At the close:
The Dec corn futures closed 3/4 of a cent higher at $4.47 1/2. The Nov. soybean contract ended 3 1/2 cents higher at $10.09. The Dec. wheat futures closed 5 cents higher at $7.13 3/4. The Dec. soymeal futures ended $0.25 per short ton higher at $296.10.
In the outside markets, the NYMEX crude oil is $1.06 per barrel higher, the dollar is lower, and the Dow Jones Industrials are up 16 points.
Mike
-------
At mid-session:
At mid-session, the Dec corn futures are 1 3/4 cents lower at $4.45. The Nov. soybean contract is 2 1/2 cents lower at $10.03. The Dec. wheat futures are 8 3/4 cents higher at $7.17 1/2. The Dec. soymeal futures are $0.40 per short ton lower at $293.20. The Dec. soyoil futures are 9 points lower at $40.03.
In the outside markets, the NYMEX crude oil is $0.03 per barrel lower, the dollar is lower, and the Dow Jones Industrials are up 4 points.
Mike
--------
At 10:30am:
One analyst says, "Higher opening off bullish weekly export sales report numbers prior the open but selling off the high has moderate losses an hour and a half into trading as more traders lighten up their book and risk ahead of the long three day holiday weekend as markets are closed Monday."
Mike
-----------
At the open:
At the open, the Dec corn futures are 1 1/2 cents lower at $4.45 1/4. The Nov. soybean contract is 2 1/2 cents lower at $10.03. The Dec. wheat futures are 13 1/4 cents higher at $7.22. The Dec. soymeal futures are $0.30 per short ton higher at $293.90. The Dec. soyoil futures are 23 points lower at $39.89.
In the outside markets, the NYMEX crude oil is $0.28 per barrel lower, the dollar is lower, and the Dow Jones Industrials are up 9 points.
Russia's wheat announcement could be helping this wheat market.
Mike
----------
At 7:40am:
The weekly Export Sales were bullish for corn and wheat, bearish for soybeans. For corn, USDA reported sales of 1.61 million metric tons, the trade expected 1-1.13 million. For soybeans, the weekly sales were 613,900, vs. the trade's expectation of 700-900,000. USDA estimated U.S. wheat sales at 1.02 million metric tons vs. the trade's thoughts of 750-950,000 metric tons. For soymeal, USDA pegged sales at 378,400 metric tons, while the trade expected 100-200,000 metric tons. Soyoil sales were 12,300.
Russia now says their grain export ban will extend into their next harvest. (Editorial): Didn't Putin just say, the other day, that his country didn't have a wheat supply problem? I'm confused.
Mike
---------
At 7am:
Early calls: Corn down 1-2 cents, soybeans up 3-4 cents wheat up 5-7 cents.
Trackers:
Overnight grain=Trading mostly higher. They close at 7:15am.
Crude oil=Trading $0.32 per barrel lower.
Dollar=Trading lower.
Wall Street= Seen opening flat ahead of jobs and factory data.
World Markets=Mixed-to-higher.
More in a minute,
Mike
