Corn and Soy Close Up Slightly

March corn ended the day up 1½¢ at $4.38¼ per bushel.

January soybeans closed up 1½¢ at $11.24¾ per bushel.

March CBOT wheat closed up 4½¢ at $5.39¼ per bushel. March KC wheat was up 5¾¢ at $5.28¼ per bushel. March Minneapolis wheat was up 4¾¢ at $5.80¾.

“Grains spent early trade on the plus side this morning while the soy complex was mostly lower,” said Karl Setzer, partner at Consus Ag Consulting. “Short covering ahead of first notice day on December futures gave the grains support as did several overnight sales, especially on corn. While none of these were large enough to make it into the flash sales range, the number of them was impressive. The majority of these were feed corn, but wheat was sold as well. Soybean oil was pressured by weakness in the global market as palm oil fell to a 5½ month low. This weighed on the entire soy complex, as did future demand uncertainty. The U.S. and China are forecast to meet in the next couple of weeks and officially sign the proposed trade agreement. Even if this removes all tariffs, U.S. soybeans would still be the most expensive going into China. This may impact Chinese imports regardless of a trade deal. Weakness in the energy complex spilled over into the commodities today, while a weaker U.S. dollar provided support.”

January feeder cattle ended the day up $2.10 at $307.08 per hundredweight (cwt). February live cattle closed down 20¢ at $207.33 per cwt. February lean hogs were down 18¢ at $79 per cwt.

Not long past 1:30 p.m. CT, January crude oil was down $1.13 at $57.71 per barrel.

The S&P 500 Index was up 37.51 points, and the Dow Jones Industrial Average was up 552.87 points.

Published: 2:15 p.m. CT

Corn and Soy Up Slightly: 10:14 a.m. CT

Ahead of 10 a.m. CT, March corn was up 1½¢ at $4.38¼ per bushel.

January soybeans were up less than a penny at $11.23½ per bushel.

March CBOT wheat was up 2¼¢ at $5.37 per bushel. March KC wheat was up 2¢ at $5.24½ per bushel. March Minneapolis wheat was unchanged at $5.76.

This morning, USDA released export sales data as part of the agency’s schedule to catch up from the recent government shutdown.

“Delayed weekly export sales data for the week that ended Oct. 9 released this morning by USDA pegged net U.S corn export sales for that week at 52.2 million bushels,” said The Brock Report. “Net U.S. soybean export sals for the week that ended Oct. 9 came in at 28.9 million bushels, while net weekly wheat export sales came in at 22.6 million bushels.”

Ahead of 10 a.m. CT, January feeder cattle were up $2.25 at $307.23 per hundredweight (cwt). February live cattle were up 10¢ at $207.63 per cwt. February lean hogs were up 8¢ at $79.25 per cwt.

January crude oil was down $1.53 at $57.31 per barrel.

The U.S. Dollar Index December contract was down to 99.66.

Published: 10:14 a.m. CT