CORN

• Dec up 8 cents @ 3.87-1/4 
• Harvest at 25% & 87% mature
• Corn condition up 1% from last week @ 62% G/E
• Export sale of 160K mt to Mexico
• Ethanol futures continue to lend support
• Dec corn at prices not seen since March

SOYBEANS

• November up 27-3/4 @ 10.49-1/2
• Nov futures set contract high this morning @10.53-3/4
• Soybeans open interest is a record 1M contracts
• Export sales of 154.4K mt of soybeans – buyer unknown
• Palm oil lends support to futures
• Soybean harvest @ 38%, as many states are over 50% done
• No weather concerns to slow harvest for this week
• Dryness in Brazil lends support but rain in the forecast for next week

WHEAT

• Dec CHI up 15-3/4 @ 5.99-3/4 & Dec KC up 17 @ 5.41-1/4 & Dec MPLS up 8-3/4 @ 5.44-1/4 
• La Nina weather could reduce U.S. winter wheat crop, Russia & Argentina crops
• Germinations & early growth concerns for central Plains
• Paris milling wheat futures are within contract highs
• Russian wheat harvest close to record crop pegged at 83M mt
• Winter wheat planting 52% done, winter wheat emergence @ 24%

CATTLE

• Oct LC up 0.32 @ 109.15 & Oct FC down 0.95 @ 139.15 
• Corn rally adding pressure to feeders for the morning
• Too much beef to absorb without lower beef prices; production up 5.7%
• Cash Index for 10/2 on feeders is 142.74 – no cash developments yet for LC

HOGS

• Oct up 1.42 @ 76.20 
• Surge higher in pork cutout values yesterday sparked triple-digit gains today
• Cash prices at 76.81, some suggest market might be top-heavy
• Inconsistent pork cutout values keep traders cautious

Author

Amberlee Bratcher