Corn closes down slightly | Thursday, October 26, 2023

December corn ended the day down by less than a penny.

November soybeans are down 9½¢.

CBOT wheat is up 12¢. KC wheat is up 6½¢. Minneapolis wheat is up 3½¢.

"Ukraine announced overnight that they would be suspending their humanitarian corridor temporarily," says Grain Market Insider by Stewart-Peterson Inc. "This is apparently due to Russian threats. Since its inception, the corridor has allowed for about 40 grain cargoes to be transported via the Black Sea. However, Ukraine’s grain shipments are still down roughly 30% from last year."

The Brock Report says the weather this week is slowing harvest progress.

"U.S. corn and soybean harvest progress is now being slowed by rains in parts of the western Corn Belt - and by snow in parts of North Dakota," says The Brock Report. "Wet weather will continue through Sunday and harvesting will be slowed, but good progress is expected after the precipitation when drier weather returns Monday through Nov. 9 as the soil is dry enough in much of the region to soak up the moisture without becoming excessively muddy. Conditions in the eastern Corn Belt are generally better for harvest, with temperatures in the 70s and sunny from central Indiana across Ohio."

Live cattle are down 40¢. Lean hogs are up 85¢. Feeder cattle are down $1.63.

Crude oil is down $2.08.

S&P 500 futures are down 34 points. Dow futures are down 126 points.

Published: 2:34 p.m. CDT

Corn and soy turn red at midday: 12 p.m. CDT

December corn is currently down 1¼¢.

November soybeans are down 5½¢.

CBOT wheat is up 9½¢. KC wheat is up 3¾¢. Minneapolis wheat is up 5½¢.

Live cattle are up 63¢. Lean hogs are up 43¢. Feeder cattle are down $1.23.

Crude oil is down $1.68.

The U.S. Dollar Index December contract is up to 106.71.

S&P 500 futures are down 55 points. Dow futures are down 227 points.

Published: 12 p.m. CDT

Grains start day in the green: 9:10 a.m. CDT

December corn is currently up 4¢.

November soybeans are up 7¼¢.

CBOT wheat is up 5½¢. KC wheat is up 5¢. Minneapolis wheat is up 6¼¢.

USDA announced a sale this morning of 110,000 metric tons of soybeans to China for the 2023/2024 marketing year.

USDA also released the weekly Export Sales report. Soybeans and wheat export sales were within the expected range for sales for the 2023/2024 marketing year but corn exceeded expectations.

• Corn: Net sales of 1,351,100 metric tons, up 53% from the previous week and 22% from the prior four-week average.
• Soybeans: Net sales of 1,378,200 metric tons, a marketing-year high.
• Wheat: Net sales of 363,700 metric tons, down 43% from the previous week and 31% from the prior four-week average.

Naomi Blohm, senior market advisor for Total Farm Marketing, characterized today's report as "phenomenal."

Live cattle are up 35¢ this morning. Lean hogs are up 68¢. Feeder cattle are down 30¢.

Crud oil is down $2.27.

S&P 500 futures are down 25 points. Dow futures are down 15 points.

Published: 9:10 a.m. CDT