Soybeans Close Up More Than 30¢

March corn ended the day up 5¾¢ at $4.90 per bushel.

March soybeans closed up 33¼¢ at $10.67¼ per bushel.

March wheat contracts also closed higher. CBOT wheat was up 20¢ at $5.58¾ per bushel. KC wheat was up 27¢ at $5.75½ per bushel. Minneapolis wheat was up 21¢ at $6.04½ per bushel.

“A sharp drop in the U.S. Dollar Index and the ongoing cold snap with minimal snow cover for the Plains sent wheat futures sharply higher to start the week,” said the Grain Market Insider newsletter by Stewart-Peterson Inc.

The newsletter noted the lower dollar supported the entire grain complex today and soybeans were also supported by rain delaying the Brazilian harvest.

Concerning corn, Grain Market Insider noted today’s Grains Inspected and/or Weighed for Export report from USDA was supportive, as were concerns over hot, dry Argentinian weather, and the fact the new presidential administration hasn’t implemented new tariffs on key agricultural export countries yet.

As of 3:37 p.m. CT, the U.S. Dollar Index March contract was down to 107.78.

April live cattle ended the day down 18¢ at $197.33 per hundredweight (cwt). March feeder cattle were down 80¢ at $267.25 per cwt. April lean hogs were down $1.63 at $86.70 per cwt.

A little after 3 p.m. CT, March crude oil was down $1.34.

March S&P 500 futures were up 57 points. March Dow futures were up 566 points.

Published: 3:52 p.m. CT

Soybeans Up 15¢: 9:23 a.m. CT

Just ahead of 9 a.m. CT, March corn was down less than a penny.

March soybeans were up 15¢.

March wheat contracts were also higher. CBOT wheat was up 13¾¢. KC wheat was up 13¢. Minneapolis wheat was up 8¾¢.

“Grain and soybean futures mostly extended gains in early trading after President Trump held off issuing any executive orders for new tariffs on his first day in office,” said The Brock Report of the overnight session. “A weaker dollar has contributed to the gains, while corn and soybean futures have also found support from renewed concerns about crop conditions in Argentina after weekend rains provided only limited relief across much of that country’s main crop belt.”

April live cattle were up 25¢ ahead of the 9 a.m. CT hour. March feeder cattle were up $1.18. April lean hogs were up 68¢.

March crude oil was down $1.44.

The U.S. Dollar Index March contract was down to 108.20.

March S&P 500 futures were up 27 points. March Dow futures were up 273 points.

Published: 9:23 a.m. CT