HIGHLIGHTS
· MARKET TREND—Higher: CU: Up $.01; SU: Up $.0950; WU: Up $.03; KWU: Up $.0125
· MACRO: Global equity markets are mostly steady to higher, ahead of today’s U.S. July jobs report which is expected to show the economy added 175 K positions and unemployment down .1% to 4.8. ASIA: The Nikkei closed unchanged; the Hang Seng rose 1.44% while Shanghai drifted .18% lower. EUROPE: Firmer at mid-day with the DAX, FTSE up .30-.31% & the CAC .62% higher. WALL STREET: Futures—DOW, +38; S&P, +5.5; NAS, +11.25.EXTERNALS: The $ Index is .117 weaker @ 95.600; August Gold is $.50 higher @ $1,359.30; and Sep crude oil is $.38 lower @ $41.55. Deliveries: 1 SBM; 514 SBO; 0 SB; 0 ETOH
· T-storm Weather: Seasonable to cool weather begins today & follows for several days as maximums in the 70s-80s coincide with minimums in the 50s-60s. The cool front triggers scattered thunderstorms across the northwest two-thirds of corn & soybeans through today with highest coverage & amounts of 0.25” to 0.75” across the northwest half to two-thirds (west of driest areas in Indiana & Ohio). A tropical circulation produces heavy rain of 1.00” to 2.00” across the central Plains Friday-Sunday
· Corn: CU Up $.01 @$3.2175; CZ Up $.0075 @ $3.3175. The funds sold 10 Kon Thursday
· SB: SU Up $.0950 @ $9.83 SX Up $.1050 @ $9.6725. Funds: Bot 2 K SB, 3 K SBO, sold 4 K SBM. Sep crush, -$.01, $.85; LY: $1.23
· Wheat: WU Up $.0325 @ $4.0650; WZ Up $.0175 @ $4.3225. Fund selling was estimated at 4 K yesterday
CORN/SORGHUM ; ;    
·   December 2016 corn futures closed at $3.31 Thursday, which is the lowest settlement price for the life of contract
· ATI Research: There has been a noticeable pick-up in vessel numbers for the Gulf & PNW as world demand shifts from S America to U.S. The may suggest a rather strong pull on corn, beans & wheat to West Coast for some time to come
· U.S. old-crop corn export sales for week ending July 28 of 13.0 mbu were within trade range of 12-20, but down 25% from last week 27% below the 4-week avg. Old-crop sales for the corresponding week last year were minus 224 K bu
· ATI Research: U.S. corn dent for the week ending Aug. 7 was approx. 7% in 2015 with the 5-year avg. at approx. 11%
SOYBEANS/WHEAT
· U.S. old-crop soybean export sales for week end July 28: 19.9 mbu v. trade range of 11-22 & minus 16.4 mbu last year
· T-storm Weather: Beyond Aug. 12, a few areas of showers and thunderstorms most likely continue as waves of energy continue to flow through the central U.S. despite a seasonably-cooler pattern
· ATI Research: 5-year avg. show U.S. soybeans blooming up approx. 9% from July 31-Aug. 7; would up ‘16 total to 94%
· ATI Research: U.S. wheat export sales for week end July 28-12.0 mbu, down 36% v. 4-week avg. & 61% below last year
· Chicago September 2016 wheat futures closed at $4.03 ¼ Thu.; one year ago, Sept. 2015 contract settled at $5.07
ENERGY
· Lower: CLU16, -0.38, $41.55; EBV,-0.45; EBV-CLU, $2.26, -$.10; RBU, -.0135; NGU, -.037; HOU, -$.0182
· A firmer trend was noted in cash ethanol markets on Thursday: Chicago up 3; New York added 5/8; Gulf gained 3 ¼; Tampa and Dallas increased 2; and LA was 2 higher at $1.54 per gallon
· Ethanol RINs weaker: 2014’s declined 2 ½ to 87 ¼-90 ¾; 2015’s off 2 ½ at 87 ¼-90 ¾; & 2016’s down 2 ½ to 87-90 ½
· The Sep RBOB/Aug ethanol inverse reversed course slightly, increaseding $.0109 to -$.03600/gal Thursday
LIVESTOCK/POULTRY </wbr>
· Choice boxed beef values firmed 6-cents on Thursday to $199.26, and are 50-cents higher vs. last week
· Dressed steer weight week end July 23: 880 lbs., unchanged v. last week, 871.75 for the 4-week avg. & 884 last year
· USDA mandatory pork carcass cutout value was $1.38 higher on Thu. at $77.46, but is still down $1.88 vs. a week ago
· CME Lean Hog Index was $0.60 lower on Thu. at $71.01. August futures down $0.65 and are $3.31 below the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather