Corn and soy in the green. Wednesday, May 24, 2023
Corn is currently up 3¢.
Soybeans got beat up yesterday but are up 5¢ this morning.
CBOT wheat is down 8¢. KC wheat is down 14¢. Minneapolis wheat is down 8¢.
Ami Heesch, commodities broker with CHS Hedging, says China is currently harvesting wheat and a bumper crop is expected. She says the strong wheat harvest is reducing China’s need for U.S. and Brazil corn.
Live cattle are down 63¢. Lean hogs are down 13¢. Feeder cattle are down $1.18.
Crude oil is up $1.44.
S&P 500 futures are down 33 points. Dow futures are down 226 points.
Outside of the U.S., milling wheat is down on the European MATIF trade. Corn is up on the Chinese Dalian trade along with No. 2 soybeans. No. 1 soybeans are down.
Read also
Palm oil prices are expected to continue rising after a short-term correction
Georgia reduced wheat imports in April
Brazilian soyabean oil exports jump 47% amid record crop and weak domestic demand
Zimbabwe plans new grain import levies to strengthen food security
Global vegetable oil production to hit record high again – USDA
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon