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Corn and soybeans up week over week | Friday, October 14, 2022

Corn and soybeans finished the day down, but up compared to where they closed last week. 

Corn futures are down 7¢ to $6.91. Soybeans are down 12¢ to $13.83. 

CBOT wheat is down 31¢. KC wheat is down 29¢. Minneapolis wheat is down 25¢. 

Live cattle are down 15¢. Feeder cattle are down $1.33. Lean hogs are up $1.65. 

The next USDA Crop Progress report comes out on Monday. Al Kluis with Kluis Commodity Advisors says he expects the report to show soybean harvest 52% to 55% complete, and corn harvest 45% complete. 

Currently the S&P 500 is down 84 points and the Dow is down 438 points. 

Prices down at midday: 11:30 a.m.

At this hour, corn futures are down 5¢. Soybeans are down 7¢. 

CBOT wheat is down 19¢. KC wheat is down 16¢. Minneapolis wheat is down 15¢. 

Live cattle are down 33¢. Feeder cattle are down $1.48. Lean hogs are up 38¢. 

Crude oil is down $3.12. Kluis suspects it may be under pressure amidst concerns of a global recession. 

The S&P 500 is down 69 points. The Dow is down 318 points. 

Grains mixed this morning: 9:49 a.m.

This morning corn is down 3¢ while soybeans are up 2¢. 

CBOT wheat is down 8¢. KC wheat is down 5¢. Minneapolis wheat is down 5¢. 

Live cattle are down 63¢. Feeder cattle are down $1.50. Lean hogs are up 18¢. 

Naomi Blohm with Total Farm Marketing says yesterday's Consumer Price Index report showed a 0.4 % increase in inflation. She says this was more than the trade expected and initially drove prices down before they recovered at the end of the day. She says this surprise may lead the Federal Reserve to once again raise interest rates another 0.75% instead of 0.50% as traders had hoped. 

At this hour, the U.S. Dollar Index is up to 112.9. The S&P 500 is down 37 points. The Dow is down 135 points. 

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