Corn and Soy in the Red. Monday, March 3, 2025
A quarter ahead of 9 a.m. CT, May corn was down 2½¢ at $4.67 per bushel.
May soybeans were down 6¾¢ at $10.19 per bushel.
May wheat contracts were higher. CBOT wheat was up 2¢ at $5.57¾ per bushel. KC wheat was up 1¾¢ at $5.74¾. Minneapolis wheat was up 2¢ at $5.99¾.
“Corn and soybean futures slipped a bit further in early trade amid continued worries about the impact U.S. tariffs set to take effect on Tuesday will have on agricultural exports, with losses limited by a weaker dollar,” said The Brock Report this morning about the overnight session. “Wheat futures managed modest gains on support from the weaker dollar, dry conditions in the U.S. hard red winter wheat belt, and dwindling Russian exports.”
Earlier this morning USDA announced Mexico is buying 114,000 metric tons of corn for the 2024/2025 marketing year.
April livestock were mixed a quarter ahead of 9 a.m. CT. Live cattle were up 23¢ at $192.88 per hundredweight (cwt). Feeder cattle were down 88¢ at $272.13 per cwt. Lean hogs were up 73¢ at $84.40 per cwt.
April crude oil was up 12¢ at $69.88 per barrel.
The U.S. Dollar Index March contract was down to 106.62 less than a quarter before 9 a.m. CT.
March S&P 500 futures were up 9 points. March Dow futures were up 129 points.
Further development of the grain sector in the Black Sea and Danube region will be discussed at the 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv.
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