Friday, September 18, 2015 AgriVisor Afternoon MarketWatch

Friday, September 18, 2015
***** Corn futures end 2 1/2 lower after trading a five cent range; soybeans tumble 16 to 17 1/4 cents; Chicago wheat gains a nickel. *****

# Soybeans took a hit as field reports have early yields beating expectations. 
# Ahead of the September 30 Small Grains report, Informa projects the 2015 wheat crop at 2.106 billion bushels versus USDA at 2.136. The analysts suggest corn acreage could drop by 493,000 acres, soybeans 1.367 million by January. 
# Egypt turned to Russia, Ukraine, France to supply 230,000 metric tons of wheat for its latest tender. Average price paid was $191 per ton. 
# SAFRAS of Brazil estimates the country's soybean output to beat 100 million metric tons. 
# There is a chance of severe thunderstorms across the central Midwest this evening. The outlook is warmer, drier over the next two weeks. 
# Outside markets weighed on the grains Friday. Equities tumbled after the Fed's interest rate decision. Oil prices plummeted as the dollar recovered most of Thursday's losses. 
# Government agriculture workers in Brazil are on strike, refusing to issue export permits. Traders are shrugging the development off as something that will be resolved quickly.
# Traders look for Monday's Crop Progress report to show corn harvest 11 percent complete with 4 percent of the soybean crop cut. 
# Chinese delegates are visiting the Midwest and are soon expected to make a large goodwill purchase of soybeans. 

***** Lean hogs futures settle $0.35 lower to $0.625 higher; live cattle drop $0.90 to $1 as feeders lose $3 to $4. *****
# The Cattle on Feed report leans bullish. Placements were 95 percent of the year-ago tally versus expectations of no change. On-feed cattle at 103 percent and marketings at 94 percent were fully anticipated. 
# Lean hog futures sustain bullish technical momentum and post just fractional losses on the day. The board's discount to the cash market continues lends fundamental support.