Prices close up | Thursday, August 10, 2022
At the close, corn is up 8¢ and soybeans are up 12¢. CBOT wheat is up 12¢. KC wheat is up 16¢. Minneapolis wheat is up 15¢.
Livestock finished the day mixed. Live cattle are up 63¢. Feeder cattle are down 40¢. Lean hogs are up 23¢.
Tomorrow USDA releases its latest World Agricultural Supply and Demand Estimates (WASDE) report at 11 a.m. Central. The trade is watching for adjustments to yields as well as adjustments to planted acres resulting from late planting in certain states.
Prices backslide at midday: 11:15 a.m.
Corn and soybean futures have surrendered their early-morning highs and have backslid while still remaining in the green. Corn is up 5¢ and soybeans are up 18¢.
CBOT wheat is up 11¢. KC wheat is up 9¢. Minneapolis wheat is up 9¢.
Livestock have also taken a bit of a stumble since the morning. Live cattle are up 28¢. Feeder cattle are down 50¢. Lean hogs are up 35¢.
Crude oil is currently trading up $2.03. The Dow is up 190 points.
Grain prices up at open: 9:18 a.m.
At the close of the overnight trade, grain prices were up. This morning they continue to climb.
September corn futures are up 5¢. September soybean futures are up 23¢. CBOT wheat is up 6¢. KC wheat is up 8¢. Minneapolis wheat is up 8¢.
Livestock futures are up as well. Live cattle are up 55¢. Feeder cattle are up 60¢. Lean hogs are up 40¢.
This morning USDA released the latest U.S. Export Sales report, showing a new sale of 103,400 tons of soybean meal to Mexico for 2022/2023. Soybean exports of 894,500 MT were up 70% from the previous week and 92% from the prior 4-week average. The leading destination was China (247,500 MT). Corn exports of 705,400 MT were down 31% from the previous week and 28% from the prior 4-week average. The leading destination was Mexico (225,300 MT).
The weather forecast remains hot and dry, with the western part of the Corn Belt being hit the hardest.