Corn down 2¢. Friday, January 5, 2024

March corn is down 2¢ this morning.

March soybeans are down 8¢.

CBOT wheat is up 4¾¢. KC wheat is up 5¼¢. Minneapolis wheat is up 4¾¢.

“Grain and oilseed futures were mixed overnight, with soybeans remaining under pressure and falling to fresh multi-month lows amid lackluster demand, favorable South American weather and technical momentum,” says The Brock Report.

This morning USDA released the weekly Export Sales report.

“Weekly export sales were poor pretty much across the board last week, and while this may be attributed to the timing of the holidays, sales were nonetheless well below expectations,” says The Brock Report. “For corn, USDA reported net export sales of 367,500 metric tons, compared to trade guesses of 500,000 to 1.2 mmt (million metric tons). Soybean export sales of 201,600 metric tons were shy of trade guesses of 500,000 to 1.3 mmt, and wheat sales of 131,600 metric tons were shy of trade guesses of 150,000 to 450,000. In all cases, sales were less than half of the prior week’s total.”

Live cattle are up 8¢. Feeder cattle are up 68¢. Lean hogs are up 53¢.

Crude oil is up $2.01.

S&P 500 futures are up 25 points. Dow futures are up 134 points.

Tags: wheat, futures, live cattle, feeder cattle, lean hogs, corn, soybeans