CORN

The overnight markets were lower for corn.  Around 7 am, corn was down 1-3 cents.  Corn prices started the day session lower and traded lower all day.  Prices closed down 3-4 cents, in a 6 range.  The weekly export inspections were on the low end of guesses at 18 million bushels.  A Reuters poll of experts showed they believe corn harvest is 23% complete. There was not much news regarding more info on the Chinese trade deal talked about last week.  It looked like some profit taking as corn couldn't take out yesterday's high. Midday weather forecasts show little rain falling the rest of the week around the Midwest.  There is a small chance of rain this afternoon. Longer term forecasts are colder but drier for much of the Midwest.  US equity markets were higher, with the US Dollar lower.  Energy markets were lower and precious metals markets were lower.  Area cash basis levels were steady.  Corn spreads were sharply lower as the Dec.-July widened almost 4 cents.  Technically, corn failed to take out yesterday's highs, but is still above the 9 day moving average.  Funds were net sellers of about 12,000 corn contracts on the day.  

SOYBEANS

Soybean prices were lower overnight.  Bean prices were 2-3 cents lower, around 7 am.  Bean prices started the day session lower and traded both sides before closing down near the low of the day. Beans closed down 4-6 cents, in a 11 cent range.  Weekly export inspections for beans were in the middle of guesses at 35 million bushels.  NOPA's September bean crush number came in at 152 million, well below the average guess of 162 million bushels. A Reuters poll of experts showed they believe bean harvest is 25% complete.  Brazil is about 9% harvested for beans, vs. 12% on average.  Rains down there have started to fall which has encouraged farmers to pick up the pace.  Chinese hog herds continue to fall as for September numbers were about 40% below last year.  Most experts believe its fallen more than that.  Livestock markets were mostly higher, with hogs limit up.  Bean spreads were weaker.  The soybean complex was mixed, with oil higher and meal lower.  Area cash basis levels were steady after yesterday's jump. Funds were net buyers of about 7000 beans, 8000 bean oil, and net sellers of about 4000 contracts today.  

For Tuesday,

Dalton City will be open until 7 pm tonight.

Bethany will be open until 7 pm tonight.

FYI!!  The Okaw Valley FFA and Scott State Bank are putting on a 'Feed the Farmer' Lunch at Bethany on Friday, October 18th.