Corn and soy in the red. Tuesday, August 22, 2023
December corn is currently down 1¼¢.
November soybeans are down 5¢.
CBOT wheat is up 4½¢. KC wheat is up 3½¢. Minneapolis wheat is up by half of a penny.
Arlan Suderman, chief commodities economist for StoneX says he was not surprised day one of the Pro Farmer crop tour found good crops in Ohio and South Dakota.
“I will be more interested in what they find as they get deeper into Nebraska today, and into Iowa and Illinois tomorrow,” he says. “The day one results still fit with our yield projections, but observations the next couple of days will tell us a great deal more.”
This morning USDA reported export sales of 224,000 metric tons of corn to Mexico. Half is to be delivered during the 2024/2025 marketing year and half is for the 2025/2026 marketing year.
October livestock are in the red this morning. Live cattle are down $1.00. Lean hogs are down 78¢. Feeder cattle are down $1.55.
Crude oil is up 9¢.
S&P 500 futures are up 7 points. Dow futures are dow 40 points.
Outside of the U.S., milling wheat is flat on the MATIF exchange. Corn and No. 2 soybeans are up on the Dalian exchange while No. 1 soybeans are down.
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