Grains finish day off their highs | Wednesday, October 5, 2022
Corn finished the day up only a penny while soybeans ended down 12¢.
CBOT wheat gave back its gains from this morning and closed up just a penny. KC wheat is up 3¢. Minneapolis is up 5¢.
Live cattle are up 43¢. Feeder cattle are up $2.13. Lean hogs are are up $2.08.
Crude oil is up $1.22. The U.S. Dollar Index is at 111.1.
The S&P 500 is down 13 points. The Dow is down 41 points.
Corn attempts climb: 11:47 a.m.
At this hour corn is up 3¢ to $6.86. Soybeans are down 7¢.
CBOT wheat is up 11¢. KC wheat is up 15¢. Minneapolis is up 14¢.
Cory Bratland with Kluis Commodity Advisors says prices are under pressure from harvest, but wheat prices are being support by concerns of the conflict in Ukraine.
Cattle are all up.
Crude oil is up $1.04. The S&P 500 is down 34 points. The Dow is down 190 points.
Corn and soy start day down: 9:15 a.m.
This morning corn prices are down 3¢ to $6.80. Soybean prices are down 13¢ to $13.67.
CBOT wheat is up 6¢. KC wheat is up 6¢. Minneapolis wheat is up 7¢.
Naomi Blohm with Total Farm Marketing says the Mississippi river is low and impacting prices. She says "spot basis bids for corn, soybeans, and wheat shipped by barge to U.S. Gulf Coast export terminals were mostly higher on Tuesday as low water on southern areas of the Mississippi River severely disrupted shipping traffic."
Live cattle are down 25¢. Feeder cattle are flat. Lean hogs are up 45¢.
Crude oil is up 50¢ and has jumped by more than $10 since last Monday. Blohm says OPEC has proposed a two million barrels per day cut to output, a million more than the trade expected.
The S&P 500 is down 34 points this morning. The Dow is down 193 points. The U.S. Dollar Index is now at 111.3.
Many parts of the Midwest will see some rain over the next couple of days. Commodity Weather Group says the rain to come over the next week will be good for emerging wheat.