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Grains end the week down | October 28, 2022

Corn ended the week still down 3¢. Soybeans are still down 10¢. 

Wheat also hasn't budged much. CBOT wheat is still down 10¢. KC wheat is down 12¢. Minneapolis wheat is down 8¢. 

Live cattle are down 43¢. Feeder cattle are down 25¢. Lean hogs are up 98¢. 

The U.S. dollar is up 0.27 points. 

The S&P 500 is up 79 points. The Dow is up 755 points. 

Monday the next USDA Crop Progress report will give a harvest progress update. Al Kluis with Kluis Commodity Advisors says as harvest wraps up, attention is shifting to South America. 

Grains' bearish day continues: 11:16 a.m. 

Corn is still down 3¢ at midday. Soybeans are still down 10¢. 

CBOT wheat is down 10¢. KC wheat is down 12¢. Minneapolis wheat is down 4¢. 

READ MORE: 3 Big Things Today, October 28, 2022

Live cattle are down 38¢. Feeder cattle are up 30¢. Lean hogs are up 33¢. 

The stock market continues to climb. The S&P 500 is up 59 points. The Dow is up 599 points. 

Grains in the red at market open: 9:04 a.m. 

Corn is down 3¢ to $6.79. Soybeans are down 10¢ to $13.83. 

CBOT wheat is down 12¢. KC wheat is down 14¢. Minneapolis wheat is down 5¢. 

Kluis says improving basis levels in the Corn Belt are giving hope prices could remain strong through winter. However, he says "sluggish" exports would be a bearish factor. 

This morning the U.S. Dollar Index is 110.5. Kluis says if the index continues to go down, exports out of the U.S. will be more competitive. 

Kluis also says traders are watching South American weather. Dry conditions have weakened wheat and corn production in Argentina. The good news is La Nina may end sooner than originally predicted and weather conditions should improve. 

Live cattle are down 13¢ this morning. Feeder cattle are down 25¢. Lean hogs are up 80¢. 

Crude oil is down 79¢ this morning. 

Reuters reports the U.S. and other western countries are finalizing plans for a Russian oil price cap, set to launch on December 5. The World Bank has said the cap is an "untested mechanism" but would need participation from emerging markets and developing countries to work, Reuters reports. 

The S&P 500 is up 26 points. The Dow is up 379 points. 

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