Corn ended the day flat while soybeans are up slightly by 1⁄4
of a penny.
CBOT wheat is up by 3⁄4
of a penny. KC wheat is down 10¢. Minneapolis wheat is down 4¢.
Arlan Suderman, chief commodities economist with StoneX, says there was support today from reports the Black Sea grain deal is at risk, but it was partially offset by reports Ukraine reached an agreement on grain transit with Poland.
Live cattle are up 38¢. Lean hogs are down $2.43. Feeder cattle are up 85¢.
Crude oil is up 5¢.
S&P 500 futures are down 2 points. Dow futures are down 34 points.
Grains still in the red at midday: 11:07 a.m. CDT
Corn is down 3¢ at midday.
Soybeans are down 5¢.
CBOT wheat is down 4¢. KC wheat is down 12¢. Minneapolis wheat is down 7¢.
Live cattle are down 10¢. Lean hogs are down $1.78. Feeder cattle are up 85¢.
Crude oil is up 46¢. Naomi Blohm, senior market advisor with Total Farm Marketing, says oil prices are being boosted by the Chinese economy bouncing back from COVID-19 lockdowns faster than expected. She says many analysts expect China’s reopening to support additional gains in oil prices in the coming year.
The U.S. Dollar Index June contract is at 101.55.
S&P 500 futures are down 8 points. Dow futures are down 108 points.
Corn down 6¢; soy and wheat also in the red: 9:04 a.m. CDT
This morning corn is down 6¢ while soybeans are down a penny.
CBOT wheat is down 2¢. KC wheat is down 7¢. Minneapolis wheat is down 3¢.
Al Kluis, managing director for Kluis Commodity Advisors, says he is keeping an eye on the weather right now.
“I am watching cold, wet conditions continue in western Minnesota and North and South Dakota with more snow now in the forecast for late this week,” he says. “I am also watching the dry weather pattern in the southern Plains. Between those two major crop areas, about 30% of the central U.S. is facing some weather challenge.”
Yesterday’s USDA Crop Progress report showed corn planting progress at 8%. Kluis says while that is ahead of last year it is not as far along as expected, and given the weather challenges, “the pace may stay slow.”
Live cattle are down 43¢. Lean hogs are down 73¢. Feeder cattle are down 5¢.
Crude oil is down 37¢.
S&P 500 futures are up 15 points. Dow futures are down 55 points.