Corn up 4¢ this morning. Friday, October 27, 2023

December corn is currently up 4¢.

November soybeans are up 17½¢.

CBOT wheat is down less than a penny. KC wheat is down 6¢. Minneapolis wheat is also down less than a penny.

The Brock Report explained during the early morning trade that wheat was under pressure from the Black Sea “humanitarian” export corridor reopening. The Brock Report also noted the the Personal Consumption Expenditures Index released this morning was up month-over-month.

“The monthly Personal Consumption Expenditures Index, which is watched closely by the [U.S. Federal Reserve] as a gauge of inflation, indicates the [Federal Reserve] may be cautious in lowering interest rates as the summer slowdown in inflation has stopped,” the newsletter said. “The index was up 0.4% in September from the prior month, which was steady with the August increase. But the “core” index, which excludes volatile food and energy prices, was up 0.3%, versus a gain of just 0.1% the prior month.”

Live cattle are up 3¢ this morning. Lean hogs are up 35¢. Feeder cattle are down $1.03.

Crude oil is up 50¢.

S&P 500 futures are up 5 points. Dow futures are down 95 points.

Tags: lean hogs, corn, soybeans, wheat, futures, live cattle, feeder cattle