Corn and soybeans down after volatile day | Wednesday, August 31, 2022
September and December corn both closed down 6¢. September soybeans are down 2¢, and November soybeans are down 10¢.
Wheat ended the day on a high note. CBOT wheat is up 10¢. KC wheat is up 12¢. Minneapolis wheat is up 11¢.
Lives cattle closed the day down $1.25. Feeder cattle are up 28¢. Lean hogs are down $2.08.
Market mixed at midday: 11:33 a.m.
At this hour, September and December corn are both down 6¢. September soybeans are up 6¢ and November soybeans are up 3¢.
Wheat has rebounded since this morning. CBOT wheat is up 8¢. KC wheat is up 12¢. Minneapolis wheat is up 8¢.
Livestock remain mixed. Live cattle are down $1.10. Feeder cattle are up 28¢. Lean hogs are down $1.63.
International news drives markets lower: 9:13 a.m.
This morning September corn futures are down 11¢, and December corn futures are down 12¢. September soybeans are up 3¢, but November soybeans are down 7¢.
CBOT wheat is down 7¢. KC wheat is down 3¢. Minneapolis wheat is down 8¢.
Livestock are mixed this morning. Live cattle are down 33¢. Feeder cattle are up 40¢. Lean hogs are down 90¢.
Naomi Blohm with Total Farm Marketing says the market turned lower this morning following the European Union announcement of higher than expected August Inflation. She says this increases the chance the European Central Bank will issue a 75 basis-point interest rate increase in early September.
Crude oil is down $1.54. The U.S. dollar is up 20¢. The S&P 500 is up 16 points, and the Dow is up 61 points.
Milling wheat on the MATIF trade is up. Corn and No. 1 soybeans are up on the Dalian trade. No. 2 soybeans are down.