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Futures
@C - CORN - CBOT
Month Last Change Open High Low Close Time More
Mar 24 488'0 0'0 487'4 488'2 486'2 488'0 12:27A Chart for @C4H Options for @C4H
May 24 499'4 0'0 499'0 499'4 497'6 499'4 12:27A Chart for @C4K Options for @C4K
Dec 24 513'4 0'2 512'6 513'4 512'0 513'2 12:27A Chart for @C4Z Options for @C4Z
@S - SOYBEANS - CBOT
Month Last Change Open High Low Close Time More
Jan 24 1315'4 3'6 1312'4 1318'2 1310'4 1311'6 12:27A Chart for @S4F Options for @S4F
Mar 24 1333'4 3'2 1330'6 1336'2 1329'2 1330'2 12:27A Chart for @S4H Options for @S4H
Nov 24 1276'4 2'0 1273'0 1279'0 1273'0 1274'4 12:28A Chart for @S4X Options for @S4X
@W - WHEAT - CBOT
Month Last Change Open High Low Close Time More
Mar 24 644'2 2'0 641'0 644'6 638'0 642'2 12:26A Chart for @W4H Options for @W4H
May 24 650'2 0'6 648'6 651'2 645'4 649'4 12:26A Chart for @W4K Options for @W4K
Jul 24 652'4 -0'4 650'6 654'0 649'0 653'0 12:26A Chart for @W4N Options for @W4N
@YM - E-MINI DOW JONES $5 - CBOT
Month Last Change Open High Low Close Time More
Dec 23 36179.00 13.00 36147.00 36188.00 36135.00 36166.00 12:27A Chart for @YM3Z Options for @YM3Z
My Custom Markets
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Closing Market Comments

12-7-23

 
 
Good afternoon. All 3 markets traded mostly higher today at the CBOT as traders added weather premium ahead of tomorrow's WASDE report. Fresh Chinese interest for corn, soybeans and wheat was also noted. Corn futures finished up 3-4 cents, soybean futures up 12-14 cents, and the Chicago wheat market up 4-9 cents. Soybean products traded mostly higher today also, led by soybean oil.
 
CONAB released their December monthly supply and demand report this morning and lowered production estimates for both corn and soybeans. They pegged soybean production at 160.177 MMT's vs 162.421 last month and 154.609 last year. Most private estimates closer to 150. Total corn production was estimated at 118.528 MMT's vs 119.066 last month and 131.946 last year. Safrinah corn crop seen at 91.3 MMT's vs 102.4 last year; safrinah seeded area down approx. 750 mil ha's vs last year. CONAB also raised 22/23 corn exports 4 MMT's and soybeans exports 2 MMT's.
 
USDA/FAS reported daily sales of 120,000 MT's of soybeans to unknown this morning. Today's weekly export sales report fell within trade expectations for corn, soybeans, and wheat. Corn commitments are up 35% on the year while shipments are up 31%. Soybean commitments down 17%, shipments down 13%. And wheat commitments are down 4%, shipments down 17%.
 
The GFS was noticeably drier in the noon run than the overnight, specifically in the 11-15 day period across the North of Brazil. Normal to above normal rains in the South. Confidence remains lacking in the long range forecast. Argentina's forecast remains favorable with another rain event noted next weekend.
 
Dec. WASDE report out tomorrow at 11am central. Key will be whether USDA follows CONAB in production cuts. US balance sheets unlikely to see much change for either corn or soybeans. Next US crop production update will come in the January report.
 
Outside markets traded mostly mixed/quiet. Crude oil futures traded to a new 5-month low before reversing course to trade higher/unchanged this afternoon. Russian President Putin's recent meeting with Saudi Crown Prince Mohammed bin Salman in Saudi Arabia yesterday yielded a fresh call for all OPEC+ members to join an agreement on production cuts. The stock market spent most of the day in the green as this morning's jobless claims report was better than expected. US unemployment report tomorrow morning will key investor sentiment into the weekend.
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 

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Local Radar
Assumption, IL
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Local Forecast
Assumption, IL
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Tuesday
High: 57°F
Low: 45°F
Precip: 80%
High: 55°F
Low: 37°F
Precip: 66%
High: 37°F
Low: 26°F
Precip: 0%
High: 42°F
Low: 22°F
Precip: 0%
High: 48°F
Low: 30°F
Precip: 0%
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Local Conditions
Assumption, IL
Chg Zip Code: 
Temp: 47oF Feels Like: 41oF
Humid: 68% Dew Pt: 37oF
Barom: 29.8 Wind Dir: S
Cond: N/A Wind Spd: 16 mph
Sunrise: 7:04 Sunset: 4:32
As reported at Myer’s Farms, IL at 11:00 PM
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