Grain Markets Higher in Morning Trading

Published: 9:13 a.m. CT

Good morning. The grain markets are higher with soybeans leading the charge higher. Nearby corn futures are trading at the highest price since last June and wheat futures are pulled higher by corn and soybeans. The U.S. dollar has turned higher after a lower start.

The grain markets are focused on weather in Argentina where the forecast is not dry with some possible extreme heat by later this week. I look for crop ratings and yield forecasts to begin to move lower. Earlier this morning, March corn futures were up 4¢, March soybean futures were up 12¢ higher, and wheat futures are 5 to 6¢ higher. 

In global stocks, the stock market in China is down 0.2%, while stocks in Japan are down 0.9% and European stocks are down 0.2%. 

In the outside markets. The US Dollar Index is down 0.15 points at 107.84, crude oil is now up 64¢ per barrel at $71.24, and S&P futures are down 91 points at 5,935. Dow futures are down 630 points at 42,719 and gold futures are down $8 per ounce at $2,623.

In the livestock markets today, February lean hogs are down 95¢, February live cattle are up 57¢, and January Feeder cattle are up 30¢.

For a free trial of The Kluis Report, including three times a day market updates and the Saturday newsletter, visit kluiscommodities.com, call 888-345-2855, or email [email protected].

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.