CORN
- Dec up 2 @ 5.16
- US corn harvest at 4% vs 5% a year ago
- US corn rated 58% good/excellent – 87% dented
- Scattered rains will fall this week but should not slow down harvest
- Heavy rains expected near Gulf – not helpful in IDA repair
- China still absent from buying with internal price low
- Preliminary changes in futures as of 9/13: down 1,748 contracts
SOYBEANS
- Nov up 1 @ 12.86
- Survey reveals US soybean crush seen at 154.1M bu for August
- US soybeans rated 57% good/excellent & 38% dropping leaves
- Ministry of Ag has extended the soybean planting window in Brazil
- Stats Canada lowered canola production to 12.78 mmt from 14.7 last month
- China expected to continue to buy US beans as internal price close to $20 per bushel
- Preliminary changes in futures as of 9/13: down 5,912 contracts
WHEAT
- Dec wheat up 11 @ 6.97, Dec KC up 10 @ 6.97, Dec MNPLS up 7 @ 8.83
- Stats Canada reports total wheat output down 38.3% to 21.7M mt
- Stats Canada reports spring wheat output down 40.7% to 15.3M mt
- US winter wheat planted 12% vs 9% a year ago
- France cuts wheat harvest estimate to 36.1M mt from 36.7
- Ukraine’s crop raised to 31.2M tons up from 30.5M tons
- Brazil starting to harvest what could be a record crop
- Preliminary changes in futures as of 9/13: down 4,556 SRW contracts
CATTLE
- Oct LC up 2.65 @ 125.00 & Oct FC up 3.15 @ 158.55
- Futures bounce back after news of JBS plant will be running today
- Yesterday live cattle fell to lowest level since June 1st
- Boxed beef prices still continue to drop this week
- Cattle slaughter projected at 117K
- CME Feeder Cattle Index for 9/10: up 0.09 @ 155.09
HOGS
- Oct hogs up 0.05 @ 80.82 & Oct pork cutout up 0.07 @ 97.00
- Hopes of higher cash diminished yesterday
- Slaughter lower than a year ago
- Still a large discount of futures to cash
- Hog slaughter projected at 475K
- CME Lean Hog Index for 9/10: down 0.33 @ 97.40
Author
Amberlee Bratcher