Corn Down Less Than 2¢

Ahead of 8:45 a.m. CT, December corn was down 1¼¢ at $4.00¾ per bushel.

November soybeans were up 3¼¢ at $9.94 per bushel.

September CBOT wheat was up less than a penny at $5.08¾ per bushel. September KC wheat was up 2½¢ at $5.07 per bushel. September Minneapolis wheat was up less than a penny at $5.70½. 

“Markets continue to grind lower with little fresh news to shift momentum,” said Cole Raisbeck, commodities broker at Kluis Commodity Advisors. “Strong new-crop corn demand hasn’t been enough to spark a rally. Corn and wheat made new lows yesterday, while soybeans closed near the bottom of their range and are looking to test recent lows.”

Raisbeck added: “I’m watching weather across the Corn Belt; forecasts point to a potential heat wave moving in. I’m also keeping an eye on whether crude oil can recover and provide support to corn prices, along with the direction of the U.S. dollar.”

As of 8:43 a.m. CT, October live cattle were down 33¢ at $226.78 per hundredweight (cwt). September feeder cattle were down 80¢ at $338.75 per cwt. October lean hogs were up 23¢ at $93.03 per cwt.

September crude oil was up $1.12 at $66.28 per barrel.

The U.S. Dollar Index September contract was down to 98.26.

As of 8:39 a.m. CT, the S&P 500 Index was up 3.73 points, and the Dow Jones Industrial Average was down 21.66 points. 

Published: 9:16 a.m. CT