Corn regains some most lost ground before close | Monday, August 14, 2023

December corn was able to regain most of what it lost earlier today and closed down by only half of a penny.

November soybeans closed up 17¢.

CBOT wheat is down 13¢. KC wheat is down 8¢. Minneapolis wheat is down 10¢.

The USDA weekly Crop Progress report is expected at 3 p.m. CDT today. Al Kluis, managing director of Kluis Commodity Advisors, says he anticipates the report will show higher corn and soybean ratings as they are moving closer to what they were last year.

October livestock ended the day in the red. Live cattle are down 75¢. Lean hogs are down $2.28. Feeder cattle are down $1.15.

Crude oil is down 72¢.

S&P 500 futures are up 10 points. Dow futures are down 67 points.

Published: 2:01 p.m. CDT

Soybeans up 17¢ at midday: 11:28 a.m. CDT

December corn is currently down 3¢ while November soybeans are up 17¢.

CBOT wheat is down 20¢. KC wheat is down 18¢. Minneapolis wheat is down 11¢.

October livestock are in the red at midday. Live cattle are down 20¢. Lean hogs are down $2.40. Feeder cattle are down 83¢.

Crude oil is down 80¢.

The U.S. Dollar Index is up to 102.86.

S&P 500 futures are up 14 points. Dow futures are down 16 points.

Published: 11:28 a.m. CDT

Soybeans up 16¢ this morning: 9:07 a.m. CDT

December corn is currently down 5¢.

November soybeans are up 16¢.

CBOT wheat is down 17¢. KC wheat is down 15¢. Minneapolis wheat is down 5¢.

"Soybean futures have rallied in early trade on support from Friday's lower USDA forecast for 2023/2024 ending stocks and worries hotter weather forecast for next week could hurt yields," said The Brock Report this morning prior to the 8:30 a.m. CDT open.

"Corn futures have drifted lower under pressure from technically-driven selling, Midwest rains and wheat market weakness, with losses limited by soybean price strength. Wheat futures have extended losses with traders brushing off news that a Russian warship had fired warning shots at a cargo ship in the Black Sea."

This morning USDA announced the sale of 416,000 metric tons of soybeans to unknown destinations, to be delivered during the 2023/2024 marketing year.

October livestock are are mixed this morning. Live cattle are up 18¢. Lean hogs are down $1.83. Feeder cattle are down 10¢.

Crude oil is down 75¢.

S&P 500 futures are down 3 points. Dow futures are down 75 points.

Outside of the U.S., milling wheat is down on the European MATIF trade. Corn and No. 1 soybeans are down on the Chinese Dalian trade while No. 2 soybeans are up.

Published: 9:07 a.m. CDT