Soybeans close down 25¢ | Thursday, November 16, 2023

March corn ended the day up 4¢. The Brock Report at midday credited corn's better-than-expected export sales in this morning's USDA report for its gains.

January soybean closed dow 25¢.

March CBOT wheat is down 6½¢. March KC wheat is down 12¢. December Minneapolis wheat is down 9¼¢.

Livestock ended the day mixed. February live cattle are down $3.28. February lean hogs are up 60¢. January feeder cattle are down $3.68.

Crude oil is down $3.84.

S&P 500 futures are down 6 points. Dow futures are down 136 points.

Published: 1:51 p.m. CST

Corn in the green at midday: 11:37 a.m. CST

At midday March corn is up 4¢.

January soybeans are up a little from this morning but still down 18½¢.

March CBOT wheat is down 6½¢. March KC wheat is down 9½¢. December Minneapolis wheat is down 6¼¢.

February live cattle are down $2.88. February lean hogs are up 10¢. January feeder cattle are down $3.80.

Crude oil is down $3.71.

The U.S. Dollar Index December contract is down to 104.24.

S&P 500 futures are down 7 points. Dow futures are down 103 points.

Published: 11:37 a.m. CST

'Red across the board': 9:34 a.m. CST

March corn is down 4¢.

January soybeans are down 27¢.

March CBOT wheat is down 9½¢. March KC wheat is down 8¾¢. December Minneapolis wheat is down 7½¢.

"Grain and soybean futures are in the red across the board at the end of early trading, with soybean futures having come under increased pressure overnight from prospects for improved weather in key Brazilian growing areas next week," said The Brock Report prior to the 8:30 a.m. open. "Corn futures have also been pressured by Brazilian weather prospects and favorable weather in Argentina. Wheat futures have been pressured by technically-driven selling, corn market weakness and continued poor export demand for U.S. wheat."

Livestock are also in the red this morning. February live cattle are down $1.40. February lean hogs are down 70¢. January feeder cattle are down $1.55.

Crude oil is down $2.89.

S&P 500 futures are down 3 points. Dow futures are down 57 points.

USDA released the weekly Export Sales report this morning. Corn export sales exceeded expectations. Soybeans were within the expected range. Wheat sales came in below expectations.

• Corn: Net sales of 1,807,500 metric tons for 2023/2024, up 78% from the prior week
• Soybeans: Net sales of 3,918,400 metric tons for 2023/2024, a marketing-year high
• Wheat: Net sales of 176,300 metric tons for 2023/2024, down 50% from the prior week

USDA also announced a new sale today. Unknown destinations are buying 220,000 metric tons of soybeans for delivery during the 2023/2024 marketing year.

Published: 9:34 a.m. CST