Grains are picking up steam with corn, soybeans, and wheat all picking up double digit gains at the time of this post. Continued concerns over Chinese production, South American planting progress, and a reported sale of 25,000 metric tons of soybean oil to China for 12/13 have all been supporting the soy complex this morning. Not a lot of fundamentals drivers out this morning, due to Hurricane Sandy we have seen delays in both EIA Ethanol Numbers and the weekly Export Sales Report. Below is a table showing reports coming down the pipe this week.

THERE IS A SIGNIFICANT RISK OF LOSS IN TRADING FUTURES AND OPTIONS.
FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS.
PLEASE READ OUR RISK DISCLOSURE.

Screencapture from 5:02 PM Central Time

Equity futures are drifting higher this evening with expectations for both the NYSE and NASDAQ to be open for business tomorrow. The grain market will stay focused on South American planting progress for the remainder of the week, with continuing issues lending support to the corn and soy markets. Technically we are looking for the 100 day moving average to provide resistance to the January soybean contract and support to the December corn contract. Overall, many traders are looking for a sideways market into the November 9 USDA reports but don't be surprised by big moves, especially with next Tuesday's US Elections.

We normally get EIA ethanol production numbers on Wednesday, but those have been delayed untill later in the week due to Hurricane Sandy. Want to watch these markets and place your own trades for $7 commissions per side during the night session? Click Here to take a demo and get started tonight!

THERE IS SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS.
FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS.
PLEASE READ OUR FULL RISK DISCLOSURE.

Grains are trading higher in Chicago, at the time of this post up 7 cents on DEC corn, 13 1/4 cents on NOV soybeans, and down 1-3 cents on Wheat. Keep in mind tomorrow is FIRST NOTICE day for the November soybean contract so it is time to start rolling to a more deferred month. Hurricane Sandy continues to dominate headlines and keep a lid on volume in the grain market. NYSE is closed once again today, and we have news that Wednesday's EIA ethanol numbers will be delayed. Expect trading to open tomorrow on both NYSE and NASDAQ.

South America remains extremely wet as producers struggle to get corn and soybeans planted. Today Oilworld voiced concern over South American soybean production expectations in light of the slow pace of planting. Piling on the bullish news for soybeans was the Chinese Ag Minister pegging their soybean crop at just 9.8 MMT, nearly 3 MMT lower than the USDA's expectations.

Wheat continues to trade at the low side of its recent range, with the 100 day moving average sitting at 854 on the December contract. A similar situation is shaping up with corn now trading against the 100 day moving average which sits at 735.

Tune in to GrainTV for a complete breakdown of today's action! (double-click for full screen)

THERE IS A SIGNIFICANT RISK OF LOSS IN TRADING FUTURES AND OPTIONS.
FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS.
PLEASE READ OUR RISK DISCLOSURE.

News of NYSE equity markets closed today have dominated headlines, with grains, meats, metals, and crude oil all remaining open. Volume has been very light today, and the time of this post we see soybeans leading grains lower -- Down 31 cents on the November contract. This morning Brock and Logan discuss the market closures and expectations for South American weather.

(double-click for full screen)

THERE IS A SIGNIFICANT RISK OF LOSS IN TRADING FUTURES AND OPTIONS.
FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS.
PLEASE READ OUR RISK DISCLOSURE.

Cody and Logan review changing conditions in South America and the domestic cash market.

(double-click for full screen)

THERE IS A SIGNIFICANT RISK OF LOSS IN TRADING FUTURES AND OPTIONS.
FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS.
PLEASE READ OUR RISK DISCLOSURE.

First, ethanol use of corn is running behind the seasonal pace to meet current USDA expectations. Our models are indicating that if the current use of corn for ethanol continues we will fall about 125 million bushels short of current USDA projections. Feed demand is another area of concern as the Cattle on Feed report from last week showed significantly lower placement figures than last year at the same time. Export sales for corn and soybeans were disappointing this week coming in below expectations. Wheat was the lone bright spot as far as exports were concerned, exceeding expectations.

Demand Analysis on Today's GrainTV

Despite weak sales this week, corn and beans are still ahead of pace to meet current USDA projections mostly due to pre-sales from last year, but have slowed drastically over the last several weeks. It is interesting however; that corn export inspections (the amount actually being shipped) is lagging behind the pace needed to meet current estimates. Bottom line is that demand destruction has taken place for corn at these price levels and prices need to move lower to spur more robust demand.

Technically speaking, for soybeans the November contract is meeting heavy resistance in the $15.65 to $15.70 area on the daily chart. Providing resistance is the 100- day moving average and in the area is the bottom of the range that was traded in July and August. It will most likely take a weather development from South America or stronger outside markets to push past this level with conviction. In the short term, the upside potential is rather limited for soybeans.

Looking ahead to Friday, we get the options expiration for November contracts and the third quarter gross domestic product figures will be released at 7:30 AM central time.


THERE IS A SIGNIFICANT RISK OF LOSS IN TRADING FUTURES AND OPTIONS.
FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS.
PLEASE READ OUR RISK DISCLOSURE.

This morning we discuss reported USDA Export Sales and our outlook for the corn and soybean market.

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

This morning we look at today's EIA Ethanol numbers and forward to tomorrow's Export Sales Report!

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

This morning we discuss our outlook on the November soybean contract, crop progress, and what is coming down the line this week for the grain market.

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

This morning on GrainTV we discuss South American precip and a budding rally in soybeans.

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Brock and Logan talk Informa numbers, production estimates out of South America, and if producers should look at pricing some of the 2013/14 crop.

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

This morning Brock and Logan discuss USDA Export Sales and the pace of ethanol production as grains pick up ground.

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Cody and Logan look at the dollar index, ethanol numbers, and how these are going to impact corn demand.

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Brock and Logan discuss crop progress, South American soil moisture, and expectations for this corn market.

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Brock and Logan discuss this morning's NOPA numbers, export inspections, and technicals on this November soybean contract.

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Brock and Logan discuss export sales one day after the big October USDA report. Corn and beans both dissapointed the market, and we now see futures selling off sharply. Where are we headed and what is the cash market telling us

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Cody and Logan breakdown the numbers from this morning's USDA Report and give their take on what these numbers, and today's price action, are telling us.

(double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

The Numbers:

Production
Corn: 10.706 billion bushel vs 10.601 expected
Soybeans: 2.86 billion bushel vs 2.764 expected

Yield
Corn: 122 BPA vs 122.88 expected
Soybeans: 37.8 BPA vs 37 expected

Ending Stocks
Corn: 619 million bushel vs 648 expected
Soybeans: 130 million bushel vs 134 expected

Other Important Numbers
Soybeans exports for 12/13 raised by 210 million bushel
1.1 million acres added to 12/13 soybean harvested acreage

Breakdown:
Once again we saw a wide range printed in the first 20 minutes of trading (picture below) before the market settled into a trade range. At the time of this post we see corn up 25 cents, soybeans up 30 cents, and wheat trailing - up 9 in Chicago and 11 in Kansas City.

Ending stocks for soybeans came in 2% below market expectations while corn was 4% lower than market expectations. We saw dramatic revisions to projected soybean export sales (1.1 million bushel higher) and projected corn export sales (1 million bushel lower) which reflects the sluggish pace for corn in recent weeks and a soybean export market that remains red hot.

Bulls are looking for a substantial harvested acreage revision in coming reports, where as the bears are looking at this report as providing little bullish news and this rally being pushed by short covering.

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THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Brock and Cody look at Crop Progress and Conditions. Today's analysts also review the estimates for tomorrow's reports. Soybeans are examined from a technical standpoint too. Tune in for the full breakdown! (double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Brock and Logan look at international production figures as we approach Thursday USDA report. Tune in for the full breakdown! (double-click video for full screen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Thursday's USDA Reports
Supply and Demand & Crop Production
Released at 7:30 AM Central Time

Below are analyst expectations for production and ending stocks coming into the report, and how this compared to the USDA's September projections. Brock and Logan discuss these numbers in detail on this morning's GrainTV.

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Brock and Logan discuss Lanworth and Informa numbers released this morning, weekend weather, and where this soybean market might be headed. Have a great weekend.

(double-click for fullscreen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Cody and Logan discuss this morning's export sales, ethanol data, and where this soybean market is headed!

(double-click for fullscreen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

This morning Brock and Logan look at FC Stone yield estimates and the November soybean chart from a technical aspect.

(double-click for fullscreen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

Brock and Logan discuss crop progress and look at technical levels that should provide support to this collapsing soybean market.

(double-click for fullscreen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.

This morning Cody and Logan discuss sharp selling in the wheat and soybean market and where this market might be headed. Tune in for the full report!

(double-click for fullscreen)

THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.