Corn down 2¢ at open. Tuesday, February 7, 2023
This morning, corn is down 2¢ while soybeans are up just a quarter of a cent.
CBOT wheat is up 2¢. KC wheat is up 9¢. Minneapolis wheat is up 4¢.
Bob Linneman with Kluis Commodity Advisors says yesterday’s export sales to Mexico and Japan are “a good way to start the week,” but he says “traders are concerned that the weekly export inspections data will start to fade, since that is the seasonal trend.”
He notes traders are concerned there hasn’t been any sales to China in recent days.
Live cattle are down 43¢. Lean hogs are up 13¢. Feeder cattle are down 15¢.
Crude oil is up $1.12 this morning.
S&P 500 futures are down 9 points. Dow futures are down 131 points.
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The shortfall in grain storage capacity in Ukraine could reach 11 mln tons
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