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At the market close, December corn was down 13¼¢ at $3.94½ per bushel.
November soybeans were up 21½¢ at $10.32¾ per bushel.
“The trade was expecting a bearish leaning report with higher production and ending stocks on corn and soybeans.” Karl Setzer, partner with Consus Ag Consulting, said, “The lack of a significant weather threat also pressured futures, although more models are indicating a hot finish to August which has been known to negatively impact yields.”
September CBOT wheat was down 10¢ at $5.05 per bushel. September KC wheat was 8¼¢ lower at $5.10¾ per bushel. December Minneapolis wheat was down 4¢ at $5.53½ per bushel.
October live cattle were up $2.92 at $229.02 per hundredweight (cwt). September feeder cattle were $5.65 stronger at $346.25 per cwt. October lean hogs fell 17¢ at $91.60 per cwt.
September crude oil was down 80¢ at $63.16 per barrel.
As of 3:10 p.m. CT, the S&P 500 Index was up 70.61 points, and the Dow Jones Industrial Average jumped 457.53 points.
The September U.S. Dollar Index was down 461 points.
Published: 3:15 p.m. CT
Grains Weaker Pre-Report: 9:30 a.m. CT
Just after 9 a.m. CT, December corn was down 3½¢ at $4.04¼ per bushel.
November soybeans were down 13¼¢ at $9.98 per bushel.
“We’re not surprised to see some weakness across the grain and oilseed landscape overnight.” Reese Drenth, ag solutions specialist with Mihlig Ag Solutions, said, “Traders usually don’t rock the boat too much ahead of 11 a.m. CT on USDA report days and [Monday’s] price action was very reactionary and unsubstantiated. We wouldn’t be surprised to see more ‘risk taken out’ via lower prices as the morning progresses.”
September CBOT wheat was down 3½¢ at $5.11½ per bushel. September KC wheat was 2¢ lower at $5.17 per bushel. December Minneapolis wheat was up 4¾¢ at $5.57½ per bushel.
October live cattle were up 55¢ at $226.65 per hundredweight (cwt). September feeder cattle were $1.07 stronger at $341.67 per cwt. October lean hogs increased 12¢ at $91.90 per cwt.
September crude oil was down 49¢ at $63.47 per barrel.
As of 9:20 a.m. CT, the S&P 500 Index was up 23.91 points, and the Dow Jones Industrial Average jumped 370.86 points.
The September U.S. Dollar Index was down 286 points.
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