HIGHLIGHTS
· MARKET TREND: CORN: CZ, Down $.0225; SOYBEANS: SX, Down $.0275; WHEAT: WZ, Down $.0275; KWZ: Down $.0225
· Asia is listless ahead of this morning’s U.S. jobs report which is expected to show the economy added 208 K workers in September with unemployment holding at 5.1%. The Nikkei was mostly flat at +.02%; the Hang Seng did manage to rebound 3.2% but the Kospi lost .49%. Shanghai is taking the day off again. Europe, on the other hand, looks prosperous: FTSE, +1.6%; DAX, +1.6% & CAC 40, +2.0%. U.S. futures suggest a positive end to the week: DOW, +69; S&P, +7 ½; NASA, +23. Externals: Nov WTI is up $.40 at $45.13/barrel; the $ Index is .144 higher at 96.47 and gold is $9 lower at $1,105.00
· T-storm Weather: For the central U.S., the atmospheric setup causes a sustained northeast wind to keep most areas dry and cool over much of the next week, followed by a warmer pattern and a few rain chances from next week forward (beyond rain over Friday-Sunday in HRW wheat areas of the Plains). Therefore, corn / soybean harvesting and wheat planting continually advance. In South America, areas of heavy rain limit planting in / near southern Brazil over the next week as cool fronts trigger thunderstorms. Planting will also be limited further to the north as the dry season holds
· Dec Corn Down $.0225 at $3.8650; Mar Down $.0225 at $3.9750. The funds bought 2 K on Thursday
· Nov SB Down $.0275 at $8.75; Jan Down $.0250 at $8.7825. Fund activity: sold 5 K SB, 4 K SBM and 2 K SBO
· Dec Wheat Down $.0275 at $5.1550; Mar Down $.03 at $5.2125. The funds bought 4 K yesterday
CORN/SORGHUM ;      
· ATI Research: Current unshipped corn export sales (sold but not yet shipped) to the Far East, which is defined here as Japan, Taiwan, South Korea and the rest of Asia but excluding China, are at the lowest level since 1987
· T-storm Weather: A few thunderstorms affect all of the central U.S. late next week (Oct. 8-10) when the first of several cool fronts pass
· December 2015 corn futures closed at $3.88 ¾ on Thursday—one year ago, December 2014 corn settled at $3.22 ¾
· U.S. corn mature for the week ending Oct. 4 was approx. 75% last year and the five-year average is approx. 84%
SOYBEANS/WHEAT
· ATI Research: Unshipped U.S. export sales of soybeans of 707 mbu are 30%/302 million fewer than this time last year and are 12%/100 million less than the 5-year average. Sept-Nov export forecast is 675 mbu vs. 824 a year ago
· U.S. soybean harvest for the week ending Oct. 4 was approx. 19% last year and the five-year average is approx. 32%
· ATI Research: U.S. wheat export sales of 2.8mbu for week end 9/27 are lowest for this time of year since at least 1986
· T-storm Weather: A round or two of rain would be ideal for U.S. HRW and SRW wheat given that 50% to 60% of production was drier than normal over the last 30 days
ENERGY
· Mixed: CLX15, +$0.40, $45.13; EBX,+$0.11; EBX-CLX, $2.69, -$.26; RBX, -$.0221; NGX, -$.006; HOX, -$.0035
· Cash ethanol markets were firmer on Thursday: Chicago increased 2 5/8; New York added 2 ¾; Gulf and Tampa up 4; Dallas climbed 3 ½; and LA was 3 higher at $1.71 ½ per gallon
· Ethanol RINs steady to down: 2013’s off 3/8 to 34 ¼-35; 2014’s unch at 35-36; & 2015’s eased 3/8 to 34 ¼-35
· The Oct RBOB/Oct Ethanol inverse shot up nearly 6 ¾ cents to -$.2132 on supply concerns for the East Coast
LIVESTOCK/POULTRY    
·   Choice boxed beef values were another $1.07 lower on Thursday, & at $207.55 are the lowest of calendar year 2015
· October live cattle futures closed at $121.40 Thur.—lowest settlement price for nearby contract since Aug. 7, 2013
· On Thursday, USDA mandatory pork carcass cutout increased $2.09, and at $85.93 is $4.07 higher vs. a week ago
· CME Lean Hog Index up $0.42 at $72.65. October futures $0.90 lower at $72.625 and $0.025 below the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather