Corn down 4¢. Friday, July 21, 2023

December corn is currently down 4¢.

November soybeans are also down 4¢.

CBOT and KC wheat are down 15¢. Minneapolis wheat is down 4¢.

According to The Brock Report, “Grain and oilseed futures are lower amid profit-taking headed into the weekend after what has been a week of solid gains.”

Commodity Weather Group says there is a chance for some storms in the Midwest this weekend and those chance increase over the next two weeks.

Concerning the recent hot and dry weather trend, Arlan Suderman says “There’s still a lot of uncertainty about the staying power of this trend. Forecasters do not currently see that happening, but they note that they can’t rule it out either. The next four to six weeks are critical for the development of the U.S. corn and soybean crops. The corn balance sheet has plenty of wiggle room currently…The soybean balance sheet has very little if any wiggle room due to lost acreage and strengthening domestic demand.”

October live cattle are up 8¢. October lean hogs are up 28¢. October feeder cattle are up 20¢.

Crude oil is up 56¢.

S&P 500 futures are up 11 points. Dow futures are down 44 points.

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