Corn down 17¢; grains in the red. Friday, June 23, 2023
Corn is currently down 17¢ and soybeans are down 11¢.
CBOT wheat is down 11¢. KC wheat is down 9¢. Minneapolis wheat is down 5¢.
“Rains are again in the six to 10-day forecast for the dry Midwest, with some of them now working their way into the five-day outlook,” says Arlan Suderman, chief commodities economist for StoneX. “We’ve been here before, and those rains disappointed. Will this time be different? Traders are reluctant to take a chance going into the weekend, so they’re taking more profits off the trading floor, and then they’ll reassess based on Sunday’s weather maps to start the week.”
Live cattle are down 73¢. Lean hogs are down 93¢. Feeder cattle are up $1.25.
Crude oil is down $1.20.
S&P 500 futures are down 33 points. Dow futures are down 182 points.
Milling wheat is down on the European MATIF trade. Corn and No. 1 soybeans are up on the Chinese Dalian trade while No. 2 soybeans are flat.
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