Afternoon Commodities Report from Allendale for August 23, 2012

Posted on August 23, 2012

Markets sold off today in the same strange way they had melted up on a couple of occasions over the last month or so. Even more confusing to me was how without reading the minutes themselves yesterday the market simply reacted to what media said was in the minutes. They did not read them either. I wrote a short summary of the minutes after reading them last night.

Closing Prices (per bushel unless otherwise stated)

Contract Commodity Last Change
Dec 2012 Corn $8.1425 -0.2050
Dec 2012 Wheat $8.9475 -0.2225
Nov 2012 Soybeans $17.2575 -0.2225
Sep 2012 Soybean Oil (Metric Ton) $56.1400 -0.0300
Sep 2012 Soybean Meal (Metric Ton) $527.6000 -8.1000

Afternoon Commodities Report from Allendale

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Disclosures: The Author of this post has a bear credit spread in Corn. Neither the author of this article or any family members own any futures contracts or options on futures in any of the other commodities mentioned in this article. For a complete disclosure of the policy on ownership of stocks/commodities written about or recommended, please see about page.