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feed-grains soy-oilseeds wheat

Market Commentary

Trading started out on a firmer note before bulls backed off and let prices drift lower into the close. The trade is cautious of being too bullish about the October WASDE, having projected bullish statistics for almost every report this summer, only to have USDA release big crop/big stocks numbers. There is certainly room for yields to fall due to the ongoing early snowstorm, but that damage won’t be known until well after the October WASDE and USDA will not incorporate it into tomorrow’s projections.  The weather remains broadly supportive with the U.S. snowstorm likely to cause significant lodging amid other problems. Conversely, Brazil and Argentina remain too dry, though yield potential reductions won’t be known...

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 20 Corn closed at $3.7675/bushel, up $0 from yesterday's close.  Mar 20 Wheat closed at $5.245/bushel, up $0.0075 from yesterday's close.  Jan 20 Soybeans closed at $8.895/bushel, up $0.0525 from yesterday's close.  Jan 20 Soymeal closed at $299.3/short ton, down $2.2 from ye...

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