HIGHLIGHTS
· MARKET TREND: CORN: CZ, Down $.0025; SOYBEANS: SX, Up $.0150; WHEAT: WZ, Down $.0250; KWZ: Down $.0175
· As the Fed dallies, Rome appears to be smoking, if not in the midst of a modest blaze. Uncertainty over the timing of the Fed’s rate hike continues to make markets nervous. Shanghai gained a modest .08%; the Nikkei lost .2% and the Hang Seng closed down .3%. S Korea’s Kospi fell over 1%. Early European trade is to the downside: FTSE, -.2%; CAC 40, -.7% and DAX, -.8%. Why break a trend?: U.S. futures point to a lower start: DOW, -42; NAS, -19.50 and S&P, -5.75. Outside markets find Oct WTI down $1.05 per barrel; gold is $3.10 cheaper at $1,106.20/oz and the $ Index is up .168 at 95.61.
· T-storm Weather: A few showers and thunderstorms dot the central / southern Plains and southeast half of the Corn Belt today. A cloudy upper-level system then drifts across the Corn Belt through Saturday-Sunday, marking a dramatic end to the unusually warm period as an unseasonably cool period briefly unfolds; maximums in the 60s across the Corn Belt this weekend will be cooler than last weekend's minimums. Sharp warming immediately followsSunday-Monday and likely continues through much of next week. The next chance for organized rainfall likely holds until Sept. 17-20 across most of the central U.S.
· Sep Corn Up $.0025 at $3.62; Dec Down $.0025 at $3.74. The funds bought 3 K Thursday. Dely: 212
· Sep SB Up $.02 at $8.8650; Nov Up $.0150 at $8.7550. Funds: bought 1 K SB & 2 K SBO, sold 1 K SBM. Dely: SBM, 0; SBO, 6
· Sep Wheat Even at $4.68; Dec Down $.0250 at $4.7550. The funds bought 3 K yesterday. Dely: 14 HRW; 101 SRW
CORN/SORGHUM ; ;    
· Export Sales to be released at 7:30 AM CDT. Trade expects 14-24 mbu for 15/16 corn
· USDA WASDE at 11:00: Avg. trade guess of 2015 U.S. corn crop: 13.484 bbu (range 13.057-13.870) & 13.686 in August
· USDA WASDE: Avg. trade guess U.S. corn carryout--14/15, 1.771 bbu (1.772 in August); 15/16, 1.609 (1.713)
· ATI Research: Accumulated rainfall from May 1-Sept 9 in Bloomington, Illinois was approximately 27.21”, which is 30% above the 2014 total of 20.90” and 55% above the average for the period of 17.52”
· T-storm Weather: Favorable conditions for U.S. corn harvesting begin Sunday-Monday and last for 5 to 10 days
SOYBEANS/WHEAT
· Export Sales to be released at 7:30 AM CDT. Trade expects soybeans 37-55 mbu for 15/26 soybeans; soymeal, -20-+50 K MT old-crop, 75-250 K MT new-crop; soyoil, -10-15 K MT old-crop, 0-10 K MT new-crop
· USDA WASDE: Avg. trade guess for 2015 U.S. soybean crop: 3.841 bbu (range 3.715-3.935) & 3.916 in August
· USDA WASDE: Avg. trade guess for U.S. soybean carryout--14/15, 230 mbu (240 in August); 15/16, 424 (470)
· USDA WASDE: Avg. trade guess for U.S. all wheat carryout--15/16, 868 mbu (850 in August)
· Export Sales to be released at 7:30 AM CDT. Trade expects 9 to 18 mbu for 15/16 all wheat
ENERGY
· Weaker: CLV15, -1.04, $44.88; EBV,-$0.83; EBV-CLV, $3.16, +$0.20, RBV, -$.0283; NGV, -$.021; HOV, -$.0271
· Cash ethanol markets remained mixed on Thursday: Chicago steady; New York off ¾; Gulf up ¾; Tampa down 4; Dallas slipped 3 ¼; and LA was 2 lower at $1.61 ½ per gallon
· Ethanol RINs declined: 2013’s off 2 at 29 ¾-33; 2014’s down 2 ¾ at 30 ¼-34; and 2015’s slid 2 ¼ to 29 ¾-32 ½
· The Oct RBOB/Sep Ethanol spread gained $.0289 to -$.0794/gallon, premium ethanol
LIVESTOCK/POULTRY    
· Choice boxed beef values declined 41-cents on Thursday, and at $239.06 are $1.75 lower vs a week ago
· Dressed steer weight for week end Aug. 29: 906 lbs, up 1 pound v. last week, 896.5 for 4-week avg. & 877 last year
· On Thursday, USDA mandatory pork carcass cutout eased $1.63 is now at the lowest level sinceJuly 22
· CME Lean Hog Index down $0.84 to $73.08. October futures $0.275 lower at $68.65 and are $4.43 below the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather