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Corn and soybeans close up | Monday, September 12, 2022

Corn finished the day up 9¢. Soybeans are up 73¢. 

Wheat prices are all still down to end the day. CBOT wheat is down 11¢. KC is down a penny. Minneapolis is down a penny. 

Live cattle are up 8¢. Feeder cattle are down $2.45. Lean hogs are down $1.30. 

Crude oil is currently up $1.01. The U.S. dollar is down 65¢.

The S&P 500 is up 38 points. The Dow is up 204 points.

Soybean prices soar: 12:22 p.m.

At this hour, corn is up 14¢ while soybeans are up 76¢. 

Wheat prices are all down. CBOT wheat is down 8¢. KC wheat is down 1¢. Minneapolis wheat is down 1¢. 

Livestock prices are mixed. Lean hogs are down $1. Feeder cattle are down $2.45. Live cattle are up 18¢. 

This morning USDA released its September World Agricultural Supply and Demand Estimates (WASDE) report. USDA is projecting a decrease in corn and soybean harvest and supply. 

Jake Hanley of Teucrium Funds says today’s report was supportive for both U.S. corn and soybean prices.

Grain prices under pressure: 8:45 a.m. 

This morning con is down 3¢. Soybeans are up 6¢. 

CBOT wheat is down 3¢. KC wheat is down 1¢. Minneapolis wheat is down 5¢. 

Lean hogs are down 23¢. Feeder cattle are down 13¢. Live cattle are down 8¢.

Naomi Blohm with Total Farm Marketing says overnight prices were under pressure from concerns of higher interest rates, inflation, and economic recession. She says all of these could slow global food demand, particularly in China. 

The USDA's September WASDE report comes out later this morning. Blohm says trade is expecting lower numbers for the corn crop and lower carryout for 2023. Soybeans crop may be unchanged but demand may be slightly lower as South America competes with the U.S. for export markets. 

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