Morning Commodities Report from Allendale for September 28, 2012

Posted on September 28, 2012

Wheat and corn surging this morning on the back of a reduction in stocks. The lingering questions I have is “How much will be sold at these price levels?” Recent export sales number revealed a mere 400 metric tons of corn sold in the previous week.  Will be looking closely over the next few weeks to see how sensitive price is to weekly export sales numbers.

Early trading prices (per bushel unless otherwise stated)

Contract Commodity Last Change
Dec 2012 Corn $7.3750 +0.2150
Dec 2012 Wheat $8.7400 +0.1850
Nov 2012 Soybeans $15.7450 +0.0375
Oct 2012 Soybean Oil (Metric Ton) $51.6200 -0.4900
Oct 2012 Soybean Meal (Metric Ton) $475.5000 +2.3000

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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

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