Soybeans Up Nearly 7¢ | Thursday, May 8, 2025

Ahead of 9 a.m. CT, July corn was down 1¼¢ at $4.48 per bushel.

July soybeans were up 6¾¢ at $10.46 per bushel.

July wheat contracts were lower. CBOT wheat was down 2½¢ at $5.31¾ per bushel. KC wheat was down 2¼¢ at $5.27¼. Minneapolis wheat was down less than a penny at $6.02¼.

This morning, USDA announced multiple new export sales:

• Mexico is buying 205,000 metric tons of corn — 40,000 metric tons for the 2024/2025 marketing year and 165,000 metric tons for the 2025/2026 marketing year.
• Unknown destinations are buying 115,000 metric tons of corn for the 2024/2025 marketing year.
• Pakistan is buying 225,000 metric tons of soybeans for the 2025/2026 marketing year.

Also this morning, USDA released the weekly U.S. Export Sales report.

“USDA reported solid weekly export sales data for this time of year for corn, soybeans, and wheat this morning, while pork and beef sales continue to reflect the loss of business with China,” said Arlan Suderman, chief commodities economist at StoneX. “Japan was the featured buyer of U.S. corn during the week, while Mexico was the top buyer of soybeans. It shows that cheap prices find demand, although the question remains over whether prices have become cheap enough yet to buy sufficient demand to match the anticipated supply. … It should be noted that July corn fell below a triple-bottom on the charts on Wednesday, reflecting the vulnerability of that crop to falling lower trying to uncover more demand.”

June live cattle were up 35¢ at $212.88 per hundredweight (cwt) ahead of 9 a.m. CT. August feeder cattle were up 70¢ at $299.30 per cwt. June lean hogs were down 23¢ at $97.10 per cwt.

June crude oil was up $1.35 at $59.42 per barrel.

The U.S. Dollar Index June contract was up to 99.74.

June S&P 500 futures were up 24 points. June Dow futures were up 134 points.

Published: 9:34 a.m. CT