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MARKET TREND—Steady/weaker: CZ, $.00; SX, -$.0275; WZU, -$.0455; KWZ, -$.0350.
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MACRO: Today markets seem to be taking a very blasé attitude towards the U.S./China trade riff. ASIA: Slightly higher: Nikkei, +0.01%; Shanghai, -0.06%; Hang Seng, +0.26%. EUROPE: Higher: DAX,+0.40%; FTSE, +0.21%; CAC, +0.64%. WALL STREET: Futures are firm:DOW, +24; S&P, +1.75; NAS, +6.75. EXTERNALS: Oct crude: +$0.30 @ $69.77; Dec Gold: -$0.40 @ $1,208; Dec $ Index, -0.264 @ 93.855.
· T-storm Weather: Thunderstorms focus on the northwest half of the Corn Belt today, then the central and southern Plains from Thu. night through Fri. night, then the Delta and southeast Corn Belt Sat.-Sun., then a wide area within Mon.-Wed. A sharply cooler to chilly period follows from late next week forward (including highs of ~25F cooler than recently), inducing the first frosts and freezes of the season in northern areas of the Corn Belt and Plains from next Wed.-Thu. forward (accompanied by drying)
· CZ, unch @ $3.4475; CH, up $.0025 @ $3.5825. The funds were said to be buyers of 4 K at mid-week
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SX, dn $.0275 @ $8.2725; SF, dn $.0275 @ $8.41. Funds bot 5 SB, 5 SBM & 1 SBO. Board Crush: $1.44, -1, LY: $.85
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WZ, dn $.0450 @ $5.18; WH, dn $.04 @ $5.3625. Estimated fund buying yesterday indicated at 6 K on higher foreign values
CORN/SORGHUM
· Export Sales to be released at 7:30 am CDT. Trade expects 20-47 mbu for 18/19 corn
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T-storm Weather: Heavy thunderstorms produce 1.25”-2.50” of rain across northwest third to half of Corn Belt & adjacent areas of Plains through today. Areas to immediate south stay dry & unseasonably warm, aiding corn harvest
· ATI Research: Rapid development of 2018 U.S. corn crop is highlighted by corn mature; U.S. corn mature on average increases approx. 17% over Sep. 16-23 to approx. 53%; however, corn mature as of Sep. 16 was already at 54%
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Ethanol grind: Total of 1,051,000 barrels/day for week end Sep. 14—up 31 thou v. prior week & up 1.7% v. last year
SOYBEANS/WHEAT
· Export Sales report. Trade expects 15-33 for 18/19 soybeans; soymeal, -50 to +50 K MT for 17/18 and 100-300 for 18/19; soyoil, 0-10 K MT for 17/18 and 0-20 for 18/19
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T-storm Weather: Soybeans across central U.S. turn wet from northwest to southeast over the next week; stormy period ends Sep. 25-26 as temps plummet, inducing first frosts/freeze of season in northern areas Sep. 26-27 forward
· Export Sales report. Trade expects 9-18 mbu for 17/18 all wheat
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T-storm Weather: Dryness persists across Australia’s wheat production areas over the next 10 days. Temperatures remain very cool in the east
ENERGY
· Higher: CLV18, +$0.30 @ $71.42; EBX, +$0.07 @ $78.47; EBX-QCLX,-$0.18; RBV, +0.0081; NGV, -.004; HOV, +.0088
· Chicago ethanol eased 1 1/8 of a cent to $1.25 ½; the basis to Chicago were mixed—New York, +$0.0850; Gulf, +$0.0850; Dallas, +$0.07; Tampa, +$0.1950; and LA, +$0.2900
· Ethanol RINs continue to work lower: 2017’s @ 12 ½ -13 ½, down ¾; 2018’s, 18 ½ -19 ½, also down ¾
· The Oct RBOB/Oct ethanol spread widened further on Wednesday, gaining $.0328 to +$.7707 per gallon
LIVESTOCK/POULTRY  
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Choice boxed beef values were $1.04 lower on Wednesday at $204.25 and are down 54-cents vs. a week ago
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Estimates for Sep. 21 USDA Cattle on Feed: Sep. 1 on feed, 105.3%; Placed in Aug, 104.0%; Marketed in Aug, 100.1%
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USDA mandatory pork carcass cutout value firmed 41-cents on Wed. to $76.63 and is up $6.79 compared to last week
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CME Lean Hog Index was up $1.41 on Wed. at $55.99. October futures firmed $0.825 & are $4.01 above the index
Sources: Bloomberg, Dow Jones, AP, DTN, T-storm Weathe