HIGHLIGHTS
•   • MARKET TREND—Mostly higher: CZ: up $.0175; SX: up $.04; WZ: up $.0250; KWZ: up $.0225
• • MACRO: U.S. markets finished with modest gains; today’s meager performance possibly due to Fed meeting & Yellen’s future. ASIA—Lower: Nikkei, -0.29%; Shanghai, -0.38%; Hang Seng, -0.42%. EUROPE: Mixed: DAX, -0.21%; FTSE, +0.10%; CAC, unch. WALL STREET—Futures are trifle weaker—DOW, -3; S&P, -1.25; NAS, -5.50. EXTERNALS: $ Index: -.178 @ 92.095; Gold:-$0.50 @ $1,3234; Oct crude:+$0.31 @ $49.61/bl. Deliveries: SBM, 115; SBO, 315; RR, 105; C, 87; HRW, 19; SB, 0; SRW, 4
• • T-storm Weather: In the U.S., two systems produce widespread rain over Thu.-Sun. within winter wheat areas of the northern Plains, & some rain within corn & soybeans areas of the northern Plains & northwest Corn Belt. Organized rain follows next week within the Corn Belt, especially the western half. The end result is that widespread rain of 0.50"-1.50" affects most of the central U.S. through 10 days. Temperatures will be unseasonably mild over much of the period, preventing a meaningful frost threat
• • CZ, up $.0175 @ $3.5325; CH, up $.0175 @ $3.6550. Fund selling was estimated at 5 K at mid-week
• • SX, up $.04 @ $9.6450; SF, up $.04 @ $9.7475. Funds: Bought 5 SB, 3 SBM, sold 1 SBO. Board crush: $.87, +1; LY, $.81
• • WZ, up $.0250 @ $4.4475; WH, up $.0250 @ $4.6525. Fund buying totaled 1 K yesterday
CORN/SORGHUM
•   • Export Sales to be released at 7:30 am CDT. Trade expects 31-43 mbu for 17/18 corn
• • ATI Research: U.S. corn dent on average increases approximately 9% over Sep. 10-17 to approximately 90%, while corn mature on average increases approximately 14% over Sep. 10-17 to approximately 45%
• • T-storm Weather: Thunderstorms return to corn areas of Argentina in 7 to 10 days when a system (or series of systems) passes
• • Ethanol grind: Total of 1,047,000 barrels/day for week end Sep. 8—dn 13 thou v. prior week but up 4.3% v. last year
SOYBEANS/WHEAT
• • Export Sales report. Trade expects 37-48 for 17/18 soybeans; soymeal, 0-150 K MT for 16/17 and 50-250 for 17/18; soyoil, 0-20 K MT for 16/17 and 0-20 for 17/18
• • T-storm Weather: Upper-level high pressure keeps most Brazil soybean areas dry over the next 10-14 days, including Parana. Although dry weather is somewhat atypical of Parana in September, it is not entirely uncommon for the state
• • Export Sales report. Trade expects 13-20 mbu for 17/18 all wheat
• • T-storm Weather: A few showers occur in the Australian states of Victoria & South Australia over the next 7-10 days. Otherwise, dryness intensifies across Australia’s remaining wheat areas, leading to unfavorable growing conditions
ENERGY
• • Mixed: CLV17, +$.31 @ $49.61; EBX, +$0.31 @ $54.47; EBX-QCLX, +$.04; RBV, -.0123; NGV, -.009; HOV, +.0046
• • Modest gains were seen in cash ethanol markets on Wednesday: Chicago climbed 3/8; New York added ¾; Gulf, Dallas and Tampa firmed ½; and LA was 1 higher at $1.69 ½ per gallon
• • Ethanol RINs declined slightly on Wednesday: 2016’s and 2017’s down 5/8 to 84-85
• • The Oct RBOB/Oct ethanol spread gave up $.022 on Wednesday, settling at +$.08430/gallon
LIVESTOCK/POULTRY
•   • Choice boxed beef values eased 39-cents on Wednesday to $190.40, and are down $2.53 vs. a week ago
• • Since posting a calendar year 2017 high of $252.52 on June 12, choice boxed beef values have fallen $62.12 (24.6%)
• • USDA mandatory pork carcass cutout value declined 24-cents on Wed. to $79.46, and is $3.86 lower vs. last week
• • CME Lean Hog Index fell $1.00 on Wed. to $66.37. October futures firmed $0.125 but are still $6.795 below the index
Sources: Bloomberg, Dow Jones, AP, DTN, T-storm Weather