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Markets close mixed | Friday August 5, 2022

September corn futures closed up 7¢. September soybeans closed up a penny and November soybeans closed down 11¢.

CBOT wheat closed down 6¢. KC wheat is down 11¢. Minneapolis wheat is down 7¢.

Livestock markets closed up. 

The Dow continues to gain ground, only down 32 points. Crude oil is up 42¢. The U.S. dollar is up 85¢. 

Next Friday the new USDA WASDE report comes out and experts are saying it may included updated yield and acres planted numbers. 

Corn up while soybeans and wheat trend down: 11 a.m. 

At this hour September corn futures are up 7¢ and September soybeans are down 5¢. CBOT wheat is down 5¢, KC wheat is down 9¢, and Minneapolis wheat is down 4¢. 

Live cattle are up 78¢. Feeder cattle are up $1.85. Lean hogs are are up 50¢. 

The U.S. Department of Labor released the July jobs report this morning. The economy saw an addition of 528,000 new jobs and unemployment went down to 3.5%. This report sets U.S. employment at an all-time high and unemployment is back to its pre-pandemic level, far exceeding the market's expectation. Reuters reports this is strong evidence the economy was not in a recession. The Dow has regained some of its loss from this morning and is down 129 points. 

Grains open down: 8:55 a.m. 

This morning corn futures are down a penny and soybean futures are down 4¢. CBOT wheat is down 6¢ while KC and Minneapolis are both down 5¢. 

Live cattle are down 30¢. Feeder cattle are down 33¢. Lean hogs are up $1.75. 

Outside the U.S., milling wheat on the MATIF trade in Europe is down $1.75 and corn and soybeans on the Dalian trade in China are down. 

Crude oil is down $1.35. The Dow is down more than 200 points. 

CBS News reports three more ships filled with corn left Ukraine today headed for Ireland, the UK, and Turkey. Experts say Ukraine's ability to get exports out will continue to be a wild card impacting the market. 

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