At the close:
At the close, the Dec. corn futures settled 1 1/2¢ lower at $3.52 1/4, while March futures finished 1 1/4¢ lower at $3.65 1/4. Nov. soybean futures finished 7 3/4¢ lower at $9.63 1/2, Jan. soybean futures settled 7 3/4¢ lower $9.74. September wheat futures closed 1/4¢ lower at $4.53 3/4. Dec. soy meal futures closed $1.20 per short ton lower at $313.10. Dec. soy oil futures settled $0.56 lower at 33.45¢ per pound. In the outside markets, the Brent crude oil market is $0.36 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 8 points higher.
Mike
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At mid-session:
At mid-session, the Dec. corn futures are 1/2¢ higher at $3.54, while March futures are 3/4¢ higher at $3.67. Nov. soybean futures are 7¢ lower at $9.64, Jan. soybean futures are 7¢ lower $9.74. September wheat futures are 2 1/2¢ higher at $4.56. Dec. soy meal futures are $3.20 per short ton lower at $311.10. Dec. soy oil futures are $0.08 higher at 34.09¢ per pound. In the outside markets, the Brent crude oil market is $0.52 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 51 points higher.
Jason Roose, U.S. Commodities grain analyst, says harvest activity is pressuring the soybean complex.
"Grains trading lower again, today, with soybeans the focus on better yield estimates on early harvested crops. Meanwhile, weather leans negative with rain in South America," Roose says.
Mike
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At 9:30am:
In early trading , the Dec. corn futures are 1/2¢ higher at $3.54, while March futures are 1/2¢ higher at $3.67. Nov. soybean futures are 6 1/4¢ lower at $9.65, Jan. soybean futures are 6¢ lower $9.75. September wheat futures are 5 1/4¢ higher at $4.59. Dec. soy meal futures are $3.50 per short ton lower at $310.80. Dec. soy oil futures are $0.15 higher at 34.16¢ per pound. In the outside markets, the Brent crude oil market is $0.52 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 51 points higher.
Mike
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Soybeans and corn were little changed in listless trading overnight as yield reports are still variable. In some areas (southern Illinois) yields are reportedly quite good while in parts of Kansas it's the opposite. The market is looking for some sort of fundamental indicator to tell them if yields are going to be good or bad (right now they're pretty average, from combined reports) so they're sitting on their hands for now. Beans were up a penny, corn was down a penny and wheat was little changed overnight. The harvest is moving on but not by much -- only 11% of corn was collected as of Sunday versus the norm of 17% for this time of year. Soybeans are only slightly behind average at 10%. Still, more rain is on the way in parts of Missouri and southern Iowa so that may slow growers. 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-26
Here's what happened overnight:
Brent Crude Oil = up 0.4%
West Texas Intermediate = little changed
Dollar = up 0.4%.
Wall Street = U.S. stock futures mixed in pre-bell trading.
World Markets = Global stocks mixed on political, economic uncertainty.
