Corn down 3¢. Monday, October 23, 2023
December corn is currently down 3¼¢.
November soybeans are down 12½¢.
CBOT wheat is flat. KC wheat is up 2¢. Minneapolis wheat is up 8¢.
“USDA will show harvest progress for corn at over 60% complete and soybeans over 70% in the report this afternoon,” says Al Kluis, managing director of Kluis Commodity Advisors, referring to today’s Crop Progress report. “Most of the focus now will be on weather and crop development in South America.
“I will be watching the global equity markets get hit. There is more uncertainty, since the war [in Israel] appears it could reach into Lebanon and Iran. This has the potential of getting the U.S. involved.”
Live cattle are down $2.98. Lean hogs are up 65¢. Feeder cattle are down $1.93.
Crude oil is down 93¢.
S&P 500 futures are down 9 points. Dow futures are down 76 points.
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