Grain mixed in early trading. August 24, 2023
Grain prices are mixed after the opening bell this morning. Corn and wheat futures are negative while soybeans remain positive. December, corn futures are down 5¢, November soybean futures are up a 5¢, CBOT wheat is down 9¢, KC wheat is down 7¢, and spring wheat is down 3¢.
Livestock futures are mixed this morning. Feeder cattle are up 25¢, live cattle are down 35¢ and lean hogs are up 50¢. There is chatter about domestic beef demand declining now that summer is coming to an end.
U.S. dollar index is approaching the highs from Wednesday after briefly trading below the Wednesday low overnight. A convincing move over 104 could open the door for the bulls to make a run at 105. Traders are anxiously awaiting the Federal Reserve chairman comments Friday after the conclusion of the Jackson Hole summit.
Crude oil futures are down $1.25 this morning. Traders are concerned about recent global economic reports that would suggest we are not yet in the clear in the battle against inflation.
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