Corn down 10¢, grains mixed. Monday, April 24, 2023
July corn is down 10¢ while July soybeans are up a penny.
July wheat is mixed. CBOT wheat is down 3¢. KC wheat is up 3¢. Minneapolis wheat is up 7¢.
Naomi Blohm, senior market advisor with Total Farm Marketing, says May corn is trading at nearly a 50¢ premium to July corn. She says it may unwind this week into the first notice day for May grain futures, which is Friday, or July may rally to the May price.
USDA announced this morning China canceled a purchase of 327,000 metric tons of corn that was supposed to be delivered for the 2022/2023 marketing year.
Live cattle are down $1.05. Lean hogs are up 73¢. Feeder cattle are down $1.50.
Crude oil is up 35¢.
S&P 500 futures are up 3 points. Dow futures are up 12 points.
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