Grains end the day up | Tuesday, September 20, 2022
Corn ended the day up 13¢ and soybeans are up 15¢.
CBOT wheat is up 59¢. KC wheat is up 51¢. Minneapolis wheat is up 41¢.
- READ MORE: Claas announces new round and square balers
Live cattle end the day up 58¢. Feeder cattle are down $2.28. Lean hogs are down 50¢.
- READ MORE: 3 Big Things Today, September 20, 2022
The S&P 500 is down 66 points. The Dow is down 515 points.
Crude oil is down $1.28. The U.S. Dollar Index is up 0.54 points.
Grains rally following news out of Russia: 11:57 a.m.
At this hour, corn is up 12¢ to $6.90. Soybeans are up 20¢ to $14.81.
CBOT wheat has rallied up 49¢ to $8.80. KC wheat is up 42¢ to $9.51. Minneapolis wheat is up 32¢ to $9.50.
Naomi Blohm with Total Farm Marketing says prices are skyrocketing following news that Russia is moving forward with a plan to annex several occupied parts of Ukraine.
She says it would take over-the-top bullish news from the Federal Reserve tomorrow to push corn above $7 and soybeans above $15.
Live cattle are up 40¢. Lean hogs are down 8¢. Feeder cattle are down $1.63.
Grain prices start day mixed: 9:20 a.m.
Corn futures are up 10¢ this morning while soybeans are down 2¢.
Blohm says news of a small Chinese crop is supporting U.S. corn prices.
Wheat prices were hit hard yesterday on the heels of news of a large Russian wheat crop, according to Al Kluis with Kluis Commodity Advisors. Prices are rebounding today.
CBOT wheat is up 23¢. KC wheat is up 21¢. Minneapolis wheat is up 18¢.
October live cattle futures are up 60¢. Feeder cattle are down 90¢. Lean hogs are down 30¢.
Crude oil is down $1.63. The U.S. dollar index is up 0.35 points.
The S&P 500 is down 46 points. The Dow is down 378 points.
Blohm says the stock market will likely be volatile until the Federal Reserve interest rate announcement on Wednesday. A 75 basis points rate increase is expected.
Outside the U.S., milling wheat is up on the MATIF trade. Corn and soybeans are up on the Dalian trade.