DTN Soybeans News

FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Mon, September 28 Exchange rate was 1.3367 down 0.0032 Chicago soybeans closed slightly lower. NOV20 HI 10.07 1/2 NOV21 HI 9.52 LOW 9.91 1/2 LOW 9.40 CLOSE9.96 1/4 Down 6 1/4 CLOSE 9.45 3/4 Down 2 1/2 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt ELEVATORS +NOV20+NOV20+JAN21 CK Low 2.70 12.66 465.27 2.45 11.91 437.53 CK High 2.75 12.71 467.10 2.45 11.91 437.53 CK Average 2.71 -0.48 12.67 465.70 2.45 -0.54 11.91 437.53 Essex Cty 2.70 12.66 465.27 2.45 11.91 437.53 Mdsx Low 2.70 12.66 465.27 2.43 11.89 436.79 Mdsx High 2.70 12.66 465.27 2.45 11.91 437.53 Mdsx Average2.70 -0.49 12.66 465.27 2.44 -0.55 11.90 437.16 Hensall 2.73 12.70 466.49 2.45 11.91 437.53 Bruce 2.70 12.66 465.27 2.45 11.91 437.53 Putnam 2.70 12.66 465.27 2.45 11.91 437.53 Burford 2.77 12.73 467.84 2.50 11.96 439.36 Port Perry 2.69 12.65 464.90 2.42 11.88 436.42 Norfolk 2.70 12.66 465.27 2.45 11.91 437.53 Palmerston 2.62 12.58 462.33 2.54 12.00 440.83 Varna 2.75 12.71 467.10 2.45 11.91 437.53 Trenton 2.70 12.66 465.27 2.45 11.91 437.53 Winchester 2.90 12.86 472.62 2.61 12.07 443.40 North Gower 2.80 12.76 468.94 2.56 12.02 441.57 Vankleek Hil2.94 12.90 474.09 2.58 12.04 442.30 Huron FOB 2.84 12.80 470.41 N/A Kent FOB 2.70 12.66 465.27 2.45 11.91 437.53 Lambton FOB 2.80 12.76 468.94 2.50 11.96 439.36 Mdsx FOB 2.83 2.83 3.10 N/A 12.79 470.04 2.64 12.10 444.51 PROCESSORS Windsor 3.10 13.06 479.96 2.59 12.05 442.67 TRANSFER Hamilton 3.20 13.16 483.64 2.85 12.31 452.22 Prescott 3.15 13.11 481.80 2.84 12.30 451.86 Port Colborn3.31 13.27 487.68 N/A Toledo El. -0.27 9.70 356.24 -0.47 8.99 330.33 Exchange rate was 1.3367 down 0.0032 Chicago wheat closed slightly to moderately higher. DEC20 HI 5.51 3/4 JUL21 HI 5.63 LOW 5.37 3/4 LOW 5.50 3/4 CLOSE 5.50 1/4 Up 6 CLOSE 5.62 Up 6 Minni wheat closed slightly lower. DEC20 HI 5.32 SEP21 HI 5.65 LOW 5.25 LOW 5.65 CLOSE 5.29 1/2 Down 1/4 CLOSE 5.65 Down 3/4 GFO Cash Wheat Prices - DEL Terminal Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 1.38 1.59 1.38 1.32 CAD $/bu 6.89 7.09 6.89 6.61 CAD $/tonne 253.07 260.44 253.07 242.88 Direct MarkHarvest 2020 Harvest 2021 DELIVERED BASIS DELIVERED BASIS Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M) ELEVATORS Brgssvll N/A N/A 1.05 N/A N/A N/A 1.15 N/A London 1.15 1.22 1.02 N/A 1.53 1.53 1.12 N/A Hensall 1.30 N/A 1.05 N/A 1.35 N/A 1.15 N/A Trenton N/A N/A N/A N/A N/A N/A 1.05 N/A Bruce 1.05 1.15 1.05 0.95 1.25 1.20 1.15 N/A Essex N/A N/A 1.05 N/A N/A N/A 1.20 N/A Norwich 1.30 N/A 1.05 N/A 1.35 N/A 1.15 N/A Port Hope N/A N/A 1.05 N/A N/A N/A 1.15 N/A Kent Bridge 1.30 N/A 1.05 N/A 1.35 N/A 1.15 N/A Chatham N/A N/A 1.05 N/A N/A N/A 1.20 N/A Brigden N/A N/A 1.05 N/A N/A N/A 1.20 N/A Palmerston N/A 1.52 1.12 1.18 N/A 1.72 1.25 0.83 Varna 1.10 1.10 1.05 N/A 1.30 1.20 1.15 N/A Mitchell 1.30 1.35 1.05 N/A 1.35 1.45 1.15 N/A Thornton N/A N/A N/A 1.23 N/A N/A N/A N/A North Gower N/A 1.40 1.25 1.00 N/A 1.66 1.47 0.92 W O Feed 1.67 TERMINAL Port Colbor N/A N/A 1.48 N/A N/A N/A 1.53 N/A PROCESSORS Toledo FM N/A N/A 1.85 N/A N/A N/A 2.02 N/A Toledo El. 5.40US 7.22CA 5.57US 7.44CA GFO Contract Wheat Prices - DEL Terminal Harvest 21 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M) Basis 1.75 1.89 1.55 1.10 CAD $/bu 7.37 7.51 7.17 6.75 CAD $/tonne 270.90 275.81 263.54 247.84 (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS FOB Hm Soymeal 533.42 DDG's FOB Srn & Aylm 250.00 - 255.00

DTN Closing Grain Comments 09/28 13:52 Grains Mixed Ahead of Harvest Progress Update December corn ended up 1 1/2 cents and November soybeans were down 6 1/4 cents Monday, despite more bullish export sales news for both. December KC wheat was up 7 1/2 cents, leading percentage gains in the grains sector with USDA ready to give updates of harvest and planting progress at 3 p.m. CDT.

DTN Weather Trend Indicators 09/28 14:20 Weather Indicator status values are: Corn=Neutral Soybeans=Neutral Wheat=Neutral LEGEND: The indicator choices are: Corn, Soybeans, Wheat The status choices are: Up, Down, Neutral For example: Corn=Neutral

DTN Midday Grain Comments 09/28 11:07 Grains Mixed at Midday Corn is 1 to 2 cents higher, soybeans are 6 to 7 cents lower, and wheat is flat to 4 cents higher. David M. Fiala DTN Contributing Analyst The U.S. stock market is firmer with the Dow up 490 points. The dollar index is 30 points lower. Interest rate products are lower. Energies are firmer with crude $0.18 higher. Livestock trade is mixed. Precious metals are higher with gold up $9. CORN Corn trade is 1 to 2 cents higher at midday with trade bouncing back from the early test of support as harvest expands. The daily export wire had sales of 207,140 metric tons sold to unknown, and 110,800 metric tons to Japan. Ethanol margins are steady with unleaded holding near the upper end of the recent range. Basis should see pressure this week with more bushels coming in to town. Weekly export inspections were ok at 806,327 metric tons, with weekly crop progress showing steady to slightly lower conditions with maturity and harvest ahead of average. On the December contract, trade has support at the $3.65 20-day moving average which are tested overnight then the $3.52 lower Bollinger band, with the recent high at $3.78 as resistance. SOYBEANS Soybean trade is 6 to 7 cents lower with trade seeing further harvest pressure and long liquidation ongoing to start the week, even as we saw further export sales of 218,300 metric tons to unknown. Meal is 7.50 to 8.50 lower and oil is 5 to 15 points higher. The ral remains in the lower end of the range ahead of South American planting with farmers waiting for seasonal rains while Argentine farmer selling remains slow, with Brazil heavily sold ahead. Export offers continue to get tighter in availability as well with meal driving the product complex while strain on domestic logistics will increase as shipping pace needs to rise with export inspections a little disappointing at 1.211 million metric tons. Weekly crop progress should show steady to lower conditions with maturity and harvest ahead of normal. The November chart has resistance at the upper Bollinger Band at $10.46 3/4 which is also the fresh high with support the 20-day at $9.93 which we have tested this a.m. WHEAT Wheat trade is flat to 5 cents higher at midday with light buying emerging after early weakness. Export competiveness remains about the same with the focus remaining on Europe dryness along with US plains progress. KC is at a 68-cent discount to Chicago with spreads narrowing after the recent strength, while Minneapolis is back to a 18 cent discount with weaker action. Wheat drilling progress should expand across the plains short term with ok moisture for most for now but follow up rain lacking overall. Weekly export inspections are expected were good at 563,427 metric tons, with planting progress nearing halfway with emergence a little better than average. KC December chart resistance is the fresh high at $5.09, and support is the 20-day at $4.78, which we are just above with the lower Bollinger band the next level at $4.61. David Fiala is a DTN contributing analyst and the President of FuturesOne and a registered adviser. He can be reached at dfiala@futuresone.com Follow him on Twitter @davidfiala (c) Copyright 2020 DTN, LLC. All rights reserved.

DTN Early Word Grains 09/28 05:56 Grains Weaker on Fund Positions, Hedge Pressure December corn is down 3 cents per bushel, November soybeans are down 1/2 cent, and December KC wheat is down 3 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is down 3 cents per bushel, November soybeans are down 1/2 cent, and December KC wheat is down 3 1/2 cents. CME Globex Recap: Equity markets are firmer out of the gate this week with U.S. futures pointed at a higher open later Monday morning. Intermediate term trends are still down on U.S. stock futures but E-mini S&P's were able to hold their 100-day moving average last week heading into what should be a volatile October. Energy markets are weaker overnight with spot crude oil futures right back to $40.00 per barrel. Natural gas is down over 2.0% overnight. The U.S. Dollar Index is weaker overnight after it rallied to two-month highs last week. Precious metals are softer overnight. Grain markets are mostly weaker overnight with corn and wheat leading losses. Corn and soybeans are feeling the effects of increased harvest pressure across the Midwest as well as larger than expected fund long positions following the recent rally. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 358.52 at 27,173.96 and the S&P 500 up 51.87 at 3,246.59 while the 10-Year Treasury yield ended at 0.659%. Early Monday, the December DJIA futures are up 344 points. Asian markets are mixed with Japan's Nikkei 225 up 307 (1.32%) and China's Shanghai Composite down 1.88 points (-0.06%). European markets are higher with London's FTSE 100 up 75 points (1.28%), Germany's DAX up 304.95 points (2.45%) and France's CAC 40 up 81.51 points (1.72%). The December Euro is up 0.004 at 1.170 and the December U.S. dollar index is down 0.307 at 94.375. The December 30-Year T-Bond is down 11/32nds, while December gold is down $5.60 at $1,860.70 and November crude oil is down $0.18 at $40.07. Soybeans on China's Dalian Exchange were down 0.16% while soybean meal was up 1.02%.

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