Grains In the Red. Monday, Feb. 24, 2025
Shortly after 9 a.m., March and May contracts for corn, soybeans, and wheat were in the red.
March corn was down 4¢ at $4.87¼ per bushel. May corn was down 3¼¢ at $5.01¾.
March soybeans were also down 3¼¢ at $10.36¼. May soybeans were down 2½¢ at $10.54¾ per bushel.
March and May contracts had bigger losses. March CBOT wheat was down 8½¢. KC wheat was down 9¾¢. Minneapolis wheat was also down 9¾¢. May CBOT wheat was down 8¼¢. KC wheat was down 9¼¢. Minneapolis wheat was down 9¾¢.
“Corn futures rallied [to] just over $5 per bushel last week….” said Al Kluis. managing director of Kluis Commodity Advisors. “Long-term, I think we can rally back; short-term, it is easy to see corn set back [from] late February-early March.
“Can March corn hold support at $4.90 this week? March soybeans need to hold above $10.20. With March corn trading below $4.90, watch for a test of $4.70….”
April livestock were mixed shortly past 9 a.m. Live cattle were up 8¢ at $194.03 per hundredweight (cwt). Feeder cattle were up 78¢ at $268.33 per cwt. Lean hogs were down 10¢ at $87.58 per cwt.
April crude oil was up 11¢ at $70.51 per barrel.
The U.S. Dollar Index March contract was up to 106.56.
March S&P 500 futures were down 35 points. March Dow futures were down 53 points.
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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