A little after 9 a.m. CT, March corn was up a penny at $4.45¾ per bushel.
January soybeans were down 9¢ at $10.96¼ per bushel.
March CBOT wheat was up 2¢ at $5.37¾ per bushel. March KC wheat was down 2¼¢ at $5.29 per bushel. March Minneapolis wheat was up 3¼¢ at $5.76¼.
This morning, USDA announced China is buying 132,000 metric tons of soybeans for the 2025/2026 marketing year.
Tomorrow USDA is expected to release the December World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports. The Federal Reserve’s Federal Open Market Committee (FOMC) is meeting Tuesday and Wednesday this week. Al Kluis, managing director of Kluis Commodity Advisors, said: “This week is likely to be volatile. Not only are we watching the weather forecasts in South America, but we are watching what the USDA reports show Tuesday, and what the [FOMC] announces on Wednesday.” He added that the FOMC is expected to cut interest rates by 0.25%.
“The key market factor remains the weather in Brazil,” Kluis said. “With dry conditions continuing in southern Brazil, the trade will likely lower corn and soybean crop projections for Brazil again later this week. Our main South American crop consultant Dr. Michael Cordonner thinks we have seen the largest corn and soybean crop projections.”
Shortly past 9 a.m. CT, January feeder cattle were up $1.78 at $337.28 per hundredweight (cwt). February live cattle were up 25¢ at $227.40 per cwt. February lean hogs were up 5¢ at $82.33 per cwt.
January crude oil was down 75¢ at $59.33 per barrel.
The U.S. Dollar Index December contract was up to 99.09.
The S&P 500 Index was down 4.69 points, and the Dow Jones Industrial Average was down 80.31 points.
Published: 9:36 a.m. CT
