Grains close mixed | Tuesday, September 13, 2022
December corn closed down 5¢ and November soybeans are down 11¢.
Wheat closed up. CBOT is up a penny. KC wheat is up 5¢. Minneapolis wheat is up 5¢.
Live cattle finished the day down 95¢. Feeder cattle are down $2.60. Lean hogs are up $3.88.
Crude oil currently sits down 19¢. The U.S. dollar is currently up $1.40.
Soybeans on slight dip: 11:38 a.m.
At this hour soybeans are down 7¢ to $14.80. Corn is also down by 3¢ to $6.92.
Wheat is still up. CBOT is up 10¢. KC is up 12¢. Minneapolis is up 8¢.
Live cattle are currently down 80¢. Feeder cattle are down $2.40. Lean hogs are up $1.83.
After a couple of weeks without it, USDA is supposed to release a new exports report this Thursday. Al Kluis with Kluis Commodity Advisors says he expects a report will show China has been an active buyer the past three weeks.
He also says he expects the U.S. dollar to continue to decline this week as the trade is building in slower inflation expectations and less interest rate hikes in the future. The U.S. dollar is currently up $1.23, but yesterday it hit its lowest point since August.
Grain prices mixed this morning: 9:08 a.m.
December corn futures are down 4¢ this morning. November soybeans are up slightly.
CBOT wheat is up 8¢. KC wheat is up 7¢. Minneapolis wheat is up 3¢.
Both the WASDE and Crop Progress reports that came out of USDA yesterday were bullish for corn and soybean prices. Soybeans shot up and corn also got a decent boost. So far, both have been able to hold on to most of that boost. Corn is currently at $6.93, and soybeans are at $14.91.
Live cattle are down 23¢. Feeder cattle are down 50¢. Lean hogs are up 53¢.
Crude oil is currently up 40¢. The U.S. dollar is up 79¢.
The S&P 500 is down 89 points. The Dow is down 568 points.