HIGHLIGHTS
· Market Trend: Corn, Down 2+; Soybeans, Down 6-7; Wheat, 4-5 Lower. Europe: Wheat, +1 ¾; Corn, + ¾
·   A Chinese manufacturing index fell .3 point to 50.8 when an increase to 51.2 had been expected. Still, Shanghai managed to close up .45% but the Hang Seng eased .34%. The Nikkei was closed for a holiday after an unexpected stimulus activity by the BOJ contributed to a 4.83% increase on Friday. Europe however, is weaker in early trade: DAX, -.48%; CAC 40, -.41% and the FTSE, -.40%. Pre-market indications have the DOW 28 lower; the NAS, off 3 ½ points and the S&P, 2 lower. Energy futures are firmer; gold is off $.60 and the $ Index is ¼ point higher at 87.475
· Weather: Light to moderate rain with locally heavier amounts is forecast today for the western Corn Belt. Southern areas of the region appear set to receive the highest totals. In contrast, dry conditions are projected for the eastern Corn Belt for one more day. Temperatures today are forecast to be near to above-normal with the warmest readings in the west. Some light rain may persist in the western Corn Belt on Tuesday but higher totals are likely in the east. Above-normal temperatures are forecast for all areas through mid-week
· Dec Corn Down $.0225 at $3.7450; March Down $.02 at $3.8725. The funds sold Friday before going home on Friday
· Nov SB Down $.0625 at $10.4025; Jan Down $.0625 at $10.43. Funds: bought 6 K SB; 7 K SBM; 5 K SBO. No SB deliveries
· Dec Wheat Down $.0350 at $5.29; March Down $.042 at $5.4150 The funds sold 4 K on Friday
CORN/SORGHUM   ;
· ;December 2014 corn futures closed at $3.7675 on Friday, which is up $0.56 or 17.5% compared to Sept. 30
· ATI Research: U.S. corn harvest estimated at 60% as of Nov. 2 vs. the 5-year avg. of approx. 73%
· The harvest crop insurance price for December 2014 corn futures was set for the month of October at $3.4931
· Export Inspections released at 10 AM CDT; Corn, 34.0 needed; 27.7 last week. Milo—3.7 needed; 6.5 last week
· Commitment of Traders report: Non-Commercial long corn futures only positions decrease 4,147 contracts
SOYBEANS/WHEAT
· November 2014 soybean futures closed at $10.465 on Friday, which is up $1.3325 or 14.6% compared to Sept. 30
· ATI Research: U.S. soybean harvest est. at 85% as of Nov. 2 vs. the 5-year avg. of approx. 84%
· The harvest crop insurance price for November 2014 soybean futures was set for month of October at $9.6463
· Export Inspection released at 10 AM CDT; Soybeans, 31.8 needed; 80.7 last week
· ATI Research: U.S. winter wheat planting est. at 90% as of Nov. 2 vs. the 5-year avg. of approx. 89%
· Export Inspections released at 10 AM CDT; Wheat, 17.1 needed; 7.8 last week
ENERGY
· Firmer: QCLZ14, +$0.23 at $80.77; QRBZ,+$0.0019; QNGZ, +$.180; and QHOZ, -$.0137
· A mixed trend was seen in cash ethanol markets on Friday: Chicago steady; New York and Tampa eased ½; Gulf off 1 ½; Dallas unchanged; and LA was 1 ½ higher at $2.05 ½ per gallon
· Steady to weaker RINs: 2013’s down 1/8 to 45 ¾-46; 2014’s unch at 46 ¼-46 ½; and 2015’s off 1/8 to 46-46 ¼
· The December RBOB/Ethanol spread declined $.0263 on Friday to $.3325 on continued talk of export demand
LIVESTOCK/POULTRY    
· Choice boxed beef values were $2.15 lower on Friday but are up $3.79 vs. the previous week
· Cash cattle trading was light to moderate on Friday at $168 in the South, which is $1 to $2 lower than last week
· USDA pork carcass cutout value decreased 12-cents on Friday, is down $1.03 vs. last week and lowest since Feb. 21
· CME Lean Hog Index down $1.65 to $91.38. December futures up $0.825 to $88.025 and are $3.355 below the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather