Exports in Line with Expectations

In the overnight session the grains traded lower with corn down 4 cents, soybeans down 5 3/4 cents and wheat down 3 1/2 cents. The U.S. dollar is also trading lower by .26 percent and crude oil has slipped 55 cents. The number of unemployment applications fell last week by 11,000 to a seasonally adjusted 264,000 for the week ending September 12th which is a sign that the labor market is improving.

Export sales were in line with expectations this morning for all the grains. Corn booked 533,000 metric tons within expectations which ranged from 400,000-600,000 metric tons. Soybeans also met expectations with 912,000 metric tons sold this week. Soybean sales were mostly made up of sales to China and unknown destinations. Wheat booked 377,500 metric tons which was up 30 percent from last week. Wheat sales were within the expectations which ranged from 275,000-450,000 metric tons.

Ethanol production increased week over week by 3,000 barrels per day to 961,000 barrels per day. This is a strong start to the new marketing year, already 34,000 barrels ahead of last year during the same time period. Ethanol stocks declined this week by 351,000 barrels to 18.29 million barrels.

今天早上的战略谷物将其2015年欧盟玉米作物的预测减少了230万吨，至5740万吨。该公司还将其对欧盟软麦的预测提高了350万吨，达到1.475亿吨。

—Cody Bills