HIGHLIGHTS
· MARKET TREND: CORN: CZ, Down $.03; SOYBEANS: SX, Down $.04; WHEAT: WZ, Down $.0550; KWZ: Down $.0525
· Foreign markets rally ahead of Fed decision on ideas that a rate boost may not be a slam-dunk at this point. Asia was certainly positive: Shanghai closed up 4.9%; the Hang Seng gained 2.4%, the Kospi rose nearly 2% and the Nikkei managed a .8% higher close. Mid-day trading in Europe finds the all 3 major indices highere with gains ranging from .4% for the DAX to 1.1% higher for the CAC 40. U.S. markets don’t seem quite as optimistic: DOW futures, -27; NAS, -4.5 and the S&P, -4. Externals: Oct WTI is 70-75 cents to the plus side; gold is up $5.20 at $1,107.80 and the $ Index is up .075 at 95.86
· T-storm Weather: Unseasonably warm weather dominates over much of the next two weeks. A cool front triggers thunderstorms from the southern Plains through the Corn Belt within Thursday-Saturday, briefly slowing some corn / soybean harvesting and winter wheat planting. Amounts in / near Iowa and Illinois are forecast at 0.75” to 1.50”, while 0.50” to 1.00” is probable in the southern Plains, especially Saturday when a secondary wave passes. That said, rainfall coverage and amounts remain limited after thunderstorms exit, returning / continuing the dry pattern
· Dec Corn Down $.03 at $3.8750; Mar, Down $.0325 at $3.9850. The funds sold 6 KTuesday
· Nov SB Down $.04 at $8.85; Jan Down $.0425 at $8.88. Funds: bot 4 K SB, bot 4 SBM; sold 5 SBO
· Dec Wheat Down $.0550 at $4.8925; Mar Down $.05 at $4.9750. Fund selling totaled 6 K.
CORN/SORGHUM ;      
·  ATI Research: Near-term U.S. corn exports are forecast to average 34-35 mbu per week (+/- 3.5) and versus 33.3 per week last year during the upcoming 4-week period and versus the 5-year average of 29 per week
· Crop consultant: Bias is the USDA will trim its estimate of U.S. corn harvested acreage, likely in October crop report
· U.S. corn mature for the week ending Sept. 20 was approx. 40% last year and the five-year average is approx. 56%
· Ethanol margins: $0.08 per gallon--down vs. $0.20 last week and below $0.76 last year. EIA report at 9:30 AM CDT
SOYBEANS/WHEAT
· ATI Research: Near-term U.S. soybean exports estimated at 7-12 mbu per week versus 8.2 in ’14 & 5-year avg. of 15.6
· T-storm Weather: The probability for freeze damage to U.S. soybeans is very low this year
· Crop consultant: Higher U.S. soybean yield in USDA Sept. report doesn’t seem realistic given crop problems this year
· ATI Research: U.S. all wheat exports forecast to average 20-25 mbu per week short-term
· T-storm Weather: Rainfall later this week in the U.S. southern Plains to improve topsoil moisture for wheat planting
ENERGY
· Firmer: CLV15, +0.77, $45.37; EBV,+$0.74; EBX-CLX, $2.76, +$0.010; RBV, +$.0137; NGV, +$.0187; HOV, +$.0154
· EIA estimates: crude, +1.1 (API: -3.1); Gasoline, -0.2 (+0.5); Distillates, +0.9 (+3.1)
· A steady to slightly firmer trend was seen in cash ethanol markets on Tuesday: Chicago up ¼; New York steady; Gulf gained ½; Dallas and Tampa added 1; and LA was 1 ¼ higher at $1.64 ½ per gallon
· Ethanol RINs higher: 2013’s up ¼ at 28-30; 2014’s added ¼ to 29-31; & 2015’s firmed ¼ to 28-30
· The Oct RBOB/Sep Ethanol spread tightened slightly, snugging in $.0256 to $.1841/gallon
LIVESTOCK/POULTRY <wbr>  
· Choice boxed beef values were $1.65 lower on Tuesday, and at $233.49 are down $5.67 from last week
· December 2015 live cattle futures closed at $142.175 on Tuesday—the lowest settlement price for the life of contract
· On Tuesday, USDA mandatory pork carcass cutout declined 84-cents, and at $83.33 is $1.68 lower vs. a week ago
· CME Lean Hog Index was $0.50 lower at $71.44. October futures $2.55 higher at $69.375 but $2.065 below the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather