Soybeans close down more than 18¢ | Wednesday, February 21, 2024

March corn ended the day down 7¾¢.

March soybeans closed down 18¼¢.

March CBOT wheat squeaked out a gain less than a penny. KC wheat is down 8½¢. Minneapolis wheat is down 6¼¢.

In its midday comments The Brock Report cited pressure from technical selling, abundant world supplies, a lack of new demand news, and benign weather conditions in South America as pressure points today.

Livestock closed mixed. Live cattle are up 38¢. Feeder cattle are down 3¢. Lean hogs are up 30¢.

Crude oil is up 82¢.

S&P 500 futures are down 26 points. Dow futures are down 174 points.

Published: 1:50 p.m. CST

Grains starting day in the red: 8:57 a.m. CST

March corn is down 3¼¢ this morning.

March soybeans are down 8½¢.

CBOT wheat is down 8½¢. KC wheat is down 7¾¢. Minneapolis wheat is down 8¼¢.

"Grain and soybean futures are back in the red this morning, as they have so far been unable to follow through on Tuesday's gains amid renewed pressure from ideas U.S. and world supplies are ample to meet demand and expectations for U.S. supplies to grow further in 2024/2025," says The Brock Report. "Poor export demand for U.S. soybeans and wheat amid stiff competition from South American soybeans and Black Sea region wheat continues to weigh on prices for those commodities."

Live cattle are up 53¢. Feeder cattle are up $1.20. Lean hogs are up 48¢.

Crude oil is up 16¢.

The U.S. Dollar Index March contract is down to 103.96.

S&P 500 futures are down 15 points. Dow futures are down 132 points.

Published: 8:57 a.m. CST