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At the Friday market close, July corn was down 5¢ at $4.43½ per bushel.
July soybeans were 1¼¢ weaker at $10.50 per bushel.
“It was no surprise that [Friday’s] trade was choppy and volatile after the week we have had.” Said Karl Setzer, Partner with Consus Ag Consulting, “Choppy trade started with the release of the monthly WASDE report on Monday that surprised the market with tighter new crop U.S. ending stocks on corn and soybeans, with soybeans well into a rationing range. Trade really did not react that positively to this news as future soy demand, mainly for biodiesel production, became less bullish.”
Setzer added, “Rains for the driest regions of the Western U.S. pressured grains [Friday], especially wheat contracts.”
July wheat markets were weaker at the close. CBOT wheat was down 7¾¢ at $5.25 per bushel. KC wheat was 11¾¢ lower at $5.16½ per bushel. Minneapolis wheat fell 6¾¢ at $5.73¼ per bushel.
June live cattle were up 90¢ at $206.75 per hundredweight (cwt). August feeder cattle jumped $1.77 at $297.60 per cwt. June lean hogs were 5¢ higher at $104.17 per cwt.
Just before 3:00 p.m. CT, June crude oil was up 71¢ at $61.86 per barrel.
June S&P 500 futures were up 33 points. June Dow futures increased 329 points.
The June U.S. Dollar Index jumped 201 points.
Published: 3:18 p.m. CT
Soybeans In the Green This Morning: 9:35 a.m. CT
As of 8:42 a.m. CT, July corn was down less than a penny at $4.47¾ per bushel.
July soybeans were up 4¾¢ at $10.56 per bushel.
July wheat contracts were lower. CBOT wheat was down 1¾¢ at $5.31 per bushel. KC wheat was down 2¾¢ at $5.25½. Minneapolis wheat was down 1½¢ at $5.78½.
As of 8:43 a.m. CT, August live cattle were up 15¢ at $206 per hundredweight (cwt). August feeder cattle were up 45¢ at $296.28 per cwt. July lean hogs were up 73¢ at $104.85 per cwt.
July crude oil was up 24¢ at $61.39 per barrel.
The U.S. Dollar Index June contract was down to 100.64.
June S&P 500 futures were up less than 1 point. June Dow futures were down 31 points.
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