Corn up 9¢ this morning. Thursday, March 7, 2024
May corn is currently up 9½¢.
May soybeans are up 15½¢.
CBOT wheat is up 3¾¢. KC wheat is up 15¾¢. Minneapolis wheat is up 14¼¢.
This morning USDA announced China is canceling the purchase of 130,000 metric tons of soft red winter wheat for delivery to China during the 2023/2024 marketing year. Yet, this doesn’t seem to have spooked the market since wheat is still in the green.
USDA also released the weekly Export Sales report. Corn, soybeans, and wheat net sales for 2023/2024 for the week ending Feb. 29 were all within expectations.
Live cattle are up 35¢. Feeder cattle are down 78¢. Lean hogs are up 23¢.
Crude oil is down 59¢.
S&P 500 futures are up 38 points. Dow futures are up 175 points.
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