Corn and soy in the red again this morning. Thursday, January 5, 2023
This morning, corn is down 2¢ while soybeans are down 7¢.
CBOT wheat is up 4¢. KC wheat is up 2¢. Minneapolis wheat is up 3¢.
Al Kluis with Kluis Commodity Advisors says March and May corn will find support between $6.44 and $6.40 ahead of the USDA World Agricultural Supply and Demand Estimates (WASDE) report next week.
Kluis also says he is paying attention to crude oil right now, which has fallen nearly $7 since Jan. 2. Currently crude oil is at $73.03. Kluis says the last time crude oil fell below $72, the U.S. government purchased fuel for the Strategic Oil Reserve and he expects more buying this week.
Live cattle are down 33¢. Lean hogs are down 70¢. Feeder cattle are down $1.03.
The S&P 500 is down 39 points. The Dow is down 381 points.
Read also
Turkey purchases around 295 thsd tons of corn in tender
Malaysian palm oil continues to rise amid stronger prices in China
Indonesia’s compound feed production to reach 22.3 mln tons amid corn shortage
Maersk reports unauthorized access to IT system and data theft
Canadian pea exports rise by 26% since start of season
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon