Afternoon Commodities Report from Allendale for September 11, 2012

Posted on September 11, 2012

Corn has closed below $7.80 while soybeans tumbled to $17 per bushel heading into tommorrow’s WASDE report from the USDA. I am surprised given the speculation and hype surrounding the possible implementation of QE3. Of course this hype was created by certain financial media outlets and not the Federal Reserve.

Closing Prices (per bushel unless otherwise stated)

Contract Commodity Last Change
Dec 2012 Corn $7.7775 -0.0550
Dec 2012 Wheat $8.8400 -0.0575
Nov 2012 Soybeans $17.0000 -0.1875
Sep 2012 Soybean Oil (Metric Ton) $55.4000 -0.7400
Sep 2012 Soybean Meal (Metric Ton) $517.3000 -3.7000

Afternoon Commodities Report from Allendale

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The Author of this post has a bear credit spread in Corn futures. 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