Corn Up Nearly 4¢. Tuesday, Jan. 28, 2025
Shortly after the market opened at 8:30 a.m. CT, March corn was up 3¾¢.
March soybeans were up 4¢.
March wheat contracts were also higher. CBOT wheat was up 4¾¢. KC wheat was up 2¾¢. Minneapolis wheat was up 4¼¢.
“The stock market was hit with heavy selling pressure yesterday,” said Bob Linneman, commodities broker at Kluis Commodity Advisors, during the overnight session. “If that continues, will we see more money flow to the grain market? The funds are already holding a rather large net-long position in the grains for this time of year.”
This morning, USDA announced South Korea is buying 132,000 metric tons of corn for the 2024/2025 marketing year.
April live cattle were up 53¢ shortly after the market opened. March feeder cattle were up 73¢. April lean hogs were up 53¢.
March crude oil was up 78¢.
The U.S. Dollar Index March contract was up to 107.71.
March S&P 500 futures were up 7 points. March Dow futures were down 24 points.
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