Corn is currently up a penny while soybeans are up 3⁄4
of a penny.
CBOT wheat is up 8¢. KC wheat is up 5¢. Minneapolis wheat is up 8¢.
Live cattle are down 75¢. Lean hogs are down 90¢. Feeder cattle are down $1.30.
Crude oil is down $1.96.
S&P 500 futures are down 7 points. Dow futures are up 45 points.
Naomi Blohm, senior market advisor with Total Farm Marketing, says the stock market was hit last week by a variety of factors, including the closure of Silicon Valley Bank.
Al Kluis, managing director of Kluis Commodity Advisors, says if the stock market can stabilize and go higher, commodities will follow.
“The U.S. bank problems and potential panic will result in less-aggressive interest rate hikes and a flood of new money being pumped into the financial system to avoid any type of lock-up,” Kluis says.