Grains In the Green This Morning

March corn is up 8½¢ this morning.

March soybeans are up 15¢.

March wheat contracts are also higher this morning. CBOT wheat is up 14¼¢. KC wheat is up 16¼¢. Minneapolis wheat is up 14¢.

“Friday’s grain market sell-off did feel a bit harsh and prices are rebounding this morning in turn; there’s too much at stake in terms of potential fundamental surprises on Friday to make a major pre-USDA move either way,” said Arlan Suderman, chief commodities economist at StoneX, prior to the 8:30 a.m. CT open of day trade.

On Friday, Jan. 10, USDA is expected to release several reports, including the monthly World Agricultural Supply and Demand Estimates (WASDE) report, the quarterly Grain Stocks report, the annual Winter Wheat and Canola Seedings report, and the Crop Production 2024 Summary.

“In the meantime, trade concern is building over dryness in Argentina and southern Brazil,” Suderman added.

February live cattle are up $1.45 this morning. March feeder cattle are up $1.73. February lean hogs are down 73¢.

February crude oil is up 59¢.

The U.S. Dollar Index March contract is down to 108.14.

March S&P 500 futures are up 66 points. March Dow futures are up 247 points.

Published: 9:56 a.m. CT