Corn starting day up 11¢. Monday, May 15, 2023
Corn is up 11¢ this morning while soybeans are up 20¢.
CBOT wheat is up 24¢. KC wheat is up 31¢. Minneapolis wheat is up 24¢.
Bryant Sanderson, commodities broker with CHS Hedging, says wheat is continuing to be boosted by last week’s World Agricultural Supply and Demand Estimates (WASDE) report. He says USDA’s low production estimate for hard red winter wheat will continue to support prices, as will the lack of a deal on the Black Sea Grain Initiative.
Without an extension agreement, the Black Sea grain deal is expected to end this Thursday, May 18.
Live cattle are down 65¢. Lean hogs are up $1.53. Feeder cattle are up 38¢.
Crude oil is up 51¢.
S&P 500 futures are down 6 points. Dow futures are down 76 points.
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