Grains All Higher This Morning

The grain markets are all higher this morning on light volume. The stock market was hit hard yesterday, with the Dow closing down over 400 points. In the early trade today, the U.S. stock market is higher, and the U.S. dollar is higher and is testing contract highs. Energy prices continue to move higher.

The Commodity Futures Trading Commission (CFTC) Commitments of Traders report on Monday showed funds now long 161,000 contracts of corn. In soybeans, funds are short 68,000 contracts. In the wheat market, funds are short 156,000 contracts. This was close to my estimates. The next report will be released next Monday.

As of this morning, March corn futures are up 4¢, March soybean futures are 6¢ higher, and wheat futures are 3¢–4¢ higher. 

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

The grain markets close at noon CT today and then open at 8:30 a.m. on Thursday Jan. 2, 2025. Happy New Year.

Global Stock Markets

The stock market in China is down 1.5%, while stocks in Japan are down 0.9%. European stocks are up 0.3%.  

Outside Markets

The U.S. Dollar Index is now up 0.16 points at 108.27, crude oil is up 50¢ per barrel at $71.50, and S&P futures are up 7 points at 5,966. Dow futures are up 70 points at 42,995, and gold futures are up $9 per ounce at $2,627.

Published: 9:33 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.