Grains close in the green | Wednesday, November 8, 2023

December corn ended the day up 6½¢.

January soybeans are up 4¾¢.

CBOT wheat is up 19¾¢. KC wheat is up 20¾¢. Minneapolis wheat is up 11¼¢.

"Sparking the jump in wheat today was detailed in a Reuters article where a civilian vessel under a Liberian flag was damaged," says Kevin Stockard, commodities broker with CHS Hedging. "In the article, it cites the Ukrainian military accusing a Russian missile of the damage of the vessels and the killing of one onboard."

Live cattle are up 43¢. Lean hogs are down $1.25. Feeder cattle are up $1.68.

Crude oil is down $2.13.

The U.S. Dollar Index December contract is up to 105.42.

S&P 500 futures are down less than one point. Dow futures are down 81 points.

Tomorrow USDA will release the November World Agricultural Supply and Demand Estimates (WASDE) report. The trade is expecting an uptick in corn yield and production. Soybean production is also expected to be raised. The trade is also expecting an increase in domestic corn and soybean ending stocks for 2023/2024.

Published: 1:54 p.m. CST

Chicago wheat up 23¢: 11:28 a.m. CST

December corn is currently up 7½¢.

January soybeans are up 14¼¢.

CBOT wheat is up 23¼¢. KC wheat is up 23½¢. Minneapolis wheat is up 8¾¢.

This morning USDA announced several export sales:

• China is buying 433,000 metric tons of soybeans for delivery during the 2023/2024 marketing year.
• Mexico is buying 270,000 metric tons of corn for delivery during the 2023/2024 marketing year.
• Unknown destinations are buying 132,000 metric tons of soybeans for delivery during the 2023/2024 marketing year.
• Finally, 344,500 metric tons of soybeans received in the reporting period are for delivery to unknown destinations during the 2023/2024 marketing year.

Live cattle are up $1.35. Lean hogs are down 93¢. Feeder cattle are up $1.43.

Crude oil is down $1.75.

S&P 500 futures are down 16 points. Dow futures are down 131 points.

Published: 11:28 a.m. CST

Soybeans start day up 20¢: 8:57 a.m. CDT

December corn is up 6¾¢ this morning while January soybeans are up 20¾¢.

CBOT wheat is up 12¼¢. KC wheat is up 11½¢. Minneapolis wheat is up 8¼¢.

"The USDA reported a flash sale of soybeans to China yesterday in addition to rumors of more sales," says Jeremy McCann, account manager for Farmer's Keeper. "That news, on top of an unfavorable forecast for Brazil, is keeping the soybean rally alive.

"Corn on the other hand traded to a new harvest low yet again yesterday. The corn market is struggling to find length especially as the trades are estimating an increase to corn production in tomorrow's crop production report."

Live cattle are down 60¢. Lean hogs are down $1.03. Feeder cattle are down $1.93.

Crude oil is down 72¢.

S&P 500 futures are up 7 points. Dow futures are up 50 points.

Published: 8:57 a.m. CST