Afternoon Commodities Report from Allendale for August 27, 2012

Posted on August 27, 2012


Corn, wheat, and soybeans all closed lower today.

According to the Kansas City Board of Trade,  Egypt purchased two cargoes of Russian wheat and one cargo of Romanian wheat, as U.S. wheat is not competitive in the world marketplace.  The KCBOT also added that  traders continue to shift positions into the December contract ahead of first notice of delivery day on August 31st.

Closing Prices (per bushel unless otherwise stated)

Contract Commodity Last Change
Dec 2012 Corn $8.0025 -0.0825
Dec 2012 Wheat $8.8150 -0.0700
Nov 2012 Soybeans $17.3250 -0.1075
Sep 2012 Soybean Oil (Metric Ton) $55.9400 -0.3000
Sep 2012 Soybean Meal (Metric Ton) $533.1000 -0.3000

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.

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