Markets Markets Analysis Grain futures higher ahead of WASDE tomorrow | Thursday, July 11, 2024 Grain futures are higher this morning after a bearish streak ahead of the USDA report tomorrow morning. By Bob Linneman Bob Linneman Bob grew up on a diverse farm in eastern South Dakota. Between milking cows, managing a beef herd, and farming various crops, he experienced many aspects of agriculture firsthand. After graduating from North Dakota State University with a degree in business, he moved to Hawaii with his wife. There he was an associate portfolio manager for a fixed income firm that managed $2 billion in assets. After nearly two years in Hawaii, he moved back to the Midwest and began his career in commodities. Currently, he is a commodities broker with Kluis Commodity Advisors. Bob is licensed as a Series 3 and Series 30 commodity broker. Successful Farming's Editorial Guidelines Published on July 11, 2024 Close Photo: iStock: PashaIgnatov Grain futures are higher this morning after a bearish streak ahead of the USDA report tomorrow morning. Many futures contracts hit or were very close to contract lows in recent days. The rally today is likely a little short covering. Corn is up 6¢, soybeans are up 7¢ and wheat futures are up 8 to 13¢. Livestock futures are quietly higher this morning after a rough past three days. August Feeder Cattle had fallen $10 from the high on Monday to the low yesterday. Feeder Cattle futures are up $1.40 to $1.70. Live Cattle are up 60¢ and Lean Hogs are near steady to start the day. The U.S. dollar index is down 0.70 points this morning at 104.3. Futures are well below the 100-day moving average after the slide today. The dollar is reacting to a better than expected CPI report out earlier showing inflation pressure is easing. The stock market is trading near steady while crude oil futures are down 50¢. Published at 8:48 a.m. CST 3 Big Things Today, July 11, 2024 For a free trial of The Kluis Report, including three times a day market updates and the Saturday newsletter, visit kluiscommodities.com, call 888-345-2855, or email info@kluiscommodityadvisors.com. Editor's Note: The risk of loss in trading futures and/or options is substantial, and each investor and/or trader must consider whether this is a suitable investment. Past performance – whether actual or indicated by simulated historical tests of strategies – is not indicative of future results. Trading advice reflects good-faith judgment at a specific time and is subject to change without notice. There is no guarantee the advice given will result in profitable trades. Was this page helpful? Thanks for your feedback! Tell us why! Other Submit