HIGHLIGHTS
· Market Trend: Corn, 1-2 Lower; Soybeans, 4 Higher; Wheat, 7 Lower. Europe: Wheat, - 6; Corn, - 4 ¾
· Asia completed the day mixed: the Nikkei fell ¾%; Shanghai managed a .27% gain and the Hang Seng closed up 1.17%. Europe took a cue from the U.S., with early trade finding the CAC-40 and FTSE up .30+% and the DAX, 1+%. The mostly higher trade comes from the release of the Fed’s Sep 16-17 policy meeting which had suggest the Central Bank is still some time away from an interest rate hike. Pre-market: Dow, +9; S&P, +3.25; NASDAQ, +9.80. Externals: energy futures are mixed; the $ Index is down nearly a ¼ point at 85.365 and gold is up a noticeable $19.60/oz at $1,224.90
· T-Storm Weather: A major rain event continues into Saturday as the remnant of Hurricane Simon moves across the southern third to half of the central U.S. – heavy rainfall of 1.00” – 3.00” results to the south of Interstate-80, slowing planting and harvesting. Another system follows around Monday-Tuesday to bring additional rainfall to the southeast third to half of the Corn Belt and Delta, thereby continuing wet conditions for corn / soybean harvesting and SRW wheat planting in these areas. A milder and drier pattern is most likely to follow the exit of rain next week as coolness retreat and pulls the main storm track northward
· Dec Corn Down $.0150 at $3.4175; March Down $.0150 at $3.55. The funds bought 4 K mid-week
· Nov Soybeans Up $.04 at $9.39; Jan Up $.03 at $9.4650. No SBM, SBO del’ys. Funds: sold 2 K SB; 2 K SBM, 1 K SBO
· Dec Wheat Down $.0675 at $5.01; March Down $.07 at $5.1225 Fund buying was estimated at 3 K yesterday
CORN/SORGHUM    
· Export Sales to be released at 7:30 AM CDT. Trade expects 22 to 30mbu corn
· T-storm Weather: After rains end around the middle of next week (Oct. 14-15), a milder and drier pattern is most probable to develop, thereby improving conditions for corn harvest
· Ethanol grind: 901 thou barrels per day for week end Oct. 3—up 20 thou vs. last week and up 3.8% vs. last year
· December 2014 corn futures closed at $3.43 ¼ Wed.; one year ago, December 2013 corn contract closed at $4.41 ¾
SOYBEANS/WHEAT
· Export Sales: Soybeans, 18 to 33mbu; soymeal, -50-0 old-crop, 150-300 new-crop; soyoil, -50-0 old, 15-30 new-crop
· T-storm Weather: 20% of U.S. soybeans were harvested as of Sunday—far behind the 29-year average of 39%
· Nov. 2014 soybean futures closed at $9.35 Wed.; one year ago, the Nov. 2013 soybean contract closed at $12.88 ¾
· Export Sales: Trade expects 15-22mbu for all wheat
· T-storm Weather: As of Sunday, U.S. winter wheat planting was 6 points behind the 29-year average due to sluggish SRW planting in the Delta and eastern Corn Belt
ENERGY
· Futures are mixed: QCLX14,+$0.02 at $87.33; QRBX,-$0.0177; QNGX, +$.004; and QHOX, -$.0119
· Cash ethanol markets extended gains on Wednesday in: Chicago added 3 ¼; Gulf up 3 ¾; New York and Tampa firmed 2 ½; Dallas climbed 3; and LA was 2 ½ higher at $1.72 per gallon
· RINs were higher: 2012’s up 3/8 to 47-47 ¼; 2013’s gained 3/8 to 47-47 ¼; and 2014’s were 3/8 higher at 47-47 ½
· The November RBOB/November Ethanol spread lost over 7 ½ cents on Wednesday, falling to $.7274/gallon
LIVESTOCK/POULTRY  
· Choice boxed beef values gained $2.67 yesterday and have increased $8.23 over the last three days
· The USDA mandatory pork carcass cutout value eased 3-cents yesterday and has lost 63-cents over the last two days
· CME Lean Hog Index up $0.55 to $110.46. October futures up $0.90 to $108.125, but are $2.335 below the index
· Broiler egg set last week was up 5.1% from last year and average set over the last four weeks is 3.1% above last year
Sources: Bloomberg, Dow Jones, AP, T-storm Weather