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At the market close, July corn was up 4¢ at $4.47½ per bushel.
July soybeans were ¾¢ higher at $10.50¾ per bushel.
Karl Setzer, partner with Consus Ag Consulting said, “A bump in weather-related risk premium in grains following a shift in global patterns is also favoring grains. China is seeing weather stress on its grain crops, and now parts of the European Union are seeing drought develop. This morning, sources in Brazil claimed the safrinha crop is running on subsoil moisture as the country transitions into its dry season. If Brazil does not receive rain soon, scouts say the corn crop will see yield loss.”
July wheat markets ended the day in the green. CBOT wheat was up 4¢ at $5.29 per bushel. KC wheat was 6¼¢ higher at $5.22¾ per bushel. Minneapolis wheat jumped 12¼¢ at $5.85½ per bushel.
June live cattle were up $1.17 at $207.92 per hundredweight (cwt). August feeder cattle were down 12¢ at $297.47 per cwt. June lean hogs were 60¢ lower at $103.57 per cwt.
Just after 3:00 p.m. CT, June crude oil was up 7¢ at $62.04 per barrel.
June S&P 500 futures were up 2 points. June Dow increased 128 points.
The June U.S. Dollar Index was down 691 points.
Published: 3:10 p.m. CT
Trade Starts Week Mixed: 9:29 a.m. CT
Just after 9:00 a.m. CT, July corn was up 1¢ at $4.44½ per bushel.
July soybeans were 3¢ weaker at $10.47 per bushel.
“A correction from recent selling and mixed weather conditions for the U.S. crop are bringing buyers to the market to start.” Angie Setzer, partner with Consus Ag Consulting said, “Weather is also becoming more of an issue in China and the EU. Brazilian officials are stating rains will be needed soon as the safrinha crop is living on subsoil moisture. Hopes the U.S. will see additional trade deals this week are also supportive, although trade wants to see actual trade take place, not just promises to make deals.”
July wheat markets were stronger Monday morning. CBOT wheat was up 8¼¢ at $5.33¼ per bushel. KC wheat was 10¾¢ higher at $5.27¼ per bushel. Minneapolis wheat jumped 8½¢ at $5.81¾ per bushel.
June live cattle were up 97¢ at $207.72 per hundredweight (cwt). August feeder cattle jumped 55¢ at $298.15 per cwt. June lean hogs were 77¢ weaker at $103.40 per cwt.
June crude oil was down 13¢ at $61.84 per barrel.
June S&P 500 futures were down 23 points. June Dow dropped 22 points.
The June U.S. Dollar Index was down 691 points.
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