Corn closes up 2¢ | Friday, February 3, 2023

Corn ended a choppy day of trade up 2¢. 

Soybeans closed down 2¢. 

CBOT wheat is down 4¢. KC wheat is down 9¢. Minneapolis wheat is down 3¢. 

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Livestock had a better day. Live cattle closed up 35¢. Lean hogs are up 58¢. Feeder cattle are up 5¢. 

Crude oil is down $2.57. 

The U.S. Dollar Index is at 102.74. The dollar being up is putting pressure on commodity prices, according to Cory Bratland with Kluis Commodity Advisors. 

S&P 500 futures are down 46 points. Dow futures are down 173 points. 

According to Commodity Weather Group, Argentina may see some rain in about 60% of the country late next week, but is forecasted to have dry weather otherwise.

Bratland says this could mean the Argentina crop will decline further, but he is not too bullish about it yet.

He also says Brazil's harvest is about 8% to 10% completed. This is behind schedule and delaying planting for the second corn crop, which Bratland says may support corn prices some. 

Grains turn red at midday: 11:07 a.m. CST

Corn is now down a penny while soybeans are down 4¢. 

CBOT wheat is down 7¢. KC wheat is down 9¢. Minneapolis wheat is down 11¢. 

Live cattle are down 3¢. Lean hogs are up 30¢. Feeder cattle are up 18¢.

Crude oil is down $1.12. 

The U.S. Dollar Index is at 102.52. 

S&P 500 futures are down 13 points. Dow futures are up 43 points.  

Corn starts day up a penny: 9:01 a.m. CST

March corn futures are up a penny while soybeans are down a penny. 

CBOT wheat is down 4¢. KC wheat is down 5¢. Minneapolis wheat is down 7¢. 

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Fresh exports of 132,000 metric tons of soybeans to unknown destinations for 2023/2024 were announced this morning. 

Bob Linneman with Kluis Commodity Advisors notes that exports were slow this week against expectations that China would be back in the game after last week's holiday. 

He says some money managers may exit current positions on the feeling that the bullish momentum is fading. 

Live cattle are down 13¢. Lean hogs are down 35¢. Feeder cattle are down 10¢. 

Crude oil is currently up 71¢. 

S&P 500 futures are down 32 points. Dow futures are down 81 points. 

On the European MATIF trade, milling wheat is flat. On the Chinese Dalian trade, corn and No. 1 soybeans are up.