Content ID
Corn closes up 4¢ | Wednesday, March 15, 2023
Corn ended the day up 4¢ and soybeans are down 5¢.
CBOT wheat is up 5¢. KC wheat is up 3⁄4 of a penny. Minneapolis wheat is up 2¢.
Live cattle are down $1.30. Lean hogs are down $3.58. Feeder cattle are down $2.30.
Cory Bratland, chief grain strategist with Kluis Commodity Advisors, says concerns over the financial system and economy were impacting the market today.
Crude oil is currently down $3.03.
The U.S. Dollar Index is at 104.34. Bratland says the higher dollar is pressuring commodities.
S&P 500 futures are down 32 points. Dow futures are down 350 points.
Corn up 5¢ at midday: 11:19 a.m. CST
Corn is currently up 5¢ while soybeans are down 7¢.
CBOT and KC wheat are still up 4¢. Minneapolis wheat is up 5¢.
Live cattle are down $1.20. Lean hogs are down $2.10. Feeder cattle are down $2.18.
Crude oil is down over $4 to $66.88 a barrel.
The U.S. Dollar Index is at 104.56.
S&P 500 futures are down 71 points. Dow futures are down 664 points.
Corn opens up 3¢: 9:05 a.m. CST
At the market open corn is up 3¢ while soybeans are down 9¢.
CBOT and KC wheat are up 4¢. Minneapolis wheat is up 3¢.
Al Kluis, managing director of Kluis Commodity Advisors, says yesterday's May corn close above $6.20 signals a major seasonal low. He says the next test is closing above $6.45.
This morning USDA announced new exports of 667,000 metric tons of corn to China during the 2022/2023 marketing year.
The Black Sea Grain Initiative is set to expire at the end of this week. Nick Tsiolis, founder of Farmer's Keeper, says he is watching to see if it is renewed for 60 days like Russia wants or 120 days.
He says there is incentive on both sides to strike a deal before the deadline.
Live cattle and lean hogs are down 25¢. Feeder cattle are down 30¢.
Crude oil is currently down $2.91.
S&P 500 futures are down 56 points. Dow futures are down 492 points.
Milling wheat is up on the European MATIF trade. On the Chinese Dalian trade corn and soybeans are down.
In South America, according to Commodity Weather Group, at least half of Argentina is favored to maintain late drought stress. Brazil is expected to get a gradual downturn in showers, especially next week, that will aid fieldwork in central Brazil.
