December corn slightly higher this morning. Friday, October 18, 2024
December corn is up less than a penny this morning.
November soybeans are down less than a penny.
December wheat contracts are in the red. CBOT wheat is down 10¢. KC wheat is down 5½¢. Minneapolis wheat is down 5¾¢.
This morning USDA announced another round of sales to Mexico and unknown destinations:
- Mexico is buying 21,000 metric tons of soybean oil for the 2024/2025 marketing year.
- Unknown destinations are buying 125,000 metric tons of corn for the 2024/2025 marketing year, and 292,800 metric tons of soybeans for the 2024/2025 marketing year.
USDA also released the weekly U.S. Export Sales report this morning for the week ending Oct. 10. Net corn export sales for 2024/2025 were pegged at 2.23 million metric tons. Bryant Sanderson, commodity broker with CHS Hedging, said expectations ranged from 1.2 to 2.2 million.
Net soybean export sales for the same marketing year were pegged at 1.7 million metric tons. Sanderson said the expected range was 1 to 2.2 million.
Net wheat export sales for 2024/2025 were reported at 504,100 metric tons, which USDA said was up 16% from the previous week and 57% from the prior four-week average.
December live cattle are up 25¢ this morning. January feeder cattle are up 88¢. December lean hogs are up 55¢.
December crude oil is down $1.04.
The U.S. Dollar Index December contract is down to 103.34.
December S&P 500 futures are up 2 points. December Dow futures are down 188 points.
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