Corn starts day up a penny. Friday, February 3, 2023
March corn futures are up a penny while soybeans are down a penny.
CBOT wheat is down 4¢. KC wheat is down 5¢. Minneapolis wheat is down 7¢.
Fresh exports of 132,000 metric tons of soybeans to unknown destinations for 2023/2024 were announced this morning.
Bob Linneman with Kluis Commodity Advisors notes that exports were slow this week against expectations that China would be back in the game after last week’s holiday.
He says some money managers may exit current positions on the feeling that the bullish momentum is fading.
Live cattle are down 13¢. Lean hogs are down 35¢. Feeder cattle are down 10¢.
Crude oil is currently up 71¢.
S&P 500 futures are down 32 points. Dow futures are down 81 points.
On the European MATIF trade, milling wheat is flat. On the Chinese Dalian trade, corn an No. 1 soybeans are up.
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