We started the day with Initial Jobless Claims (18/Sep), Jobless Claims 4-Week Average  (Sep/18), Chicago Fed National Activity Index (Aug), Export Sales and Continuing Jobless Claims at 7:30 A.M., Market Composite PMI Flash (Sep) and Market Services PMI Flash at 8:45 A.M., CB Leading Economic Index MoM (Aug) at 9:00 A.M., NY Fed Treasury Purchases 10 to 22.5yrs. and EIA Gas Storage at 9:30 A.M., Kansas Fed Manufacturing Index (Sep) at 10:00 A.M., 4-Week & 8-Week Bill Auction at 10:30 A.M., 10-Year TIPS Auction at 12:00 P.M., and UN General Assembly.

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On the Corn Front managed funds continue to liquidate longs, while the market is waffling on any bull market. China’s real estate default has the global market’s taking notice and traders of grains are eyeing exports and prices. The Fed action and verbiage yesterday was what the stock market needed as they came to the rescue with their dovish stand on Interest Rates. 13 states in the corn-growing regions are ahead of schedule on harvest while 10 are behind and Wisconsin is inline. The market may be looking ahead to the September 30^th Grains Stocks and Small Grains Summary. In the overnight electronic session, the December corn is currently trading at 524 which is 1 and ½ of a cent lower. The trading range has been 525 ½ to 522 ½.

On the ethanol front, the Renewable Fuels Association (RFA) congratulated member company, E Energy Adams, for producing its billionth gallon of ethanol, a rare achievement in the renewable fuels industry. Still no market in the ethanol futures at the moment.

On the crude oil front, the market is starting to rally again the following strength in the stock market and lower U.S. dollar. In the overnight electronic session, the November crude oil is currently trading at 7265 which is 42 points higher. The trading range has been 7277 to 7161.

On the natural gas front, the market is showing strength again and the EIA Gas Storage data today with a WSJ poll with estimates ranging from 58 bcf to 83 bcf with the median 73 bcf. This compares to the one-year injection build of 70 bcf and the five-year average of 74 bcf. In the overnight electronic session, the October natural gas is currently trading at 4.860 which is .055 cents higher. The trading range has been 4.900 to 4.741.