Export sales of 261,000 metric tons of soybeans for delivery to China during the 2017/2018 marketing year; and
--Export sales of 126,000 metric tons of soybeans for delivery to unknown destinations during the 2017/2018 marketing year.
The marketing year for soybeans and corn began Sept. 1.
Mike
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Soybeans and corn were little changed overnight amid varying reviews of yields and uncertainty about the weather. Some minor early-harvest delays are expected due to rainfall but so far nothing major is forecast and nobody knows what yields are going to look like since nobody's offered any solid guidance this year. Beans were up about 2 cents while corn lost a penny or less. Wheat was down 1-2 cents. Fundamentally nothing's changed so investors don't know which way to turn. In other news, the CFTC report showed speculators raised their net-short positions, or bets on lower prices, on corn but were less bearish on soybeans last week. In weather news, it's raining in parts of eastern Nebraska and western Iowa, and two more hurricanes, Maria and Jose, are picking up steam in the Atlantic. This hurricane season has just been crazy. Check out all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-september-18.
Here's what happened overnight:
Brent Crude Oil = down 0.7%
West Texas Intermediate = down 0.7%
Dollar = up 0.1%.
Wall Street = U.S. stock futures higher in pre-bell trading.
World Markets = Global stocks higher amid improving economic outlook.
