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July corn is down 10¢ while July soybeans are up a penny.
July wheat is mixed. CBOT wheat is down 3¢. KC wheat is up 3¢. Minneapolis wheat is up 7¢.
READ MORE: Abnormally dry conditions remain after snowy South Dakota winter
Naomi Blohm, senior market advisor with Total Farm Marketing, says May corn is trading at nearly a 50¢ premium to July corn. She says it may unwind this week into Friday — the first notice day for May grain futures — or July may rally to the May price.
USDA announced this morning China canceled a purchase of 327,000 metric tons of corn that was supposed to be delivered for the 2022/2023 marketing year.
Live cattle are down $1.05. Lean hogs are up 73¢. Feeder cattle are down $1.50.
Crude oil is up 35¢.
S&P 500 futures are up 3 points. Dow futures are up 12 points.
