Corn Down More Than 4¢

Ahead of 9 a.m. CT, December corn was down 4½¢ at $4.18½ per bushel.

November soybeans were down 5¼¢ at $10.35¾ per bushel.

December CBOT wheat was down 1¼¢ at $5.27 per bushel. December KC wheat was up 1½¢ at $5.12¾ per bushel. December Minneapolis wheat was down a penny at $5.73¼.

“Corn’s strong price action from late last week carried over [to yesterday], supported in part by crude oil gaining more than $1.50,” said Cole Raisbeck, commodities broker with Kluis Commodity Advisors. “Bulls now have their sights set on the $4.30 gap left from early July. Soybeans, meanwhile, remain under pressure from China’s absence in the export market, with a rebound in the U.S. dollar adding to the weakness. Crop ratings showed soybeans down 4 percentage points, which should lend support to the market, though the decline was largely anticipated after a dry August across much of the eastern Corn Belt.”

This morning, USDA announced the Philippines are buying 185,000 metric tons of soybean cake and meal for the 2025/2026 marketing year.

Ahead of 9 a.m. CT, October livestock were lower. Live cattle were down $1.35 at $238.18 per hundredweight (cwt). Feeder cattle were down $2.85 at $360.85 per cwt. Lean hogs were down 70¢ at $94.85 per cwt.

October crude oil was down $1.36 at $64.23 per barrel.

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

The S&P 500 Index was up 19.93 points, and the Dow Jones Industrial Average was down 150.39 points. 

Published: 9:24 a.m. CT