Grain Prices Quiet Ahead of Holidays. Tuesday, December 24, 2024

Grain prices are quiet this morning ahead of the midweek holiday break. March corn is steady, January soybeans are up 3¢, CBOT wheat is down 4¢, Kansas City wheat is down 6¢, and spring wheat is down 5¢. March corn is closing in on the key resistance at $4.51, while January soybeans are nearly a dime away from the 20-day moving average. Wheat prices are trying to hold ground above the new contract lows etched last week.

Grain futures stop trading today at 12:05 p.m. CT. Trading resumes at 8:30 a.m. CT on Thursday, Dec. 26.

Livestock futures are slightly lower this morning. January feeder cattle are down 40¢, December live cattle are down 20¢, and February lean hogs are down 35¢. Feeder cattle contracts have rebounded from the lows last week but are struggling to gain any momentum to break above the 20-day moving average. Live cattle traders are waiting to see where cash trades are for the week.

Lean hog prices failed to break above the 20-day moving average on Monday and are now trying to work back above the 50-day moving average. If prices continue to slide lower, the lows from last week would be the next level of support.

Livestock futures stop trading today at 12:15 p.m. CT. Trading resumes at 8:30 a.m. CT on Thursday, Dec. 26.

In the outside markets, the U.S. Dollar Index is up 0.06 at 107.91, crude oil futures are up 70¢ at $70.25, the S&P 500 futures are up 33 points at 6,069, and gold futures are down $4 at $2,625. Volume is light across nearly all markets, as trading desks are lightly populated ahead of the holiday.

Tags: corn, soybeans, wheat, futures, live cattle, feeder cattle, lean hogs