Grain Markets Higher in Early Trade

The grain markets opened at 8:30 a.m. and are higher in the early trade.

The U.S. dollar is a fraction lower today but is still trading right at two-year highs above 108.

The Brazilian real is trading very close to all-time low at 6.18 to the U.S. dollar. This is helping keep Brazilian soybean prices high as we approach the major harvest season.

The grain markets are focused on weather in South America and global export demand. The overall pattern in Brazil is still favorable, with many trade analysts projecting a record soybean crop. Argentina has been trending drier, but the forecast is for two chances of rain late this week and over the weekend.

At this hour, March corn futures are up 2¢, March soybean futures are up 4¢, and wheat futures are 2¢–4¢ higher.

In the livestock markets today, February lean hogs are down 50¢, February cattle are up 97¢, and January feeder cattle are up $1.65.

Global Stock Markets

The stock market in China is up 0.2%, while stocks in Japan are up 1.1%. European stocks are up 0.2%.

Outside Markets

The U.S. Dollar Index is down .05 points at 108.22. Crude oil is up 50¢ per barrel at $70.59. Gold is up $8 per ounce, and the U.S. stock market is slightly lower.

Published 9:31 a.m. CT.

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Editor’s Note: The risk of loss in trading futures and/or options is substantial, and each investor and/or trader must consider whether this is a suitable investment. Past performance – whether actual or indicated by simulated historical tests of strategies – is not indicative of future results. Trading advice reflects good-faith judgment at a specific time and is subject to change without notice. There is no guarantee the advice given will result in profitable trades.

About the Author: Al Kluis has been a commodity advisor and broker since 1976. Kluis is an introducing broker with Wedbush Futures and writes a column, Your Profit, which appears in every issue of Successful Farming magazine. Kluis has published two books on commodities trading and is commonly quoted in major publications including the Wall Street Journal. He is also a featured speaker at commodity conferences nationwide. Kluis is a frequent market analyst for the Linder Farm Radio News Network. A Minnesota farm boy, Kluis was awarded his degree in ag economics from the University of Minnesota in 1974, after which he was executive director of the Minnesota Soybean Association before entering the markets full-time. His family still farms in southwest Minnesota, and Kluis enjoys helping with fieldwork when the markets allow.