Grains Start the Day Weaker

After 9 a.m. CT, December corn was down 1½¢ at $4.15 per bushel.

November soybeans were down 5¾¢ at $10.08 per bushel.

“Light pressure is being seen in the market [Friday] morning in low volume trade. Most activity is final positioning ahead of the WASDE report,” said Karl Setzer, partner with Consus Ag Consulting. “No major changes are forecast to balance sheets, with most interest on corn numbers.”

He added: “Unless we see a major surprise in the data, soon after its release, we will be back to weather and crop reports for price discovery. Current weather is mostly favorable for the U.S., but we are seeing more trouble spots.”

The wheat markets were mostly weaker Friday morning. September CBOT wheat was down 4¾¢ at $5.49¾ per bushel. September KC wheat dropped 7¾¢ at $5.27 per bushel. September Minneapolis wheat was up ¾¢ at $6.03 per bushel.

August live cattle were up $2.10 at $221.32 per hundredweight (cwt). August feeder cattle were $1.75 higher at $323.02 per cwt. October lean hogs rose 30¢ at $92.57 per cwt.

August crude oil was up $1.11 at $67.68 per barrel.

September S&P 500 futures were down 28 points. September Dow futures fell 274 points.

The September U.S. Dollar Index was up 213 points.

Published: 9:42 a.m. CT