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09-20-2017 06:53 AM - last edited on 09-20-2017 01:47 PM by marketeye
After the close:
The FED keeps interest rate unchanged, Wednesday!
At the close:
At the close, the Dec. corn futures settled 1 3/4¢ higher at $3.50, while March futures ended 1 3/4¢ higher at $3.62. Nov. soybean futures settled 4 1/2¢ higher at $9.70, Jan. soybean futures finished 4 1/2¢ higher $9.80. September wheat futures ended 6 3/4¢ higher at $4.49 3/4. Dec. soy meal futures closed $1.40 per short ton higher at $310.10. Dec. soy oil futures finished $0.15 higher at 34.91¢ per pound. In the outside markets, the Brent crude oil market is $0.82 higher, the U.S. dollar is higher, and the Dow Jones Industrials are 25 points lower.
Mike North, Commodity Risk Management Group, says China’s insatiable appetite for U.S. soybeans is important for the markets.
“The Chinese purchase is certainly helping this along, but it is aided by technical support that has been building in corn at levels just below $3.50. A trend line has been developing and yesterday's test of that line invited buyers,” North says.
At mid-session, the Dec. corn futures are 1 3/4¢ higher at $3.50, while March futures are 2¢ higher at $3.62. Nov. soybean futures are 4 3/4¢ higher at $9.70, Jan. soybean futures are 4 3/4¢ higher $9.80 3/4. September wheat futures are 4¢ higher at $4.47. Dec. soy meal futures are $1.60 per short ton higher at $310.30. Dec. soy oil futures are $0.07 higher at 34.83¢ per pound. In the outside markets, the Brent crude oil market is $0.58 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 23 points higher.
In early trading , the Dec. corn futures are 1 1/4¢ higher at $3.49, while March futures are 1 1/4¢ higher at $3.62. Nov. soybean futures are 5¢ higher at $9.70, Jan. soybean futures are 5¢ higher $9.81. September wheat futures are 3 3/4¢ higher at $4.46. Dec. soy meal futures are $1.90 per short ton higher at $310.60. Dec. soy oil futures are $0.01 lower at 34.75¢ per pound. In the outside markets, the Brent crude oil market is $0.58 higher, the U.S. dollar is lower, and the Dow Jones Industrials are 3 points higher.
On Wednesday, private exporters reported to the U.S. Department of Agriculture the following activity:
•--Export sales of 132,000 metric tons of soybeans for delivery to China during the 2017/2018 marketing year; and
•--Export sales of 1,080,000 metric tons of soybeans for delivery to unknown destinations. Of the total 960,000 metric tons is for delivery during the 2017/2018 marketing year and 120,000 metric tons is for delivery during the 2018/2019 marketing year.
The marketing year for soybeans began Sept. 1.
Corn and beans were again little changed overnight amid uncertain yields. When the harvest first started everybody said their yields weren't good, now we're hearing they've improved as collection moved north. Southern Iowa is reportedly bad, but Nebraska is reportedly good. It's hard to know which way to trade these markets with reports like that. Corn is up about a penny, beans are up 3 cents and wheat was up 1-2 cents. Hurricane Maria is making landfall as I type in Puerto Rico and hurricane warnings are in effect for the Virgin Islands. It's moving northwest but isn't, for now at least, on track to hit Florida. Hurricane Jose, meanwhile, is causing dangerous tides on the East Coast. Rough year for hurricanes. 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-20.
Here's what happened overnight:
Brent Crude Oil = up 1.2%
West Texas Intermediate = up 1.1%
Dollar = down 0.1%.
Wall Street = U.S. stock futures mixed in pre-bell trading.
World Markets = Global stocks mixed amid geopolitical uncertainty.
09-20-2017 09:29 AM
I heard that too, maybe SF home page had that story Hopefully Bradstad is better suited for his new job. China must have different yield reports for us....oh but there might be a decline in world edible oil production.
09-20-2017 12:25 PM
And there's going to be more beanies in those hoppers because they're smaller this year.
Been a strange year - seemed like February was warmer than April and September has certainly been warmer than August.
We haven't had to deal with mosquitoes this year until recently. They were terrible all last summer.
My theory is that it was warm enough early that the eggs hatched but then it froze before they could reproduce.
What a life = hatch, suck blood, reproduce and die. All in what - about 2 weeks?