Corn Starts Day Up Modestly

Just ahead of 9 a.m. CT, May corn was up 1½¢ at $4.70¾ per bushel.

May soybeans were down 6¾¢ at $10.18¼ per bushel.

May wheat contracts were higher. CBOT wheat was up 10¢ at $5.61¼ per bushel. KC wheat was up 12¾¢ at $5.77½. Minneapolis wheat was up 7¾¢ at $6.00½.

“Grain and soybean futures were mixed at the end of early trading, with corn and wheat futures finding further support from a weak dollar, as traders watched for the latest tariff news and awaited Tuesday morning’s USDA [World Agriculture Supply and Demand Estimates] report,” said The Brock Report this morning about the overnight session. “Soybean futures edged slightly lower under pressure from sharp losses in soy oil futures.”

This morning, USDA announced new export sales:

• Japan is buying 126,000 metric tons of corn for the 2024/2025 marketing year.
• Unknown Destinations are buying 195,000 metric tons of soybeans for the 2024/2025 marketing year.

April live cattle were up 95¢ at $201.23 per hundredweight (cwt) just before 9 a.m. CT. April feeder cattle were down 48¢ at $277.68 per cwt. April lean hogs were up 13¢ at $87.48 per cwt.

April crude oil was down 36¢ at $66.68 per barrel.

The U.S. Dollar Index March contract was down to 103.79.

March S&P 500 futures were down 86 points. March Dow futures were down 272 points.

Published: 9:29 a.m. CT