Grains In the Green Ahead of WASDE. Tuesday, Feb. 11, 2025
A little past 8:30 a.m. CT, March corn was up 1½¢ at $4.93 per bushel.
March soybeans were up 2½¢ at $10.52 per bushel.
March wheat contracts were also higher. CBOT wheat was up 5¢ at $5.84½ per bushel. KC wheat was up 2¾¢ at $5.99½ per bushel. Minneapolis wheat was up 2¼¢ at $6.27½ per bushel.
“The grain and oilseed markets are focused on today’s monthly USDA WASDE [World Agricultural Supply and Demand Estimates] crop report,” said Arlan Suderman, chief commodities economist at StoneX. “Look for USDA to cut Russian wheat exports, while raising U.S. corn exports, and possibly also ethanol corn use. Modest adjustments may also be made to South American production estimates, but this report is expected to be rather tame overall. Yet, traders know that USDA has a tendency to sometimes throw a curve ball, so they’ll be wary of such until they see the numbers.”
April live cattle were down 45¢ at $197.68 per hundredweight (cwt) just past 8:30 a.m. CT. March feeder cattle were down 73¢ at $267.40 per cwt. April lean hogs were up 48¢ at $92.10 per cwt.
March crude oil was up $1 at $73.32 per barrel.
The U.S. Dollar Index March contract was down to 108.02.
March S&P 500 futures were down 21 points. March Dow futures were down 132 points.
Further development of the grain sector in the Black Sea and Danube region will be discussed at the 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv.
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