At the close:
At the close, the Dec. corn futures finished 1 1/2¢ higher at $3.56 3/4, while March futures settled 1 1/4¢ higher at $3.69. Nov. soybean futures settled 6 3/4¢ lower at $9.62, Jan. soybean futures ended 6 1/2¢ lower $9.72. September wheat futures closed 1/2¢ higher at $4.37 3/4. Dec. soy meal futures finished $2.00 per short ton lower at $305.20. Dec. soy oil futures closed $0.49 lower at 34.94¢ per pound. In the outside markets, the Brent crude oil market is $1.60 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 38 points higher.
Mike
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At mid-session:
At mid-session, the Dec. corn futures are 2 1/2¢ higher at $3.57, while March futures are 2 1/4¢ higher at $3.70. Nov. soybean futures are 2 1/2¢ lower at $9.66, Jan. soybean futures are 2 1/4¢ lower $9.76. September wheat futures are 3 1/2¢ higher at $4.40. Dec. soy meal futures are $0.50 per short ton lower at $306.70. Dec. soy oil futures are $0.28 lower at 35.15¢ per pound. In the outside markets, the Brent crude oil market is $0.89 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 39 points higher.
Mike
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At 9:45am:
If you missed it, here are the export totals released Friday.
On Friday, the USDA released its Weekly Export Sales Report.
- Wheat= 375,500 metric tons, vs. the trade’s expectations of between 350,000-550,000 mt.
- Corn= 1.122 million mt. vs. the trade’s expectations of between 650,000-1,250,000 mt.
- Soybeans= 1.154 million mt. vs. the trade’s expectations of between 500,000-1,400,000 mt.
- Soybean meal= 273,000 mt. vs. the trade’s expectations of between 150,000-450,000 mt.
Separately, private exporters reported to the U.S. Department of Agriculture the following activity:
- --Export sales of 264,000 metric tons of soybeans for delivery to China during the 2017/2018 marketing year; and
- --Export sales of 179,324 metric tons of corn 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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At 9:20am:
In early trading , the Dec. corn futures are 2 1/2¢ higher at $3.57, while March futures are 2 1/4¢ higher at $3.70. Nov. soybean futures are 4¢ higher at $9.72, Jan. soybean futures are 3 3/4¢ higher $9.82. September wheat futures are 2 3/4¢ higher at $4.40. Dec. soy meal futures are $1.10 per short ton higher at $308.30. Dec. soy oil futures are $0.03 higher at 35.46¢ per pound. In the outside markets, the Brent crude oil market is $0.12 lower, the U.S. dollar is lower, and the Dow Jones Industrials are 13 points higher.
Mike
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Soybeans and corn futures were higher in overnight trading amid dry weather in the Midwest just as corn is maturing and worries about Hurricane Irma slowing the Delta harvest next week. Corn rose just over a penny, soybeans gained 2 cents and wheat was up 2-3 cents overnight. The storm is now a Category 4 hurricane, downgraded as winds slowed as it tore through the Caribbean, but is still packing sustained winds of 150 miles an hour. It's expected to make landfall in the U.S. near Miami sometime either late Saturday or early Sunday. Thoughts are with the fine folks of Florida. In other news, ethanol production rose to the highest level since January, ending the 2016-2017 marketing year on a high note. Export sales and Commitment of Traders are on tap for today. See all the details in today's 3 Big Things at http://www.agriculture.com/news/three-big-things/3-big-things-today-september-8.
Here's what happened overnight:
Brent Crude Oil = up 0.3%
West Texas Intermediate = down 0.3%
Dollar = down 0.6%.
Wall Street = U.S. stock futures lower in pre-market trading.
World Markets = Global stocks lower on North Korea's `Founding Day'
