Soybeans Close Up 12¢ | Wednesday, October 30, 2024

December corn ended the day down 2¼¢.

January soybeans closed up 12¼¢.

December what contracts closed higher. CBOT wheat was up 2¾¢. KC wheat was up 1½¢. Minneapolis wheat was up 2½¢.

“Futures were mixed for much of today’s session with corn seeing both sides of unchanged while soybeans and wheat favored the upside,” said Karl Setzer, partner at Consus Ag Consulting. “Corn is still feeling the negative impact of harvest pressure, and this weighed on that market today. This pressure is lifting on soybeans, and with borrowed strength from the energy complex, [soybeans were] able to post solid gains. A poorly rated U.S. winter crop and ongoing weather stress in the Black Sea was favorable for the wheat complex.”

In Monday’s USDA Crop Progress report, winter wheat condition in the top 18 growing states was rated 38% good/excellent as of Oct. 27. According to the Grain Market Insider newsletter, winter wheat’s ratings in Monday’s report “came in at the second-lowest level since 1986, well below expectations.”

December live cattle were down $1.53 at the close. January feeder cattle were down $2.05. December lean hogs closed up $1.55.

December crude oil is currently up $1.68.

December S&P 500 futures and Dow futures are currently down 26 points and 88 points, respectively.

Published: 3:32 p.m. CT

Soybeans Up 11¢: 9:36 a.m. CT

December corn has been on both sides of unchanged this morning and is currently down less than a penny.

January soybeans are up 11¼¢.

December wheat contracts are higher. CBOT wheat is up 5½¢. KC wheat is up 3¾¢. Minneapolis wheat is up 5¾¢.

This morning USDA announced new export sales:

• China is buying 132,000 metric tons of soybeans for the 2024/2025 marketing year.
• Unknown destinations are buying 132,000 metric tons of soybeans and 273,048 metric tons of corn for the 2024/2025 marketing year.

December live cattle are down 60¢. January feeder cattle are down $1.95. December lean hogs are up 78¢.

December crude oil is up 96¢.

The U.S. Dollar Index December contract is down to 103.93.

December S&P 500 futures are up 6 points. December Dow futures are up 107 points.

Published: 9:36 a.m. CT