At the market close, December corn was up 1½¢ at $4.25¾ per bushel.
November soybeans were up 3¼¢ at $10.12¼ per bushel.
“Corn, soybeans, and wheat spent much of the day session in positive territory as light buying surfaced in the commodity complex,” said Karl Setzer, partner with Consus Ag Consulting. “News that Argentina was reinstating its export taxes after reaching its sales cap of $7 billion was reached. Reports indicate China booked 35 Argentine soybean vessels over this period.”
December CBOT wheat was up 7½¢ at $5.27 per bushel. December KC wheat increased 5½¢ at $5.12¼ per bushel. December Minneapolis wheat was 8½¢ higher at $5.51 per bushel.
December live cattle were down $2.52 at $234.30 per hundredweight (cwt). November feeder cattle were $5.57 weaker at $352.22 per cwt. December lean hogs were up 50¢ at $88.62 per cwt.
November crude oil was up 32¢ at $65.31 per barrel.
As of 3:28 p.m. CT, the S&P 500 Index was down 33.25 points, and the Dow Jones Industrial Average was down 173.96 points.
The December U.S. Dollar Index was up 627 points.
Published: 3:37 p.m. CT
Grains Start Stronger: 9:36 a.m. CT
Just before 9:30 a.m. CT, December corn was up 1¼¢ at $4.25½ per bushel.
November soybeans were up 3½¢ at $10.12½ per bushel.
“Moderate gains were seen for much of the overnight session as short covering developed,” said Karl Setzer, partner with Consus Ag Consulting. “Corn, soybeans, and wheat were becoming undervalued in the global market, and this is starting to provide support. Lower-than-expected yields and ongoing strong demand are starting to have more of an impact in price discovery as well.”
December CBOT wheat was up 4¾¢ at $5.24¼ per bushel. December KC wheat increased 3¾¢ at $5.10½ per bushel. December Minneapolis wheat was 17½¢ higher at $5.60 per bushel.
December live cattle were down $1.82 at $235.00 per hundredweight (cwt). November feeder cattle were $3.57 weaker at $354.22 per cwt. December lean hogs were up 40¢ at $88.52 per cwt.
November crude oil was down 75¢ at $64.24 per barrel.
As of 9:27 a.m. CT, the S&P 500 Index was down 30.85 points, and the Dow Jones Industrial Average was down 41.61 points.
The December U.S. Dollar Index was up 437 points.
