Corn up 6¢ this morning. Friday, January 6, 2023
March corn is up 6¢ and soybeans have shot up 20¢.
CBOT wheat is up 6¢. KC wheat is up 3¢. Minneapolis wheat is up 4¢.
Nick Tsiolis, founder of Farmer’s Keeper, says grains are up in response to a drier forecast for South America.
Live cattle are down 5¢. Lean hogs are down 58¢. Feeder cattle are down 25¢.
The U.S. Dollar Index is at 104.9. Bob Linneman with Kluis Commodity Advisors says if the dollar can close over the 50-day moving average, which is 106.07 currently, there should be momentum for a continued rally.
Linneman also says with the U.S. jobs report coming out this morning to expect a volatile day for outside markets.
The S&P 500 is currently up 8 points. The Dow is up 127 points.
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The world’s breadbaskets are facing weather-related and logistical challenges
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