Market Highlights
September 2, 2010
The Bottom Line
1. Overnight grain markets were slightly lower for corn and higher for beans and wheat.
2. This morning’s export sales were solid for corn and wheat and at the low end of the estimates for beans. Soymeal sales were better than expected at 378,000 tons when the high end of the estimates were for 325,000 tons.
3. Yesterday afternoon FC Stone lowered their corn estimates to 13.195 with a yield of 162.9.
4. FC Stones’s bean estimates were 3.390 and a yield of 43.5.
5. This morning the weather for the majority of the corn-belt appears to be non-threatening.
6. The markets will be closed on Monday September 6 for Labor Day. The markets will re-open Monday night at 6pm CST.
7. As of this writing the stock market is unchanged while the dollar index is trading lower. Crude oil is trading slightly lower and gold is $5.70 higher.
