Markets Soybeans close at highest price in 7 weeks | Friday, November 3, 2023 Corn and wheat also end the day in the green. By Cassidy Walter Cassidy Walter Cassidy Walter joined Successful Farming in 2022 to cover commodity markets and agribusiness. Previously, she spent more than five years as the Communications Director for the Iowa Renewable Fuels Association, where her work supported Iowa biofuels producers and farmers. Successful Farming's Editorial Guidelines Updated on November 3, 2023 Close Photo: Hao Zhang December corn closed up 8¢ at $4.78 a bushel. Week-over-week December corn is down less than 3¢. January soybeans closed up 25¾¢ at $13.54 a bushel, the highest price this contract has closed at since Sept. 15. CBOT wheat is up 7½¢. KC wheat is up 2¼¢. Minneapolis wheat is up 10¼¢. At midday Naomi Blohm, senior market advisor for Total Farm Marketing, said grains were up on weather concerns in South America and a lower U.S. dollar. The U.S. Dollar Index December contract is currently at 104.91. Live cattle are down 95¢. Lean hogs are down $1.43. Feeder cattle are down $2.43. Crude oil is down $1.22. S&P 500 futures are up 45 points. Dow futures are up 236 points. Published: 2:47 p.m. CDT Grains in the green at midday: 11:37 a.m. CDT December corn is up 8¢ at midday. January soybeans are up 20¾¢. CBOT wheat is up 7¾¢. KC wheat is up 1½¢. Minneapolis wheat is up 5½¢. Live cattle are down 25¢. Lean hogs are down $1.43. Feeder cattle are down $1.50. Crude oil is down 95¢. The U.S. Dollar Index December contract is down to 104.88. S&P 500 futures are up 48 points. Dow futures are up 249 points. Published: 11:37 a.m. CDT Soybeans up nearly 20¢: 9:26 a.m. CDT December corn is currently up 3¾¢. "It's been over two years since the December '23 corn contract closed at $4.70 as we saw yesterday, and the buy back over night was minimal," says Jeremy McCann, account manager with Farmer's Keeper. "It's apparent the funds do not want anything to do with this contract over the past two weeks, and producers all across the nation are cutting their losses and cash selling their bushels straight off of the combine. The carry in the market is still favorable but with interest rates being as high as they are it's almost a wash for the producer to hold onto their bushels. Those who are holding are waiting for a rally as we historically see with old crop, but as the past few years have shown us, nothing is guaranteed." January soybeans are up 19½¢ "Soybeans are stronger through January '25 and continue to find technical buying strength on detrimental weather in Brazil," said Nick Paumen, commodity broker with CHS Hedging, during the early morning trade. "Soybean oil may have found a low yesterday and meal appears to have found a range near recent highs." This morning USDA announced unknown destinations are buying 131,150 metric tons of soybeans for the 2023/2024 marketing year. CBOT wheat is up 2¼¢. KC wheat and Minneapolis wheat are up less than a penny. Live cattle are down 18¢. Lean hogs are down 10¢. Feeder cattle are down $1.28. Crude oil is down 34¢. S&P 500 futures are up 35 points. Dow futures are up 163 points. Published: 9:26 a.m. CDT Was this page helpful? Thanks for your feedback! Tell us why! Other Submit