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.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
Join strategic discussions and networking with industry leaders to gain актуальна insights, discover new business opportunities, and build partnerships with key market players.
Read also
Black Sea & Danube: Crop and Export Forecast
Ukraine to expand sunflower and rapeseed area while soybeans decline — FAS USDA
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Indonesia deploys African weevils to boost palm oil output
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