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.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
Join strategic discussions and networking with industry leaders to gain актуальна insights, discover new business opportunities, and build partnerships with key market players.
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