Corn down slightly. Thursday, August 8, 2024
December corn has been on both sides of unchanged so far this morning and is currently down less than a penny.
November soybeans are down 10¼¢.
September wheat contract are in the red. CBOT wheat is down 3¾¢. KC wheat is down 5¾¢. Minneapolis wheat is down 3¢.
This morning USDA released the weekly Export Sales report. For the week of July 26 – Aug. 1, both corn and soybean export sales for the 2023/2024 marketing year exceeded expectations. Net corn sales were pegged at 485,400 metric tons (mt), 85,400 mt higher than expected. Net soybean sales were pegged at 325,400 mt, 25,400 mt higher than expected.
For the 2024/2025 marketing year, soybeans again exceeded expectations with net sales at 985,200 mt. The high end of the expected range was 900,000 mt. Net wheat sales were within the expected range at 274,000 mt. Net corn sales fell more than 200,000 mt below the expected range at 249,100 mt.
Livestock prices are mixed this morning. October live cattle are down 45¢. September feeder cattle are up 70¢. October lean hogs are down $1.30.
September crude oil is up 63¢.
The U.S. Dollar Index September contract is up to 103.18.
September S&P 500 and Dow futures are up 95 points and 531 points, respectively.
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