Today grain future

Corn futures finished a few pennies lower across the board. After the close, USDA released the most recent crop progress report which showed corn conditions in the gd/ex rating declined 1 point from last week to 53%. This figure remains much higher than the same period last year which was at 24%. Corn in the mature stage was up to 22%, compared to 73% at this time last year. USDA showed 4% harvested in the 18 major states. The 5 year average is 10%, but includes last year and the record 24% by September 15, 2012. The Brugler 500 Index declined 3 points from last week to 342. Weekly corn export inspections came in at 20.111 (mbu) vs. 9.986 mbu the previous week. Market year to date figures are at 28.277 (mbu) vs. 37.635 mbu last year. The most recent CFTC data released last Friday showed spec funds still holding a sizeable short position.

Dec 13 Corn closed at $4.56 1/2, down 2 1/2 cents,
Mar 14 Corn closed at $4.69, down 2 1/2 cents,
May 14 Corn closed at $4.77 1/4, down 2 1/4 cents
Jul 14 Corn closed at $4.83 3/4, down 2 1/2 cents

Soybeans futures closed 20 to 33 cents lower on the day. After the close, USDA released the most recent crop progress report which showed soybean conditions in the gd/ex rating declined 2 points from last week to 50%. This figure remains much higher than the same period last year which was at 33%. The USDA report also showed 26% dropping leaves, which is below the 5 yr average of 35%. The Brugler 500 Index declined 6 points from last week to 336. August NOPA crush was pegged 110.5 mbu which was within the range of estimates, while soy oil stocks came in at 1.668 bln lbs which was below estimates. Rains over the weekend in parts of Iowa and Minnesota have provided the trade with a bearish influence to start the week. Weekly soybean export inspections came in at 2.972 mbu vs. 2.519 mbu the previous week. Current market year to date figures are now at 4.818 mbu vs. 22.644 mbu from the previous year.

Nov 13 Soybeans closed at $13.48 1/4, down 33 1/4 cents,
Jan 14 Soybeans closed at $13.48 1/4, down 31 1/2 cents,
Mar 14 Soybeans closed at $13.22, down 25 1/4 cents,
May 14 Soybeans closed at $12.94 1/2, down 20 1/2 cents,
Oct 13 Soybean Meal closed at $431.20, down $13.40,
Oct 13 Soybean Oil closed at $42.13, down $0.21

Wheat futures closed the day steady to 4 cents lower. After the close, USDA showed 90% of the spring wheat crop is harvested, just above the 87% average. The report showed winter wheat is currently 12% planted, which is equal to the 5 yr average for this time of year. Weekly export inspections came in at 46.024 mbu vs. 31.689 mbu the previous week. Market year to date figures are now at 419.171mbu vs. 308.640 mbu from the previous year. Almost 55% of the USDA forecast for the year is already on the books or shipped out, well ahead of the 48% average for this date.

Dec 13 CBOT Wheat closed at $6.41 1/4, down 1/4 cent,
Dec 13 KCBT Wheat closed at $6.89 3/4, down 2 1/4 cents,
Dec 13 MGEX Wheat closed at $7.01 3/4, down 4 cents