HIGHLIGHTS
· MARKET TREND: CORN: CZ Up $.01; SOYBEANS: SX, Up $.05; WHEAT: WZ, Up $.0225; KWZ: Up $.0225
· China on holiday again today but selling prevails in Asian markets: the Nikkei closed 2.15% lower; the Hang Seng was off .45% and South Korea’s Kospi lost 1.54%. Losses were attributed to a sharp down-turn in U.S. futures. Europe is not faring too well this morning either: CAC 40, -2.20%; DAX, -2.16% and FTSE, -1.73%. Ahead of the August jobs report (220 K expected, unemployment at 5.2%), DOW futures are 193 in the red; the S&P is 22 lower and the NAS, down 49. This will be the final major data piece ahead of the Fed’s Sep interest rate decision. Gold, down $1.90; $ Index, -.113 at 96.305; CLV, -$.37 at $46.38/bl
· T-storm Weather: Unseasonable warmth continues through early next week. A cooler pattern gradually follows as two cool fronts pass – especially from late next week forward. A few thunderstorms occur in the eastern Corn Belt through today as a weak circulation exits, but more would likely be ideal. Better rain chances exist within the northwest third to half of the Corn Belt when a cool front passes Sunday-Monday, but more so within Tuesday-Thursday when a stronger front passes; highest rain chances are in western corn / soybean (and HRW wheat) areas of the western Corn Belt and central / southern Plains
· Sep Corn Up $.0175 at $3.4950; Dec Up $.01 at $3.6250. The funds sold 10 K yesterday. Dely: 952
· Sep SB Up $.05 at $8.8475; Nov Up $.0475 at $8.7425 Funds: sold 5 K SB, 4 K SBM, even on SBO. Dely: SBO, 379
· Sep Wheat Steady, $4.5650; Dec Up $.0225 at $4.76750. The funds sold 8 K. Dely: 57 HRW; 355 SRW
CORN/SORGHUM ;          
·   T-storm Weather: Despite upcoming coolness for the U.S. Midwest later next week, soil temperatures are (and remain) much too warm to support a significant freeze over the next two weeks (and likely longer)
· December 2015 corn futures closed at $3.61 ½ on Thursday—one year ago, December 2014 corn settled at $3.46 ½
· ATI Research: Combined old/new unshipped U.S. export sales of corn of 362 mbu continue to be about 25%/120 mil fewer than this time last year and are 28%/140 mil less than average. Sept-Nov export forecast remains 365 mbu
· U.S. corn mature for the week ending Sept. 6 was approx. 14% last year and the five-year average is approx. 26%
SOYBEANS/WHEAT
· ATI Research: Combined old/new unshipped U.S. export sales of soybeans of 529 mbu compare to last year’s total of 805 mil. and the average of 711 mil. Sept-Nov export forecast is unchanged at 650 mbu
· T-storm Weather: The coverage of topsoil dryness this week reached the highest level in more than 3 months for U.S. soybeans
· CBT September wheat futures closed at $4.56 ½ Thursday—the lowest price for a nearby contact since June 29, 2010
· ATI Research: U.S. HRS year-to-date export sales of 115 mbu are down 12% vs. last year and 1% below the 5-year avg.
ENERGY
· Lower: CLV15, -0.37, $46.38; EBV,-$0.19; EBV-CLV, $4.11, +$.18, RBV, -$.0145; NGV, -$.03; HOV, -$.0034
· Cash ethanol markets were posted modest gains on Thursday: Chicago up 1/8; New York gained 1 ¾; Gulf added 1; Dallas climbed 2 ¼; Tampa tacked on 2 ½; and LA was a nickel higher at $1.65 per gallon
· Ethanol RINs were weaker: 2013’s eased ½ to 35 ½-36; 2014’s off ¾ to 37 ½-38; and 2015’s down ½ to 35 ½-36
· The Oct RBOB/Sep Ethanol spread settled at -$.0089 on Thursday, $.0179 firmer
LIVESTOCK/POULTRY     ;
· ;Choice boxed beef values were 16-cents weaker on Thursday, and at $240.81 are $3.40 vs. the prior week
· Dressed steer weight for week end Aug. 22: 905 lbs, up 5 pounds v. last week, 891.25 for 4-week avg. & 880 last year
· On Thursday, USDA mandatory pork carcass cutout was down $1.25, but at $84.32 is still up a nickel vs. a week ago
· CME Lean Hog Index $0.49 lower at $76.39. October futures down $0.325 to $69.45 and are $6.94 below the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather