Grains close mixed | Wednesday, October 12, 2022
Corn ended the day flat at $6.93. Soybeans are up 19¢.
CBOT wheat is down 17¢. KC wheat is down 18¢. Minneapolis wheat is down 18¢.
Live cattle are down 13¢. Feeder cattle are up 48¢. Lean hogs are up $1.18.
Crude oil is down $2.08. The U.S. Dollar Index is up 0.07 points.
The S&P 500 is up a point. The Dow is up 89 points.
Soybeans surge at midday: 12:26 p.m.
At this hour, soybeans are up 24¢ to $14. Corn is also up slightly to $6.93.
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CBOT wheat is down 12¢. KC wheat is down 15¢. Minneapolis wheat is down 16¢.
Live cattle are down 55¢. Feeder cattle are down 23¢. Lean hogs are up 83¢.
The USDA World Agricultural Supply and Demand Estimates (WASDE) report came out this morning. Cory Bratland with Kluis Commodity Advisors says the yield decrease for soybeans was a surprise and makes for very tight supply. He says the market must stay high to curb demand.
Grains open mixed: 9:21 a.m.
Corn prices are down 4¢ this morning.
Soybean futures are up 3¢.
CBOT wheat is down 12¢. KC wheat is down 9¢. Minneapolis wheat is down 9¢.
Live cattle are up 35¢. Feeder cattle are up 70¢. Lean hogs are up 50¢.
The WASDE report comes out later this morning. Al Kluis with Kluis Commodity Advisors says today's report my clarify how the September quarterly grain stocks data will impact the U.S. balance sheet.
The S&P 500 and the Dow are up this morning. Outside of the U.S., wheat on the MATIF trade is down. Corn and No.2 soybeans are up on the Chinese Dalian trade while No. 1 soybeans are down.