Corn is currently up 6¢ while soybeans are down 2¢.
CBOT wheat is up 3¢. KC wheat is up 8¢. Minneapolis wheat is up a penny.
Live cattle are up 15¢. Lean hogs are up 90¢. Feeder cattle are down 53¢.
Crude oil is down 65¢.
The U.S. Dollar Index is at 102.42.
S&P 500 futures are down 29 points. Dow futures are down 74 points.
Corn up a penny this morning: 9:37 a.m. CDT
Corn is up a penny while soybeans are down a penny this morning.
CBOT wheat is down 3¢. KC wheat is up 2¢. Minneapolis wheat is down less than a penny.
Al Kluis, managing director for Kluis Commodity Advisors, says the big news today is Russia threatening to not renew the Black Sea Grain Deal after it expires next month, which boosted wheat and soybean oil overnight.
Nick Tsiolis, founder of Farmer’s Keeper, says warm, dry weather conditions forecasted for the Midwest officially opens the first planting window in many areas.
“We expect many producers to either be preparing equipment or spraying and planting this week,” he says. “That all sets us up for what could be a smooth planting season in the highest yielding areas of the grain belt, which we still see as outweighing drought in the western plains and possible delayed planting in the northern plains.”
Commodity Weather Group says rain and melting snow in the northern Plains will limit field work for the next 11 to 15 days. Naomi Blohm, senior market advisor for Total Farm Marketing, says “Remember a sizable portion of the increase in soybeans acres this year is expected to come from North Dakota, with an 850,000-acre increase in soybeans and an 800,000-acre increase in corn.”
Live cattle are down 40¢. Lean hogs are up 20¢. Feeder cattle are down $1.00.
Crude oil is down 4¢.
S&P 500 futures are down 39 points. Dow futures are down 128 points.
