Grains Start Day in the Red

At 8:30 a.m. CT, May corn was down 5¾¢ at $4.44¼ per bushel.

May soybeans were down 5¼¢ at $10.11½ per bushel.

May wheat contracts were also lower. CBOT wheat was down 10½¢ at $5.21½ per bushel. KC wheat was down 15½¢ at $5.50¾. Minneapolis wheat was down 9¼¢ at $5.79¼.

“Grain and soybean futures are lower across the board at the end of early trade, with wheat futures leading the way lower under pressure from forecasts for needed rain in the U.S. [hard red winter] wheat belt and slow export demand,” said The Brock Report about the overnight trading session. “Corn futures have been pressured by the wheat market weakness, with expectations for a jump in U.S. acreage [in USDA’s annual Prospective Plantings report, expected next Monday,] remaining a bearish factor. Soybean futures followed corn lower overnight despite expectations for a significant drop in U.S. plantings.”

June live cattle were down 23¢ at $205.58 per hundredweight (cwt) at 8:30 a.m. CT. May feeder cattle were up 8¢ at $286.60 per cwt. June lean hogs were up $1.55 at $97.73 per cwt.

May crude oil was down 12¢ at $69.80 per barrel.

June S&P 500 futures were down 17 points. June Dow futures were down 84 points.

Just past 8:30 a.m. CT, the U.S. Dollar Index June contract was down to 103.86.

Published: 9:02 a.m. CT