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Wheat sinks to lowest price since early 2022 | Thursday, August 18, 2022

Continuing with the midday trend, September corn finished the day up 4¢ and December corn finished the day up 3¢. September soybeans finished up 20¢ and November soybeans finished 15¢ up. 

CBOT wheat has sunk to its lowest price since last September and is down 32¢ from the last market close. KC wheat is 38¢ down and hasn't had a price lower since early in 2022. Minneapolis wheat is down 31¢ and also hasn't seen such a low price since the beginning of the year. 

Livestock all finished down this afternoon. 

Corn and soybean prices rebound at midday: 1:09 p.m. 

September corn futures are up 4¢ at midday while December corn is up 3¢. September soybean futures are up 19¢, and November soybeans are up 16¢. 

Wheat has fallen even further. CBOT wheat is down 27¢. KC wheat is down 34¢. Minneapolis wheat is down 25¢. 

Live cattle are down 95¢. Feeder cattle are down $1.78. Lean hogs are down $4.75. 

Crude oil is up $3.17. 

Grain prices down this morning: 8:47 a.m. 

Overnight corn and soybean prices slipped downward under pressure from a weather forecast of rain for most of the Corn Belt over the next several days. This morning September corn futures are down by 4¢, and December corn is down by 5¢. September soybeans are down 1¢, and November soybeans are down 5¢. 

Wheat futures continue to be down. CBOT wheat is down 25¢. KC wheat is down by 26¢. Minneapolis wheat is down by 22¢. 

Livestock are all down this morning. 

Outside the U.S., milling wheat on the European MATIF exchange is down. Corn and No. 1 soybeans are down on the Chinese Dalian trade. No. 2 soybeans are up. 

Kluis Commodity Advisors says news overnight concerning formal trade talks between U.S. and Taiwan and the subsequent strong, defensive response from China has grain traders nervous about what this could mean for U.S. exports. 

Crude oil is up $1.64.

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