ADMIS Noon Grain Comments September 9, 2011 Grain ...
ADMIS Noon Grain Comments
September 9, 2011
Grain futures are slightly lower at midsession. Corn and soybeans are down about 1-3 cents. Chicago wheat is down about 4 cents. The trading has been on both sides of unchanged, lacking follow through either way. A sharply higher dollar explains the bearish sentiment. The losses are limited as longs are unwilling to give up just yet with generally bullish numbers expected in Monday’s USDA SupplyDemand report. A selling theme is much more noticeable in other commodities, seeing crude oil, copper, and cotton as prime examples of a sharply lower trade. The November soybean chart still looks like consolidation, trading within the range seen previously this week. The corn and wheat charts have made new lows for the move, continuing the correction from the late-August highs. Directionals are trending down for all three to favor the sell side from a technical perspective. The fundamental perspective is largely on hold ahead of Monday’s reports and more input about the likelihood of freezes next week in the upper tier of Midwestern states, suggesting more two-sided trading unless the money flow is influenced by the bearish outside markets. --- Brian Brase SIGNIFICANT CORN AND SOYBEAN BELT PRECIPITATION EVENTS WEST CORN BELT EAST CORN BELT Tdy-Sun 20% cvg of 0.05-0.30” 85% cvg of 0.05-0.30” and local amts to 0.65”; and local amts to 1.0” Mo. wettest Mon 20% cvg of up to 0.25” Mon-Tue 30% cvg of up to 0.20” and local amts to 0.35” wettest northeast Tue-Wed 60% cvg of up to 0.20” and local amts to 0.50” Wed 10% cvg of up to 0.25”; wettest south Thu-Sep 16
Thu-Sep 17
141 West Jackson Blvd. Suite 1600A Chicago, IL 60604 www.admis.com
25% cvg of up to 0.25” and locally more; wettest central and south Up to 20% daily cvg of up to 0.30” and locally more each day
The information and comments contained herein is provided by ADM Investor Services, Inc. (“ADMIS”) and NOT Archer Daniels Midland Company. Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. This report includes information from sources believed to be reliable and accurate as of the date of this publication, but no independent verification has been made and we do not guarantee its accuracy or completeness. Any reproduction or retransmission of this report without the express written consent of ADM Investor Services, Inc. is strictly prohibited. Again, the information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by Archer Daniels Midland Company. Copyright © ADM Investor Services, Inc.
September 9, 2011
Grain futures are slightly lower at midsession. Corn and soybeans are down about 1-3 cents. Chicago wheat is down about 4 cents. The trading has been on both sides of unchanged, lacking follow through either way. A sharply higher dollar explains the bearish sentiment. The losses are limited as longs are unwilling to give up just yet with generally bullish numbers expected in Monday’s USDA SupplyDemand report. A selling theme is much more noticeable in other commodities, seeing crude oil, copper, and cotton as prime examples of a sharply lower trade. The November soybean chart still looks like consolidation, trading within the range seen previously this week. The corn and wheat charts have made new lows for the move, continuing the correction from the late-August highs. Directionals are trending down for all three to favor the sell side from a technical perspective. The fundamental perspective is largely on hold ahead of Monday’s reports and more input about the likelihood of freezes next week in the upper tier of Midwestern states, suggesting more two-sided trading unless the money flow is influenced by the bearish outside markets. --- Brian Brase SIGNIFICANT CORN AND SOYBEAN BELT PRECIPITATION EVENTS WEST CORN BELT EAST CORN BELT Tdy-Sun 20% cvg of 0.05-0.30” 85% cvg of 0.05-0.30” and local amts to 0.65”; and local amts to 1.0” Mo. wettest Mon 20% cvg of up to 0.25” Mon-Tue 30% cvg of up to 0.20” and local amts to 0.35” wettest northeast Tue-Wed 60% cvg of up to 0.20” and local amts to 0.50” Wed 10% cvg of up to 0.25”; wettest south Thu-Sep 16
Thu-Sep 17
141 West Jackson Blvd. Suite 1600A Chicago, IL 60604 www.admis.com
25% cvg of up to 0.25” and locally more; wettest central and south Up to 20% daily cvg of up to 0.30” and locally more each day
The information and comments contained herein is provided by ADM Investor Services, Inc. (“ADMIS”) and NOT Archer Daniels Midland Company. Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. This report includes information from sources believed to be reliable and accurate as of the date of this publication, but no independent verification has been made and we do not guarantee its accuracy or completeness. Any reproduction or retransmission of this report without the express written consent of ADM Investor Services, Inc. is strictly prohibited. Again, the information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by Archer Daniels Midland Company. Copyright © ADM Investor Services, Inc.
