Corn down 3¢. Thursday, September 21, 2023
December corn is currently down 3¾¢.
November soybeans are down 17¢.
CBOT and KC wheat are down 5½¢. Minneapolis wheat is down 3½¢.
“Corn and soybeans both found support yesterday but it didn’t last long as they traded to lower levels overnight,” says Jeremy McCann, account manager with Farmer’s Keeper. “As I mentioned last week, the tug of war continues, as does the sideways trading. Even if there is a significant change to the crop that is out there, it will be hard to see a rally like the one in June with harvest downward pressure and poor demand.”
This morning USDA announced the sale of 137,160 metric tons of corn to Mexico. A total of 121,920 metric tons is to be delivered during the 2023/2024 marketing year. The remaining 15,240 metric tons is for the 2024/2025 marketing year.
Livestock are also in the red this morning. Live cattle are down 60¢. Lean hogs are down $1.10. Feeder cattle are down 10¢.
Crude oil is up $1.22.
S&P 500 futures are down 31 points. Dow futures are down 166 points.
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