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E-mail: Michael J. Silver
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Friday September 15, 2017 

TODAY'S MARKET BULLETS

 

There was very little fresh news to move the grain markets today.

Corn futures closed up ½ cent, wheat up 6 cents and soybeans

down 7 ¼ cents.  Weather looks favorable to crop development

and field dry down into Monday.  There are some scattered

chances of rainfall early next week. 

 

There are a few new crop soybeans and some new crop corn being

harvested today. 

 


USDA increased both corn and soybean yields and total production

in the September WASDE report.  See the following table

for the numbers and comparisons to last month:
 

 

Global 2016/17 Carryout (in million tonnes)

 

 

USDA Sept 2017

Average Trade Est.

INTL Estimate 

Range of Trade Est.

USDA Aug 2017

Corn

227.0

227.99

226.10

225.1-229.1

228.61

Soybeans

96.0

96.80

95.50

95.5-98.0

96.98

Wheat

255.8

258.57

258.50

257.5-259.0

258.56

 

 

 

Global 2017/18 Carryout (in million tonnes)

 

 

USDA Sept 2017

Average Trade Est.

INTL FCS Estimate

Range of Trade Est.

USDA Aug 2017

Corn

202.5

200.74

189.40

189.4-223.0

200.87

Soybeans

97.5

97.39

97.20

95.2-99.5

97.78

Wheat

263.1

264.30

265.20

258.0-268.0

264.69

 


USDA 2017/17 U.S. Carryout (in billion bushels)

 

 

USDA Sept 2017

Average Trade Est.

INTL FCS Estimate 

Range of Trade Est.

USDA Aug 2017

Corn

2.350

2.340

2.335

1.964-2.380

2.370

Soybeans

0.345

0.370

0.345

0.331-0.477

0.370

 


USDA 2017 Yield (in bushes per acre)

 

 

USDA Sept 2017

Average Trade Est.

INTL FCS Estimate 

Range of Trade Est.

USDA Aug 2017

Corn

169.9

168.2

166.9

166.7-170.9

169.5

Soybeans

49.9

48.8

49.8

47.1-49.8

49.4

 



USDA 2017 Production (billion bushels)

 

 

USDA Sept 2017 

Average Trade Est. 

INTL FCS Estimate

Range of Trade Est.

USDA Aug 2017

Corn

14.184

14.035

13.936

13.878-14.249

14.153

Soybeans

4.431

4.328

4.417

4.179-4.417

4.381

 


USDA 2017/18 U.S. Carryout (in billion bushels) 

 

 

USDA Sept 2017

Average Trade Est.

INTL FCS Estimate 

Range of Trade Est.

USDA Aug 2017

Corn 

2.335

2.180

2.056

1.898-2.420

2.273

Soybeans

0.475

0.442

0.487

0.375-0.524

0.475

Wheat

0.933

0.920

0.883

0.875-0.943

0.993


THE NEXT USDA WASDE REPORT WILL BE RELEASED THURSDAY OCTOBER 12, 2017
 

Take a few minutes to read Dr. Cordonnier's weekly update:

Corn & Soybean Advisor
www.soybeansandcorn.com

 

 
Dow Jones Industrial Average

  

 

Futures Closes 

9/15/2017

 

Commodity        

Symbol

Close

Change

 

 

 

 

 

 

 

 

 

 

 

 

Dec 17 Corn

CZ17

354 3/4

0.50

 

 

 

 

       

Nov 17 Beans

SX17

968 3/4

-7.25

SOYBEAN/CORN '17

SX17/CZ17

2.73

-0.02

 

 

 

 

Dec  17 Wheat

WZ17

468   

5.50

US Dollar Index      

DX

91.90

-0.217

Crude Oil

CLG17

49.89

0.00

Ethanol - Dec

AC

1.47

0.0000

       

Today vs Last Friday Close

Today

Last Friday

Change

 

 

 

 

Dec 17 Corn

354 3/4

356 3/4

-2.00

 

 

 

 

 

 

 

 

Nov 17 Beans

968 3/4

962   

6.75

   

 

 

 

 

 

 

Dec  Wheat   

449   

437 3/4

11.25

 

 

 

 For you to bookmark and visit (click the links):

USDA Office of the Chief Meteorologist
Weather and Climate
Weather is one of the key factors affecting prospects for crop production and commodity prices. In 1978 the World Board and the National Oceanic and Atmospheric Administration formed the Joint Agricultural Weather Facility (JAWF). Housed at USDA, JAWF monitors the weather and assesses its likely impact on crops around the world. Regular briefings by Board experts are an important information source for USDA commodity forecasters as well as for the Secretary of Agriculture and other top officials at the Department.

Take a few minutes to review the following (click the hyperlink):

Prospective Plantings Grain Stocks Rice Stocks
Executive Summary
Lance Honig, Chief Crops Branch, USDA

https://www.nass.usda.gov/Newsroom/Executive_Briefings/2017/03_31_2017.pdf

 

 

COMMITTMENTS OF TRADERS REPORT (COT ) - FUND POSITION
DATE                          CORN       SOYBEANS        WHEAT


 

 

9/6/2016

-186,127

77,299

-137,451

9/13/2016

-151,547

72,886

-129,643

9/20/2016

-156,033

86,782

-130,562

9/27/2016

-177,733

54,612

-134,573

10/4/2016

-153,096

61,991

-155,196

10/11/2016

-121,914

68,798

-137,243

10/18/2016

-51,986

88,272

-100,865

10/25/2016

-60,646

99,466

-124,421

11/1/2016

-52,761

111,808

-108,578

11/8/2016

-13,478

125,121

-110,926

11/15/2016

-74,300

96,753

-131,867

11/22/2016

-45,638

115,644

-111,108

11/29/2016

-65,111

137,371

-121,929

12/6/2016

-65,428

124,758

-124,098

12/13/2016

-69,050

121,859

-102,068

12/20/2016

-95,526

111,993

-113,534

12/27/2016

-109,602

107,293

-119,665

1/3/2017

-94,034

98,254

-114,619

1/10/2017

-77,478

99,748

-96,583

1/17/2017

-53,768

137,221

-97,245

1/24/2017

17,760

186,103

-100,372

1/31/2017

4,828

159,467

-107,726

2/7/2017

31,089

156,306

-91,818

2/14/2017

97,199

174,701

-48,122

2/21/2017

106,758

161,595

-37,551

2/28/2017

87,567

129,690

-59,233

3/7/2017

87,020

124,065

-65,521

3/14/2017

-27,352

93,544

-110,092

3/21/2017

-84,118

60,639

-133,166

3/28/2017

-151,798

36,798

-144,878

4/4/2017

-141,759

-4,358

-147,121

4/11/2017

-147,243

-33,963

-140,835

4/18/2017

-160,377

-49,190

-154,345

4/25/2017

-180,360

-52,475

-171,269

5/2/2017

-170,603

-51,483

-123,214

5/9/2017

-203,976

-38,353

-113,819

5/16/2017

-200,695

-39,312

-130,695

5/23/2017

-173,188

-69,775

-120,701

5/30/2017

-198,114

-93,790

-121,605

6/6/2017

-127,078

-101,752

-112,413

6/13/2017

-4,015

-90,790

-85,706

6/20/2017

-50,327

-96,433

-11,789

6/27/2017

-105,570

-125,912

-10,437

7/3/2017

-37,607

-82,630

23,997

7/11/2017

115,066

7,212

53,971

7/18/2017

107,803

31,265

46,757

7/25/2017

106,678

35,953

33,051

8/1/2017

81,443

26,516

14,739

8/8/2017

63,862

813

-12,054

8/15/2017

28,885

-22,651

-36,337

8/22/2017

-26,023

-35,295

-68,790

8/29/2017

-63,532

-32,677

-70,126

9/5/2017

-103,898

-12,529

-79,685

9/12/2017

-116,334

-7,246

-76,704

Wkly Change

-12,436

5,283

2,981

Record +

409,444

240,937

73,662

Record -

-236,201

-93,790

-171,269

Est Today

 

 

 

Change

 

 

 

 

The daily fund "players sheet" was not available at the

time these comments were posted on Friday 9/15.

 

Each Thursday I do  market analysis for Hoosier AgToday (HAT) that is podcast and excerpted
for airing in HAT segments on broadcast radio across Indiana.

You can find that audio on the HAT daily podcast or podcast player. The direct link is
http://www.hoosieragtoday.com/podcastplayer2.html.


Kokomo Grain Cash Grain Prices
http://www.kokomograin.com/index.cfm?show=11&mid=16


CROP INSURANCE CORNER
 

Spring prices for crop insurance were determined during

the month of February. 

RMA “official” spring crop insurance prices are:
                             Spring Price         Volatility factor

Corn                         3.96 /bu                       0.19

Soybeans              10.19 /bu                        0.16

Popcorn                0.1703 / #                        0.19

 

 

Ag Economy Barometer Widget



Follow me on Twitter @MikeSilverSr 

USDA WASDE Supply/Demand

http://www.agmanager.info/marketing/outlook/wasde/

For additional Market News and Information
www.AgriMoney.com

http://farmdocdaily.illinois.edu/

 
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