Soybeans close up 7¢ | Monday, August 21, 2023

December corn ended the day down 10¾¢.

November soybeans reached a low for the day ahead of the noon hour and then regained some losses before the close and ended the day up 7¼¢.

CBOT wheat is down 13½¢. KC wheat is down 15¢. Minneapolis wheat is down 20½¢.

The Pro Farmer crop tour began today and analysts will be paying attention to it as it continues through this Thursday. The tour consists of two routes. Scouts on the eastern tour will visit farms in Indiana, Illinois, Iowa, and Minnesota. The western tour will visit farms in Nebraska, Iowa, and Minnesota.

"The tour results have improved, but the history is that they usually under-estimate the final yields," says Al Kluis, managing director for Kluis Commodity Advisors. "The tour results may have been a lot different if they were taken one week later."

October live cattle are up $1.40. Lean hogs are down $1.58. Feeder cattle are up $2.10.

Crude oil is down 63¢.

S&P 500 futures are up 29 points. Dow futures are down 14 points.

Published: 2:22 p.m. CDT

Soybeans up 4¢ at midday: 12:01 p.m. CDT

December corn is currently down 8¢ while November soybeans are up 3½¢.

CBOT wheat is down 12½¢. KC wheat is down 16½¢. Minneapolis wheat is down 15¼¢.

October livestock are still mixed. Live cattle are up $1.05. Lean hogs are down $1.40. Feeder cattle are up $1.93.

Crude oil is down 21¢.

The U.S. Dollar Index September contract is down to 103.20.

S&P 500 futures are up 8 points. Dow futures are down 125 points.

Published: 12:01 p.m. CDT

Soybeans up 18¢: 9:36 a.m. CDT

December corn is currently down a penny.

November soybeans are up 17½¢.

CBOT wheat is down 12¼¢. KC wheat is down 16¼¢. Minneapolis wheat is down 12½¢.

Bryant Sanderson, commodity broker with CHS Hedging, says the "heat dome" settling over the Midwest this week sent soybeans and corn prices up overnight. Near the overnight open December corn jumped up to $5.06 a bushel and then declined. Sanderson says the heat will primarily stress Iowa and Illinois over the next 10 days.

USDA announced new export sales this morning. A total of 111,770 metric tons of corn are to be delivered Mexico during the 2023/2024 marketing year and 159,350 metric tons of soybeans were sold to unknown destinations for the 2023/2024 marketing year.

This afternoon the USDA Crop Progress report will be released. Kluis says to expect corn and soybean condition ratings to be higher today but then to decline in the coming weeks as the hot weather takes a toll on yields.

October livestock are mixed this morning. Live cattle are up $1.33. Lean hogs are down 85¢. Feeder cattle are up $2.15.

Crude oil is up 4¢.

S&P 500 futures are up 8 points. Dow futures are down 128 points.

Published: 9:36 a.m. CDT