Corn closes down 9¢| Tuesday, August 29, 2023

December corn ended the day down 9¢.

USDA's announcement this morning that 246,100 metric tons of soybeans were sold to to unknown destinations for the 2023/2024 marketing year wasn't enough to boost soybeans today. November soybeans closed down 13½¢ after closing higher four days in a row.

This morning USDA also announced the sale of 105,000 metric tons of soybean cake and meal to unknown destinations for the 2023/2024 marketing year.

CBOT wheat closed lower for the fourth day in a row, down 18¼¢. KC wheat is down 21¾¢. Minneapolis wheat is down 9½¢.

October livestock all closed in the red. Live cattle are down 10¢. Lean hogs are down $1.23. Feeder cattle are down 45¢.

Crude oil is up $1.13.

S&P 500 futures are up 57 points. Dow futures are up 223 points.

Published: 2:08 p.m. CDT

Grains still in the red at midday: 11:31 a.m. CDT

December corn is down 2½¢ at midday.

November soybeans are down 8¼¢.

CBOT wheat is down 13¼¢. KC wheat is down 15¾¢. Minneapolis wheat is down 2¢.

October livestock are mixed at midday. Live cattle are now up 40¢. Lean hogs are down 70¢. Feeder cattle are up 30¢.

Crude oil is up 37¢.

The U.S. Dollar Index September contract is down to 103.66.

S&P 500 futures are up 51 points. Dow futures are up 201 points.

Published: 11:31 a.m. CDT

Soybeans down 9¢: 9:10 a.m. CDT

December corn is currently down 1¼¢.

November soybeans are down 9¼¢.

CBOT wheat is down 10¾¢. KC wheat is down 14¢. Minneapolis wheat is flat.

Arlan Suderman, chief commodities economist for StoneX, says while corn and soybean crop conditions declined in yesterday's Crop Progress report, the decline was not as large as the market expected and this caused prices to retreat overnight.

"The market is still trying to find which direction it wants to go," says Jeremy McCann, account manager with Farmer's Keeper, "A continued poor export market seems to be squandering the movement that our current hot and dry weather pattern would lead to."

October livestock are in the red this morning. Live cattle are down 55¢. Lean hogs are down 50¢. Feeder cattle are down 80¢.

Crude oil is down 30¢.

S&P 500 futures are up 9 points. Dow futures are up 56 points.

Outside of the U.S., milling wheat is down on the MATIF trade. Corn is down on the Dalian trade while soybeans are up.

Published: 9:10 a.m. CDT