Soybeans mount a comeback | Wednesday, September 28, 2022
After hitting a two-week low, soybeans rallied and settled up 3¢ at $14.11.
Corn settled the day up 3¢.
CBOT wheat ended a strong day up 32¢. KC wheat is up 32¢ as well. Minneapolis wheat is up 29¢.
Livestock are mixed. Lean hogs are up 68¢. Live cattle are down 53¢. Feeder cattle are down $1.13.
The U.S. dollar has dropped significantly. It is currently down 1.54 points.
Soybeans at two-week low: 10:30 a.m.
Soybeans are currently below $14 for the first time in over two weeks.
Corn is relatively flat at $6.68.
Wheat continues upward. CBOT wheat is up 23¢ to $8.95. KC wheat is up 25¢ to $9.68. Minneapolis wheat is up 19¢ to $9.62.
Live cattle are down 58¢. Feeder cattle are down $1.30. Lean hogs are unchanged.
The U.S. Dollar Index is down 0.84 points.
Grain prices start day mixed: 9:14 a.m.
Corn is starting the day up 2¢ to $6.69. Soybeans are down 5¢ to $14.03.
Wheat is solidly up. CBOT wheat is up 18¢ to $8.89. KC wheat is up 19¢ to $9.62. Minneapolis wheat is up 15¢ to $9.58.
Reuters reports wheat prices are up due to concerns about the Russian-Ukraine war while, corn and soybeans are hurt by concerns over a weakening U.S. economy.
October live cattle are down 30¢. Feeder cattle are down 33¢. Lean hogs are up 95¢.
The U.S. Dollar Index is down 0.12 points to 113.9. Concern remains over the strength of the dollar and its impact on global trade. Al Kluis with Kluis Commodity Advisors says in the overnight trade the dollar reached its highest value since 2002 at more than 114.5.
Outside the U.S., milling wheat on the European MATIF trade is up. On the Chinese Dalian exchange, corn is down and soybeans are up.