Corn and Soy in the Red. Tuesday, April 29, 2025

A little after 8:30 a.m. CT, July corn was down a penny at $4.82¼ per bushel.

July soybeans were down 7¢ at $10.55½ per bushel.

July wheat contracts were higher. CBOT wheat was up 4¼¢ at $5.35¼ per bushel. KC wheat was up a penny at $5.40¾. Minneapolis wheat was up 3¢ at $5.99¾.

“Corn and soybean futures are in the red at the end of early trading, under pressure from favorable U.S. planting progress, further weakness in crude oil futures, and a stronger dollar,” said The Brock Report this morning, speaking of the overnight session. “Wheat futures, however, are slightly higher on support from speculative short covering despite a larger-than-expected rise in the weekly U.S. winter wheat crop rating [in USDA’s Crop Progress report released yesterday].”

This morning, USDA announced new export sales:

• Spain is buying 120,000 metric tons of corn for the 2024/2025 marketing year, and
• Unknown destinations are buying 110,000 metric tons of soybeans for the 2024/2025 marketing year.

June live cattle were up 48¢ at $210.08 per hundredweight (cwt) shortly past 8:30 a.m. CT. August feeder cattle were up 80¢ at $295.75 per cwt. June lean hogs were down 25¢ at $100.75 per cwt.

June crude oil was down 95¢ at $61.10 per barrel.

The U.S. Dollar Index June contract was up to 98.86.

June S&P 500 futures were down 19 points. June Dow futures were up 20 points.

Tags: corn, soybeans, wheat, futures, live cattle, feeder cattle, lean hogs