Corn Ends the Day in the Green

December corn ended the day up 5¾¢ at $4.18 per bushel.

November soybeans closed down less than a penny at $10.07 per bushel.

September CBOT wheat closed down 3½¢ at $5.41½ per bushel. September KC wheat was down 1¼¢ at $5.23. September Minneapolis wheat was down 10¢ at $6.03¾.

“A muted reaction to last Friday’s balance sheet update limited market interest outside of the corn complex,” said Karl Setzer, partner at Consus Ag Consulting. “The world corn inventory is expected to fall to its lowest level in over a decade this year, giving that grain some much-needed support. We are also starting to see more field reports indicating pollination in extreme heat may have impacted the crop more than thought. That said, the current weather conditions remain favorable for crop development, and this weighed on the entire market today. Additional pressure came from trade news, including the weekend announcement the U.S. will place 30% tariffs against the European Union and Mexico starting Aug. 1. Both … have been in contact with the U.S., but are willing to place retaliatory taxes if needed.”

October live cattle closed down $2.93 at $216.78 per hundredweight (cwt). August feeder cattle were down $5.85 at $319.48 per cwt. October lean hogs were down $2.98 at $87.68 per cwt.

As of 3 p.m. CT, August crude oil was down $1.48 at $66.97 per barrel.

As of 2:56 p.m. CT, the S&P 500 Index was up 7.84 points and the Dow Jones Industrial Average was up 64.44 points. 

Published: 3:16 p.m. CT