Soybeans close up 10¢ | Monday, November 6, 2023

December corn ended the day up by half a penny.

January soybeans closed up 10¾¢ at $13.62½. Today was the fifth day in a row soybeans closed higher. This morning Al Kluis, managing director of Kluis Commodity Advisors, said to watch for a January soybeans close above $13.70 today. The high for the day fell just shy of $13.70 and the close was off by more than 7¢.

CBOT wheat is up 3¢. KC wheat is up 1½¢. Minneapolis wheat is up 7¾¢.

Live cattle are down $2.40. Lean hogs are up 45¢. Feeder cattle are down $3.43.

Crude oil is up 49¢.

S&P 500 futures are up 2 points. Dow futures are flat.

Published: 2:13 p.m. CST

Soybeans up 17¢ at midday: 11:53 a.m. CST

December corn is currently up 2½¢.

January soybeans are up 17¼¢.

CBOT wheat is up 3½¢. KC wheat is up 3¼¢. Minneapolis wheat is up 5¢.

Live cattle are down $2.08. Lean hogs are up 65¢. Feeder cattle are down $2.53.

Crude oil is up $1.45.

The U.S. Dollar Index December contract is up to 104.93.

S&P 500 futures are up a point. Dow futures are up 9 points.

Published: 11:53 a.m. CST

Soybeans up 11¢: 9:11 a.m. CST

December corn is up 2¾¢.

January soybeans are up 11¢. Kluis says to watch today's close to see if soybeans can settle higher than $13.70.

CBOT wheat is up 3¢. KC wheat is up 4¾¢. Minneapolis wheat is up 3½¢.

This morning USDA announced China is buying 126,000 metric tons of soybeans for delivery during the 2023/2024 marketing year and Mexico is buying 289,575 metric tons of corn for delivery during the 2023/2024 marketing year.

Jeremy McCann, account manager for Farmer's Keeper, says needed rains in Brazil did not materialize as expected this weekend.

"Brazil is very dry and it's forecasted to stay that way for the foreseeable future which will likely cause soybeans to continue to rally," he says. "If the lack of moisture is prolonged it will undoubtedly affect Brazil's corn crop as well. Brazilian weather and this week's reports are the stories to keep an eye on."

On Thursday USDA is releasing the monthly World Agricultural Supply and Demand Estimates (WASDE) report. According to Grain Market Insider newsletter by Stewart-Peterson Inc., many analysts expect the report to increase the corn yield estimate to near 173.3 bushels per acre in response to reports of good yields.

Live cattle are down $1.10 this morning. Lean hogs are up 58¢. Feeder cattle are down 68¢.

Crude oil is up $1.36.

S&P 500 futures are up 5 points. Dow futures are up 4 points.

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

Published: 9:11 a.m. CST