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Soybeans sink to 2-month low | Friday, September 30, 2022

Soybeans ended the day down 45¢ to $13.66 following the news out of USDA that soybean stocks are higher than expected. 

Corn has dropped since the initial boost the USDA report provided. Corn futures finished the day up 8¢. 

Wheat is still strong. CBOT wheat closed up 27¢. KC wheat is up 25¢. Minneapolis wheat is up 16¢.

Live cattle are down 85¢. Feeder cattle are down $3.15. Lean hogs are down 23¢. 

The U.S. Dollar Index is currently down 0.07 points to 112.1. The S&P 500 is down 21 points. The Dow is down 256 points. 

USDA report sends corn skyrocketing while soybeans plummet: 11: 24 a.m 

Corn is up 17¢ to $6.87. Soybeans are down 15¢ to $13.95. 

The USDA grain stocks report found corn stocks were even tighter than the trade expected at 1.377 billion bushels. Kluis Commodity Advisors had expected 1.52 billion bushels. Immediately after the report's release corn prices jumped as high as $6.94. 

For soybeans, the report came in higher than expected with 0.274 billion bushels. 

Wheat was as expected at 1.776 billion bushels. 

CBOT wheat prices are currently up 26¢. KC wheat is up 22¢. Minneapolis wheat is up 18¢. 

At this hour, live cattle and feeder cattle are down while lean hogs are up. The U.S. dollar is up 0.13 points. The S&P 500 is down 5 points. The Dow is down 141 points. 

Corn and wheat start day up: 8:55 a.m.

Corn is up 2¢ to start the day, while soybeans are down 2¢. 

CBOT wheat is up 4¢. KC wheat is up 4¢. Minneapolis wheat is up less than a penny. 

The USDA quarterly grain stocks report is slated to come out today at 11 a.m. CT. Bob Linneman with Kluis Commodity Advisors says this report usually makes for a wild trading day. Highlights from the report will be in today's midday market update. 

This morning feeder cattle are down 88¢. Live cattle are down 15¢. Lean hogs are up 15¢. 

The U.S. Dollar Index is up 0.35 points, but still lower than it was earlier this week. It is currently at 112.5. 

The S&P 500 is down 27 points. The Dow is down 223 points. 

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

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