HIGHLIGHTS
· MARKET TREND: CORN: CZ, Down $.02; SOYBEANS: SX, Down $.0125 WHEAT: WZ, Down $.0050; KWZ: Down $.0125
· “Mixed”,”seeking direction”, “holding pattern ahead of a Fed decision in the afternoon” all seem appropriate today: Shanghai lost 2.1% overnight; the Nikkei rose 1.4% and the Hang Seng finished down .5%. Europe is a mixed bag: the FTSE is off .14% while both the DAX and CAC 40 are .3-.4% higher. U.S. futures have a negative bias: DOW, 12 lower; S&P 500, down 2 and the NAS, 2.2 weaker. Outside markets are mostly weaker: $ Index, down .176; gold, up $1.80 and Nov WTI, 60-65 cents weaker
· T-storm Weather: A cool front passes today-Friday to break unseasonable warmth, but a milder pattern quickly resumes next week as the central U.S. averages warmer than normal over the next two weeks. The cool front triggers thunderstorms from the southern Plains through the central Corn Belt within today-Saturday to slow corn / soybean harvesting and HRW wheat planting, though topsoil moisture improves for planting in parts of Oklahoma and Texas. Another round of significant rainfall is not expected to immediately follow as drying resumes / continues
· Dec Corn Down $.0225 at $3.8375; Mar, Down $.0225 at $3.95. The funds sold 7 KWednesday
· Nov SB Down $.0125 at $8.86; Jan Down $.01 at $8.90. Funds: sold 1 K SB, 2 K SBM, bought 2 K SBO
· Dec Wheat Down $.0050 at $4.8775; Mar steady at $4.9525. The funds sold 5 K yesterday
CORN/SORGHUM ;      
· Export Sales to be released at 7:30 AM CDT. Trade expects 16-24 mbu for 15/16 corn
· T-storm Weather: Widespread thunderstorms occur today-Friday from the southern Plains through the central Corn Belt, slowing corn harvesting as 0.75” to 1.50” of rain unfolds
· ATI Research: Accumulated rainfall from May 1-Sept 15 in Bloomington, Illinois was approximately 28.76”, which is 20% above the 2014 total of 23.88” and 58% above the average for the period of 18.15”
· Ethanol grind: 961,000 barrels per day for week end Sept. 11—up 0.3% v. last week and 3.29% higher vs. a year ago
SOYBEANS/WHEAT
· Export Sales to be released at 7:30 AM CDT. Trade expects soybeans 33-48 mbu for 15/16 soybeans; soymeal, 0-50 K MT old-crop, 100-180 K MT new-crop; soyoil, 0-10 K MT old-crop, 0-10 K MT new-crop
· T-storm Weather: After widespread thunderstorms today-Friday across U.S. Corn Belt, at least five to seven days of mainly dry weather follow from Saturday forward as areas of high pressure suppress rain & support soybean harvest
· Export Sales to be released at 7:30 AM CDT. Trade expects 10 to 17 mbu for 15/16 all wheat
· T-storm Weather: Rainfall today-Friday across U.S. southern Plains to improve soil moisture for HRW wheat growth
ENERGY
· Weaker: CLV15, -0.62, $46.54; EBX,-$0.82; EBX-CLX, $2.08, -$0.16; RBV, -$.0121; NGV, +$.0004; HOV, -$.0178
· Cash ethanol markets were mostly firmer on Wednesday: Chicago added 1; New York steady; Gulf up ½; Dallas gained ¾; Tampa climbed 1 ¼; and LA was a penny higher at $1.65 ½ per gallon
· Ethanol RINs posted gains: 2013’s firmed 2 at 30-32; 2014’s up 2 at 31-33; & 2015’s climbed 2 to 30-32
· The Oct RBOB/Sep Ethanol inverse lost $.0462 yesterday, slipping back to $.1379/gallon
LIVESTOCK/POULTRY </wbr>
· On Wednesday, choice boxed beef values eased 8-centse, and at $233.41 are $6.06 lower from a week ago
· October live cattle futures closed at $137.60 Wed.—lowest settlement price for a nearby contract since May 28, 2014
· On Wednesday, USDA mandatory pork carcass cutout fell 42-cents, and at $82.91 is the lowest since July 20
· CME Lean Hog Index was down $.46 at $70.98. October futures $1.125 lower at $68.25 and $2.73 below the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather