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Grains close with little change | Thursday, September 22, 2022

Not far off from where they were at the midday point, corn closed up a penny and soybeans are down 6¢. 

CBOT wheat closed up 5¢ and KC wheat is up 10¢. Minneapolis wheat is up 13¢. 

Live cattle are down $1.03. Feeder cattle are down $1.25. Lean hogs are down 30¢. 

Crude oil is up 41¢ and the U.S. dollar is up 0.72 points. 

Prices mixed at midday: 11:25 a.m. 

At this hour, wheat is making a comeback from this morning.

CBOT wheat is up 5¢. KC hard red winter wheat is up 13¢. Commodity Weather Group says more than one-third of hard red winter wheat is facing long-term rain deficits. Minneapolis wheat is up 9¢. 

Soybean futures are down 4¢ while corn is relatively flat. 

Live cattle and feeder cattle are still down, but lean hogs are currently up 38¢. 

Crude oil is up 60¢. The U.S. Dollar Index is up 0.65 points. 

The S&P 500 is down 33 points and the Dow is down 131 points. 

Wheat prices cool off: 9:17 a.m. 

After surging earlier this week, wheat prices are starting the day off down from their highs and fairly flat from the overnight close. 

CBOT wheat is at $9.03. KC wheat is at $9.69. Minneapolis wheat is up a penny to $9.65. 

Corn is up 4¢ to $6.89. Soybeans are up 2¢ to $14.63. 

Livestock prices are all down this morning.

Earlier this week Russia announced plans to annex occupied Ukraine territories. Yesterday, the U.S. Federal Reserve announced another interest rate increase as part of their mission to stop rising inflation. Reuters reports both of these factors weigh on the market, with news out of Russia boosting prices and the Federal Reserve news lowering it. 

The S&P 500 is down 31 points and the Dow is down 187 points. 

The U.S. Dollar Index is up less than a point. Crude oil is up $1.32. 

Outside of the U.S., milling wheat on the MATIF trade is down. Corn and soybeans on the Chinese Dalian trade are up. 

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