Corn and soybeans end day flat | Thursday, September 29, 2022
Corn closed the day down a penny and soybeans closed up a penny, putting a relatively flat end on a choppy day in which both crops had been up and down at different points.
CBOT wheat closed down 8¢. KC wheat closed down 10¢. Minneapolis is down 6¢.
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Livestock are all up.
The U.S. Dollar Index is down 0.31 points to 112.2.
The S&P 500 is down 92 points while the Dow is down 578 points.
Tomorrow the USDA grain stocks and small grains reports come out. Al Kluis with Kluis Commodity Advisors says the report may explain how low stocks are and where they are held.
Stock market driving prices down: 11:01 a.m.
Corn is down a penny and soybeans are only up 4¢.
CBOT wheat is down 3¢. KC wheat is down 7¢. Minneapolis wheat is down 3¢.
Kluis says the drop in the stock market is bringing commodity prices down with it.
The S&P 500 is down 79 points. The Dow is down 471 points.
Live cattle are up 53¢. Feeder cattle are up 98¢. Lean hogs are up 88¢.
Grain prices mixed at market open: 9:03 a.m.
This morning corn is up 2¢ and soybeans are up 12¢.
CBOT wheat and KC wheat are both down 4¢. Minneapolis is down 6¢.
This morning USDA released the weekly export sales report. Net corn sales were at 512,000 metric tons, within the range Kluis says the trade was expecting. However, net soybean sales were at 1,003,000 metric tons, about 150,000 more in sales than the trade expected.
Livestock are mixed this morning as well. Lean hogs are up 98¢. Feeder cattle are down 23¢. Live cattle are up 15¢.
The dollar is up 0.19 points this morning, but is down from its high earlier this week. The U.S. Dollar Index currently sits at 112.7.
The S&P 500 is down 74 points this morning and the Dow is down 482 points.
Outside the U.S., milling wheat on the MATIF trade is down. On the Dalian trade, corn and No. 1 soybeans are down while No. 2 soybeans are up.