Download After the close recap The bean market set the pace

September 19, 2016
After the close recap
The bean market set the pace in the overnight holding on to a 15 cent rally. The day session reopened near the highs of the day and faded sharply before a small bounce on the
close. November beans ended the day 6 ½ cents higher. The corn market followed the
same pattern as the soybeans but only managed a ¼ cent gain. The wheat markets ended
up close to home with Chicago wheat up ¾ cent, Minny wheat down ¼ cent, and KC wheat
down ¾ cent.
Highlights
The market received a rare treat this morning with a fresh export announcement of
191,000 tons of corn to Mexico. The last time there was a new corn announcement was
back on September 1st also destined for Mexico. This morning’s export inspection data was
good for corn, average for wheat, but disappointing for soybeans. The corn number of
1,285,034 tons kept alive the streak of inspections above 1 million tons at 16 weeks now.
Although wheat inspections were just average this week at 562,215 tons, the pace is ahead
of what is needed to meet the USDA figure. Corn and soybeans are currently running behind the USDA
pace.
This information is provided by a research analyst and should not be construed as a recommendation
to buy or sell any commodity contract. The information contained in this presentation is taken from
sources which we believe to be reliable, but is not guaranteed by us as to accuracy or completeness
and is sent to you for information purposes only. There is a risk of loss when trading commodity futures and options. Neither the firm nor the research analyst have any positions in these products.
September 19, 2016
Closer Look
Corn conditions continue to defy gravity. The good/excellent rating stayed steady this
week at 74%. Last year the rating was 68% and the 5 year average for this point is only
59%. The current rating of 74% is tied for the best rating since 1994! Expectations are for
the USDA to start dropping corn yields in upcoming reports but the crop conditions would
argue against big cuts.
This information is provided by a research analyst and should not be construed as a recommendation
to buy or sell any commodity contract. The information contained in this presentation is taken from
sources which we believe to be reliable, but is not guaranteed by us as to accuracy or completeness
and is sent to you for information purposes only. There is a risk of loss when trading commodity futures and options. Neither the firm nor the research analyst have any positions in these products.