Soybeans End Day Down Nearly 4¢

March corn ended the day up 1¾¢ at $4.41¾ per bushel.

January soybeans closed down 3¾¢ at $9.90 per bushel.

March wheat contracts closed higher today. CBOT wheat ended the day up 1½¢ at $5.58¾ per bushel. KC wheat was up 5¢ for the day at $5.58¾ per bushel. Minneapolis wheat was up 6¾¢ for the day at $6.03¼ per bushel.

“The grain market took different approaches today as corn and wheat did everything they could to stay positive while soybeans sunk slightly lower on the day,” said Aaron Huebner, commodity broker with CHS Hedging. “With a USDA WASDE [World Agricultural Supply and Demand Estimates] report coming out tomorrow, the daily trade seemed to just square itself up and not get too far out of position incase of any surprises.”

Read what Grain Market Insider analyst Scott Masters says farmers should know before tomorrow’s report here.

“The energy markets found strength today after the weekend developments in Syria,” Huebner said. “If you haven’t already heard, the Assad regime fell over the weekend after rebel groups made a surprise advancement causing the Syrian president to seek asylum in Russia.”

January crude oil is currently up $1.01.

February live cattle ended the day up 85¢ at $187.03 per hundredweight (cwt). January feeder cattle closed down 3¢ today at $255.80 per cwt. February lean hogs closed down 83¢ today at $86.50 per cwt.

December S&P 500 futures are currently down 36 points. December Dow futures are down 245 points.

Published: 3:52 p.m. CT

Soybeans Up 4¢ This Morning: 9:22 a.m. CT

March corn is up 1¼¢ this morning.

January soybeans are up 4¢.

March wheat contracts are also higher. CBOT wheat is up 4½¢. KC wheat is up 4½¢. Minneapolis wheat is up 5¼¢.

“Grain and oilseed futures are pointed higher to start the week after firm overnight trade,” said The Brock Report following the end of the overnight trading session. “The market is driven by technically driven buying and short-covering, particularly in corn and wheat, which are both looking like they’ve established a bottom…. The upside [for corn and soybeans] is limited by continued favorable South American weather and rising crop estimates.”  

February live cattle are up 80¢ this morning. January feeder cattle are up $1.18. February lean hogs are down 45¢.

January crude oil is up $1.34.

The U.S. Dollar Index December contract is down to 105.91.

December S&P 500 futures are down 6 points. December Dow futures are up 20 points.

Published: 9:22 a.m. CT