Afternoon Commodities Report from Allendale for August 30, 2012

Posted on August 30, 2012

Corn exports came in below expectations. Russia also reiterated that it will not ban wheat exports. These things joined to douse the momentum that yesterday’s rally in wheat and corn generated.

Closing Prices (per bushel unless otherwise stated)

Contract Commodity Last Change
Dec 2012 Corn $8.0800 -0.0550
Dec 2012 Wheat $9.0300 +0.0275
Nov 2012 Soybeans $17.6125 +0.0825
Sep 2012 Soybean Oil (Metric Ton) $56.5700 -0.0700
Sep 2012 Soybean Meal (Metric Ton) $548.4000 +5.1000

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.