:max_bytes(150000):strip_icc()/BryanJorgensesn-HowtoSelectBetterSeedVarieties-R5A_7313-025_corn-0f6e1cf684454c75bd92722e97d50f5e.jpg "Comparative Cost Advantages for U.S. Corn and Soybean Production, and a Seed Cost Disadvantage in Soybeans")
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Ahead of 9:30 a.m. CT, December corn was down 1¾¢ at $4.04¼ per bushel.
November soybeans were down a penny at $10.46½ per bushel.
December CBOT wheat was down 3¾¢ at $5.20½ per bushel. December KC wheat was down 5¼¢ at $5.07¾ per bushel. December Minneapolis wheat was up less than a penny at $5.77.
This morning USDA released the weekly U.S. Export Sales. Concerning the report, The Brock Report said:
“Net U.S. corn export sales for the week ended Aug. 21 came in at 81.6 million bushels, including net cancellations of 700,000 bushels for 2024/2025 delivery, compared with trade expectations that ran 39.5-98.5 million bushels and the previous week’s sales of 111.5 million bushels. Strong new-crop sales should remain supportive for corn prices, but the market is likely to continue to focus on the flood of new-crop supplies set to hit at harvest.
“Net weekly U.S. soybean export sales came in at 43.4 million bushels, including net cancellations of 7 million bushels for 2024/2025 delivery, compared with trade expectations that ran 14.5-36.5 million bushels and the previous week’s sales of 41.8 million bushels. The sales data should be supportive for soybean futures, but China remained absent as a buyer of U.S. soybeans.
“Net weekly U.S. wheat export sales came in at 21.3 million bushels, toward the high end of trade expectations that ran 14.5-24 million and above the previous week’s sales of 17.7 million bushels…. The sales data looks supportive for wheat futures, but futures may continue to struggle amid pressure from large U.S. wheat and corn supplies.”
As of 9:20 a.m. CT, October livestock were mixed. Live cattle were down 23¢ at $239.30 per hundredweight (cwt). Feeder cattle were up $1.35 at $365.55 per cwt. Lean hogs were up 8¢ at $93.98 per cwt.
October crude oil was down 60¢ at $63.55 per barrel.
The U.S. Dollar Index September contract was down to 97.79.
Ahead of 9:20 a.m. CT, the S&P 500 Index was down 4.73 points, and the Dow Jones Industrial Average was down 82.56 points.
Published: 9:49 a.m. CT
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