Corn closes up 5¢ | Thursday, August 17, 2023

December corn ended the day up 5¢.

November soybeans closed up 7¢.

CBOT wheat is down 7¾¢. KC wheat is down 11½¢. Minneapolis wheat is down 3¼¢.

October livestock closed mixed. Live cattle are down 85¢. Lean hogs are up $1.13. Feeder cattle are down $1.38.

Crude oil is up $1.01.

S&P 500 futures are down 18 points. Dow futures are down 150 points.

Published: 1:45 p.m. CDT

Soybeans up 9¢ at midday: 11:33 a.m. CDT

At midday December corn is up 3¾¢ and November soybeans are up 9¢.

CBOT wheat is down 5½¢. KC wheat is down 8½¢. Minneapolis wheat is down 4¢.

"Corn is trading slightly higher near midday, but prices remain near their lowest levels of the year despite the forecast for hot and dry conditions until next week," says Grain Market Insider by Stewart-Peterson Inc. "Dryness is forecast all along the Corn Belt and Midwest over the next seven days, but the heat will be most intense in the western Plains while the eastern Corn Belt should not experience the extreme heat as much."

The newsletter says while wheat is trading lower, it has come up from morning lows.

"Regarding the attacks in the Black Sea region, the markets seem to only react on the day that grain silos are destroyed, or agricultural infrastructure is destroyed," says Grain Market Insider. "By the next day, markets are content to trend lower."

October livestock are still mixed. Live cattle are down 40¢. Lean hogs are up $1.45. Feeder cattle are down $1.60.

Crude oil is up $1.37.

The U.S. Dollar Index September contract is down to 103.31.

S&P 500 futures are down 3 points. Dow futures are down 34 points.

Published: 11:33 a.m. CDT

Corn up 3¢: 9:48 a.m. CDT

December corn is currently up 3¢ while November soybeans are up 4¾¢.

CBOT wheat is down 6½¢. KC wheat is down 9½¢. Minneapolis wheat is down 4¼¢.

This morning USDA released the weekly Export Sales report. Corn and soybean export sales for the 2022/2023 marketing year were within the expected range.

For the 2023/2024 marketing year corn and wheat were within the expected range but soybeans exceeded expectations with 1,407,500 metric tons in net sales.

Nick Paumen, commodity broker for CHS Hedging, says the report's numbers were "very good" for soybeans and neutral for corn and wheat.

October live cattle are down 85¢. October lean hogs are up $1.55. October feeder cattle are down $2.20.

Crude oil is up $1.29.

S&P 500 futures are down less than a point. Dow futures are up 82 points.

Published: 9:48 a.m. CDT