Monday, September 30, 2019

"USDA Releases Market-Friendly Data For Corn and Soybeans"

Since this morning's heads-up post "Ahead of Today's USDA Grain Inventory Report" beans are higher, corn is much higher and whet has turned a small loss into a 3% gain.

Soybean ending stocks tighten.  
DES MOINES, Iowa — While still large, the U.S. corn and soybean supplies have been tightening, according to the USDA.

As a result, the soybean market jumped up 20¢ per bushel, corn up 10¢.
At midsession, the Dec. corn futures are 7 3/4¢ higher at $3.79 1/4. March corn futures are 7 1/2¢ higher at $3.91 1/2.

Nov. soybean futures are 16 3/4¢ higher at $8.99 1/4. Jan. soybean futures are 15 3/4¢ higher at $9.13 1/4.
Dec. wheat futures are 3/4¢ higher at $4.87 1/4.
December soymeal futures are $3.90 per short ton higher at $299.00. December soy oil futures are $0.30 higher at 29.14¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.68 per barrel lower, the U.S. dollar is higher, and the Dow Jones Industrials are 158 points higher.

Sept. 1 Stocks
In its Quarterly Grain Stocks Report Monday, the USDA pegged the U.S. corn supply, as of Sept. 1, at 2.11 billion bushels. The trade expected the USDA to print stocks at 2.428 billion bushels....