Traders seem to think the Plains’ wheat crop is in good enough shape while a series of major USDA reports wait in the wings. For the week, the nearby wheat contract sold off 8 cents while March corn added 14 cents. Changes in weather patterns were not enough to overcome a private estimate of a smaller South American crop. But whoa, Nelly, here came Friday with a volatile session. The March soybean contract jumped higher by 71 cents. March meal increased $25.90 per ton. March cotton expanded by $2.52 per hundredweight. Over in the dairy parlor, February Class III milk futures rose 86 cents.

Market to Market - Market Analysis

Market Analysis: Jeff French

Grains rallied on weather reports before selling off at the end of this holiday-shortened trading week. For the week ending Thursday, the nearby wheat contract dropped 32 cents while March corn declined a dime. A little re-balancing coupled with mixed reports of moisture in South America impacted the soy complex. The March soybean contract weakened two cents. March meal added $3.20 per ton. March cotton expanded by $5.22 per hundredweight. Over in the dairy parlor, January Class III milk futures improved 84 cents. A mixed week in the livestock sector as February cattle added 35 cents.

Market Analysis: Don Roose

We are producing the show on Wednesday with a better understanding of the severity of last week’s storm in the southern Plains and how it has impacted the holiday-shortened trade week. For the week, the nearby wheat contract added 39 cents while March corn improved nine cents. The continued dry pattern in South America and a technical chart move impacted the soy complex. The January soybean contract increased 44 cents. January meal strengthened $23.30 per ton. March cotton expanded by $1.53 per hundredweight. Over in the dairy parlor, January Class III milk futures went up 18 cents.

Market Analysis: Elaine Kub

The weather also played a factor in the trade, both domestic and globally, as different stories developed as the week progressed. For the week, the nearby wheat contract declined a dime while March corn improved three cents. Technical chart bulls were encouraged by action this week in the soy complex as soy oil helped the fundamental side of the ledger. The January soybean contract added 18 cents. January meal increased $12.70 per ton. March cotton expanded by $1.07 per hundredweight. Over in the dairy parlor, January Class III milk futures fell 47 cents.

Market Analysis: Naomi Blohm

The USDA report came and went with little reaction from the trade. Ending stocks for wheat were increased while the supply and demand tables remained the same in corn and beans. For the week, the nearby wheat contract fell 19 cents while March corn added 6 cents. China did return to some buying of U.S. grain, but it was meal that led the soy complex. The January soybean contract added a penny. January meal improved $8.20 per ton. March cotton expanded by $2.03 per hundredweight. Over in the dairy parlor, January Class III milk futures jumped $1.11. A mixed week in the livestock sector.

Market Analysis: John Roach

John Roach discusses the commodity markets.

USDA announced a change in their September Crop Production report that could ultimately update planted and harvest acreage estimates. The market is moving ahead of next week’s report and also digesting ample rain and shipping problems in Louisiana. For the week, December wheat subtracted six cents while the nearby corn contract declined 30 cents. Timely rains has some saying it could help fill pods, but others contend it is too little too late. The November soybean contract shed 31 cents. December meal lost $11.40 per ton. December cotton fell 82 cents per hundredweight.

The U.S. dollar weakened following the Fed’s announcement they will more likely than not begin tapering bond purchases. The lower dollar helped some of the commodities this week, as did a hot and dry weather pattern for much of the Grain Belt. For the week, December wheat added four cents while the nearby corn contract improved 17 cents. China’s interest and purchases in the soy complex were enough to overcome Friday’s trade lower. The November soybean contract expanded 33 cents. December meal lost $2.50 cents per ton. December cotton increased $1.70 per hundredweight.

Chinese buying, private predictions of lower yields, and chances for rainy weather made for a mixed finish in the commodity markets. For the week, September wheat gained 15 cents as the nearby corn contract added 8 cents. Soybeans had a volatile week as the soy complex battled the same factors which pushed the September contract lower by 11 cents. September meal gained $4.50 per ton. December cotton added $2.31 per hundredweight. In the dairy parlor, September Class III milk gained 13 cents. Another mixed week in the livestock sector as October cattle gained 68 cents.

Good wheat harvest yields along with rain in the current and extended forecasts sent many bulls to the exits as the corn crop entered pollination. For the holiday-shortened week, September wheat dropped 38 cents while the nearby corn contract plummeted 63 cents or more than 10 percent. If rain makes grain, precipitation ends participation by those looking for long positions in the soy complex. For the week, the August contract dropped 54 cents. August meal decreased $27.40 per ton. December cotton improved 74 cents per hundredweight.

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Market to Market - Market Analysis

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