Grains in the green at the open. Thursday, January 26, 2023
Corn is currently up 6¢ while soybeans are up 8¢.
CBOT wheat is up 10¢. KC wheat is up 15¢. Minneapolis wheat is up 9¢.
USDA announced another round of soybean exports this morning, this time for 106,000 metric tons of soybeans to China for the 2023/2024 marketing year.
The USDA weekly export sales report is also out this morning. According to Bob Linneman with Kluis Commodity Advisors, the trade expected corn exports from last week to come in between 600,000 and 1.4 million metric tons. Soybean exports were expected to be between 600,000 and 1.2 million metric tons. Both crops fell within trade expectations.
Net corn sales for 2022/2023 were pegged at 910,400 metric tons. This was down 20% from the previous week but up 46% from the prior four-week average.
Net soybean sales for 2022/2023 were up from the previous week to 1,145,700 metric tons.
Live cattle are down 50¢. Lean hogs are down 58¢. Feeder cattle are down 63¢.
Crude oil is up $1.13.
S&P 500 futures are up 10 points. Dow futures are down 64 points.
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