Grains End Day in the Red

July corn ended the day down 3¼¢ at $4.89½ per bushel.

July soybeans closed down 3¾¢ at $10.46½ per bushel.

July wheat contracts were also lower. CBOT wheat closed down 5¾¢ at $5.56 per bushel. KC wheat was down 1¾¢ at $5.68½. Minneapolis wheat was down 3½¢ at $6.15½.

“Futures’ trade was choppy today, with futures seeing both sides of unchanged,” said Karl Setzer, partner at Consus Ag Consulting. “Corn was the early leader of the market, taking support from the second consecutive day of flash [export] sales. Spread trading developed in corn as the session progressed, pressuring nearby contracts but supporting deferred months.

“Soybeans were in the red much of the session as the U.S. continues to see demand shift to South America. Weakness in the energy complex also weighed on soybeans, as did losses in the global vegetable oil market. A simple correction after rallying to a seven-week high capped soybeans as well.

“Escalation in the trade war with China weighed on all markets today, with news China is looking to cancel aircraft purchases from Boeing. Several airlines also announced they may need to cancel aircraft purchases as well if tariffs impact their business.

“Wheat futures were pressured by the news force majeure was being declared at loading facilities along the Ohio River due to flooding.”

June live cattle ended the day up 73¢ at $199.80 per hundredweight (cwt). August feeder cattle closed up $2.10 at $288.25 per cwt. June lean hogs were up 5¢ at $95.18 per cwt.

Ahead of 3 p.m. CT, June crude oil was down 12¢ at $60.93 per barrel.

June S&P 500 futures and Dow futures were down 10 points and 144 points, respectively.

Published: 3:26 p.m. CT

Grains in the Red: 10:05 a.m. CT

Ahead of 9:15 a.m. CT, July corn was down 1¼¢ at $4.91½ per bushel.

July soybeans were down 9¼¢ at $10.41 per bushel.

July wheat contracts were in the red. CBOT wheat was down 5¾¢ at $5.56 per bushel. KC wheat was down 6¢ at $5.64¼. Minneapolis wheat was down 3¼¢ at $6.15¾.

This morning, USDA announced Portugal is buying 110,000 metric tons of corn for the 2024/2025 marketing year.

June live cattle were up $1.05 at $200.13 per hundredweight (cwt) ahead of 9:15 a.m. CT. August feeder cattle were up $1.83 at $287.98 per cwt. June lean hogs were up 23¢ at $95.35 per cwt.

June crude oil was up 27¢ at $61.32 per barrel.

The U.S. Dollar Index June contract was up to 99.78.

June S&P 500 futures were up 38 points. June Dow futures were up 221 points.

Published: 10:05 a.m. CT