Corn and Soy in the Green

As of 9:10 a.m. CT, December corn was up 2¼¢ at $4.19 per bushel.

November soybeans were up 4½¢ at $10.11 per bushel.

December CBOT wheat was up less than a penny at $4.99¼ per bushel. December KC wheat was down 1¼¢ at $4.87 per bushel. December Minneapolis wheat was down 1¼¢ at $5.49¾.

“Corn and soybean futures may trade in a lackluster price pattern in the coming weeks until more is known regarding yield,” said Naomi Blohm, senior market advisor with Total Farm Marketing.

“Should yield be perceived to be in the low 180’s for corn, that would likely continue to lend to price support. Should yield drop below 180 bushels per acre, that could drastically drop ending stocks and could be a game changer to not only the U.S. balance sheet for corn, but the global balance sheet as well. 

“The same holds true for soybeans; should yield be perceived to be closer to 51 bushels per acre, that would be supportive to soybean prices, as would any sign of a trade deal with China.” 

As of 9:10 a.m. CT, December live cattle were up 38¢ at $247.15 per hundredweight (cwt). November feeder cattle were up 33¢ at $381 per cwt. December lean hogs were down 68¢ at $82.93 per cwt.

December crude oil was down a penny at $57.83 per barrel.

The U.S. Dollar Index December contract was down to 98.34.

As of 9:06 a.m. CT, the S&P 500 Index was up 18.98 points, and the Dow Jones Industrial Average was up 76.04 points. 

Published: 9:34 a.m. CT