Grains close in the red | Friday, November 17, 2023

At the close, December corn is down 6¾¢ and March corn is down 7¼¢.

January soybeans are down 16¼¢.

For the December wheat contracts, CBOT is down a penny, KC is down 7¾¢, and Minneapolis is down 10½¢. For March wheat CBOT is down 3¾¢, KC is down 7½¢, and Minneapolis is down 8¾¢.

"Brazil weather remains the primary focus in the grain and oilseed sector," said Arlan Suderman, chief commodities economist for StoneX, at midday. "The soybean market was the strength of the sector when the forecasts were hot and dry in Center-West Brazil, and now that strength is absent as rains move forward in the forecast."

Livestock ended the day mixed, with both the December and February live cattle contracts in the green, January feeder cattle in the green, but both the December and February lean hogs contracts down.

December crude oil is up $2.80.

December S&P 500 futures are up 5 points. December Dow futures are up one point.

Published: 2:06 p.m. CST

Soybeans down 15¢ at midday: 11:33 a.m. CST

December corn is down 6¢ at midday.

January soybeans are down 15¾¢.

December wheat contracts are down. CBOT wheat is down less than a penny. KC wheat is down 9¼¢. Minneapolis wheat is down 8¼¢.

Livestock is mixed. December live cattle are up $1.08. December lean hogs are down 5¢. January feeder cattle are up $1.15.

December Crude oil is up $2.71.

The U.S. Dollar Index December contract is down to 103.91.

S&P 500 futures are up less than one point. Dow futures are down 22 points.

Published: 11:33 a.m. CST

Corn down 4¢: 9:38 a.m.

Currently December corn is down 4½¢ while March corn is down 4¾¢.

January soybeans are down 10¾¢.

December and March CBOT wheat are down about 4¢. December and March KC wheat are both down by roughly 10¢. Minneapolis wheat has more of a spread between December and March, down 8¼¢ and 4¼¢ respectively.

The Brock Report says grains and oilseeds are under pressure from demand concerns and improved weather prospects for Brazil.

"Next week's weather in Brazil will likely have a lot to say about whether soybean futures have put in another major high," says The Brock Report. "World Weather Inc. says evidence is beginning to come together suggesting the Brazil monsoon may begin to evolve in the last days of November and early December. The general outlook for Brazil is not expected to change for at least the next two weeks, although World Weather, Inc. does not see another period as hot and dry as the current one occurring again during the next few weeks of summer weather in Brazil."

Livestock are mostly lower. December live cattle are down 13¢ but February live cattle are up 15¢. December and February lean hogs are in the red. January feeder cattle are down $1.00.

Crude oil is up $1.86.

S&P 500 futures are down 2 points. Dow futures are down 23 points.

Published: 9:38 a.m. CST