Grains Higher This Morning. Wednesday, Jan. 22, 2025
Shortly after the 8:30 a.m. CT open, March corn was up 1¾¢.
March soybeans were up 2¢.
March wheat contracts were also higher. CBOT wheat was up 7½¢. KC wheat was up 9½¢. Minneapolis wheat was up 5¾¢.
Naomi Blohm, senior market advisor at Total Farm Marketing, said funds are buying soybeans on the “lack of immediate trade war” under the new presidential administration and warm weather in Argentina. She said they are also buying wheat “because it is cheap and now maybe the market is starting to trade the reality of tight global wheat ending stocks.”
Earlier this morning, USDA announced unknown destinations are buying 136,000 metric tons of corn for the 2024/2025 marketing year.
April live cattle were up 43¢ shortly past 8:30 a.m. CT. March feeder cattle were up 75¢. April lean hogs were up 18¢.
March crude oil was down 11¢.
The U.S. Dollar Index March contract was up to 107.95.
March S&P 500 futures were up 29 points. March Dow futures were up 88 points.
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