As of 9:31 a.m. CT, December corn was down less than a penny at $4.21½ per bushel.
November soybeans were down 5½¢ at $10.24 per bushel.
“A report yesterday suggested that Brazil will surpass soybean export volume from 2023 and 2024 by the end of October this year,” said Al Kluis, managing director of Kluis Commodity Advisors. “The estimate is pegged just above 102 million metric tons for the first 10 months of the year. This further confirms that China is sourcing everything from South America, while tariff wars have cut off business with the U.S.”
December CBOT wheat was up 3¼¢ at $5.10½ per bushel. December KC wheat was up less than a penny at $4.93½ per bushel. As of 9:30 a.m. CT, December Minneapolis wheat was up 4½¢ at $5.60.
This morning, Naomi Blohm, senior market advisor at Total Farm Marketing, said grains are trading sideways as “fresh news is hard to come by.” The weekly U.S. Export Sales report and the October World Agricultural Supply and Demand Estimates (WASDE) report were scheduled for today but will not be released because of the government shutdown.
“Basis is still improving,” she said. “As I indicated a few days ago, that quarterly Grain Stocks report [released last Tuesday] might be a blessing for end users who now have one more chance to secure cheap corn, as the early harvest yield results for corn are coming in substantially lower than last year, due to disease.”
As of 9:31 a.m. CT, December live cattle were unchanged at $238.88 per hundredweight (cwt). November feeder cattle were up $1.43 at $370.25 per cwt. December lean hogs were down 85¢ at $85.25 per cwt.
November crude oil was down 38¢ at $62.17 per barrel.
The U.S. Dollar Index December contract was up to 99.01.
As of 9:27 a.m. CT, the S&P 500 Index was down 16.91 points, and the Dow Jones Industrial Average was down 176.4 points.
Published: 10 a.m. CT
