Corn down 3¢. Tuesday, August 8, 2023
December corn is down 3¢ while November soybeans are down 13¢.
CBOT wheat is down 5¢. KC wheat is down 2¢. Minneapolis wheat is down 2¢.
Naomi Blohm, senior market advisor with Total Farm Marketing, says a lack of bullish news out of the Black Sea is hurting corn and wheat prices, while favorable weather is pressuring corn and soybeans today. She says corn is also hurt by a lack of export demand.
October livestock are mixed. Live cattle are down 18¢. Lean hogs are up 23¢. Feeder cattle are down $1.10.
Crude oil is down $1.29.
S&P 500 futures are down 44 points. Dow futures are down 370 points.
Outside of the U.S., milling wheat is up on the MATIF trade. Corn is up on the Dalian exchange while No. 1 soybeans are down and No. 2 soybeans are up.
Read also
Morocco’s push for domestic wheat faces quality issues and harvest delays
Global soybean prices are putting pressure on the Ukrainian market
Fuel shortages threaten profitability of grain production in Russia
India may halt sugar exports for years due to El Niño and rising ethanol demand
Ukraine 2026/27 wheat: Strong export potential, but prices remain under pressure
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon