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.
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