Corn is currently up 7¢ and soybeans are up 10¢.
CBOT wheat is up 23¢. KC wheat is up 28¢. Minneapolis wheat is up 17¢.
Naomi Blohm with Total Farm Marketing says grains are up on the news that weather is back to hot and dry in Argentina and the war between Russia and Ukraine is escalating and moving west toward NATO countries.
In addition to USDA reducing its projection for Argentina production this week, Reuters reports the Buenos Aires grain exchange reduced its estimate of Argentina soybean production to 38 million metric tons, 10 million below the September estimate. The Rosario grains exchange also cut their soybean production forecast for Argentina this week to 34.5 million metric tons, according to Reuters.
Live cattle are up 45¢. Lean hogs are down 28¢. Feeder cattle are down 33¢.
Crude oil is up $1.19.
S&P 500 futures are down 2 points. Dow futures are up 51 points.
