Corn and soybeans close at two-week low. Monday, September 26, 2022

Corn ended the day down 11¢ to $6.66. Soybeans are down 13¢ to $14.12.

The last time corn saw prices this low was Sept. 8, and soybeans haven’t been this low since Sept. 12.

CBOT wheat closed down 23¢. KC wheat is down 21¢. Minneapolis wheat is down 18¢.

Livestock prices are also all down.

Soybeans’ rise was short-lived. Soybean futures are now down 9¢ to $14.17.

Corn futures are down 4¢.

Wheat is also down. CBOT wheat is down 12¢. KC wheat is down 16¢. Minneapolis wheat is down 13¢.

At this hour, live cattle are up 38¢. Feeder cattle are up 43¢. Lean hogs are down $1.50.

Crude oil is down $1.17. The U.S. dollar is up 1 point.

After all grains being down in the overnight trade, soybeans have started to climb at this morning’s open. Soybean futures are currently up 7¢ to $14.33.

Corn futures are flat at $6.77.

CBOT wheat is down a penny to $8.79. KC wheat is up 3¢ to $9.53. Minneapolis wheat is up a penny to $9.50.

Live cattle are up 58¢. Feeder cattle are up 60¢. Lean hogs are down 13¢.

The S&P 500 is down 5 points and the Dow is down 155 points.

Outside of the U.S., milling wheat on the MATIF trade out of Europe is down. On the Dalian trade, corn is down while soybeans are up.

Crude oil is up 71¢. The U.S. dollar is up 0.26 points.

The weather forecast for much of the corn belt is fairly mild for this week, which is good news for harvest but putting downward pressure on corn prices, Reuters reports.

According to analysis from U.S. Commodities, a grain and livestock investment and management firm based in West Des Moines, Iowa, the USDA Crop Progress Report that comes out today at 4 p.m. ET should reflect corn harvest roughly 15% complete and soybean harvest 8% to 10% complete. They also expect conditions to drop by one percent.

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