Corn starts day up 3¢. Wednesday, December 7, 2022
This morning, corn is up 3¢ and soybeans are up 11¢.
CBOT wheat is up 17¢. KC wheat is up 12¢. Minneapolis wheat is up 4¢.
Al Kluis with Kluis Commodity Advisors says soybean traders are nervous about dryness in Argentina. According to Commodity Weather Group, less than half of corn and soybean acres in Argentina are likely to see rain by Monday.
The USDA World Agricultural Supply and Demand Estimates (WASDE) report comes out Friday. Kluis says it is likely to create “extreme volatility” in the corn market.
Live cattle are down 20¢. Lean hogs are up 53¢. Feeder cattle are down 40¢.
Crude oil is up 63¢ this morning.
Naomi Blohm with Total Farm Marketing says China’s increased oil imports this November and China’s easing of COVID-19 restrictions have given oil a price boost.
The U.S. Dollar Index is currently at 104.7.
Wheat is up on the MATIF trade. On the Dalian trade, corn is down and No. 1 soybeans are up.
The S&P 500 is up 6 points. The Dow is up 31 points.
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