Corn starts day down 3¢. Thursday, January 18, 2024
March corn is down 3¾¢.
March soybeans are down less than a penny.
CBOT wheat is down 6¢. KC wheat is down 1¼¢. Minneapolis wheat is up 2½¢.
“Corn and soybean futures were boosted slightly in lackluster overnight action by technically-driven short covering, but faded late in the early trading, with corn futures winding up lower and soybean contracts narrowly mixed,” says The Brock Report. “Ideas U.S. and world corn and soybean supplies are ample to meet demand kept pressure on futures. Wheat futures mostly posted further small losses under continued pressure from a lack of export demand for U.S. wheat amid Black Sea region wheat’s dominance of the world market.”
Live cattle are up 50¢. Feeder cattle are up $1.23. Lean hogs are down 28¢.
Crude oil is up 21¢.
S&P 500 futures are up 10 points. Dow futures are down 136 points.
Outside of the U.S., milling wheat is down on the MATIF trade. Corn is down on the Dalian trade while soybeans are up.
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