Floor Talk September 22

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At the close:

At the close, the Dec. corn futures settled 4 cents lower at $3.80 1/2.  Nov. soybean futures finished 12 1/2 cents lower at $8.61 3/4.

Dec. wheat futures finished 1 1/4 cents lower at $4.95 1/2.

Dec. soymeal futures closed $4.90 per short ton lower at $303.30. Dec. soyoil futures ended $0.37 lower at $26.34. 

In the outside markets, the Brent Crude oil market is $0.61 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 233 points lower.

Jack Scoville, Price Futures Group vice-president, says the grain market pressure is tied as much to Brazilian Real weakness as anything else.  “The selling was seen in all commodities in what seemed to be a risk-off time, as no one is sure what will happen to the world economic picture and what will happen next,” Scoville. 
He added, “The Real weakness really impacted soybeans, sugar, and coffee, the others held rather well.  Beyond that we need some demand. But, all we got coming are the Chinese contracts that get signed on Thursday.”
Spec traders appeared to be the best sellers, little farm selling, he says. 

Mike

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At mid-session:

At mid-session, the Dec. corn futures are trading 4 cents lower at $3.80.  Nov. soybean futures are trading 11 cents lower at $8.63.

Dec. wheat futures are 1 1/2 cents lower at $4.95.

Dec. soymeal futures are trading $4.70 per short ton lower at $303.50. Dec. soyoil futures are trading $0.24 lower at $26.46. 

In the outside markets, the Brent Crude oil market is $1.21 lower per barrel, the U.S. dollar is higher, and the Dow Jones Industrials are 274 points lower.

Mike

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At 7:30am:

Early calls: Corn 4-5 cents lower, soybeans 7-8 cents lower, and wheat 5-7 cents lower.

Trackers:
Overnight grain, soybean markets = Trading lower.
Brent Crude Oil = $0.82 lower.
Dollar =Higher.  
Wall Street = Seen lower, as European markets weaken.

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

More in a minute,

Mike