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Corn and soybeans settle slightly off midday highs | Tuesday August 23, 2022

September corn settled up 27¢ at $6.60. September soybeans settled up 43¢ at $15.70. 

Wheat also took a bit of dip but is still up overall. CBOT wheat is up 12¢. KC wheat is up 18¢. Minneapolis wheat is up 11¢. 

Live cattle end the day up 10¢. Feeder cattle are down $1.90. Lean hogs are down $1.08. 

Corn and soybeans return to June highs: 12:05 p.m. 

At this hour September corn is up 30¢ to $6.64. The last time corn was at this price was late June. 

September soybeans are up 53¢ to $15.80. The last time soybeans hit this price was early June.

CBOT wheat is up 25¢. KC wheat is up 29¢. Minneapolis wheat is up 16¢. 

Live cattle have rebounded from this morning and are up 20¢. Lean hogs are now down 25¢. Feeder cattle are still down at negative $2.08.

Grain markets open on a high note: 8:48 a.m. 

September corn is up 19¢ to $6.52 and September soybeans are up 20¢ to $15.47. 

All three wheat markets are up this morning. CBOT wheat is up 10¢. KC wheat is up 12¢. Minneapolis wheat is up 11¢. 

Lean hogs are up this morning by $1.53. Live cattle and feeder cattle are both down. 

A well known Midwest crop tour started yesterday. According to Bob Linneman at Kluis Commodities Advisors, the daily news from this tour will move the market and traders will compare data from this year to prior years and look for correlations to the final USDA yield. 

Linneman also says China has agreed to permit the export of Brazilian old crop corn as the country is experiencing an extreme drought and is securing supply of bushels where they can.  

Outside the U.S., milling wheat on the MATIF trade and corn and soybeans on the Dalian trade are all up. 

Crude oil is up $2.08 this morning. The Dow is down 41 points and S&P 500 is down 6 points. 

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