Grains mixed this morning. Wednesday, September 11, 2024

December corn is down 1¼¢ this morning.

November soybeans are up 2½¢.

December wheat contracts are higher. CBOT wheat is up 2¾¢. KC wheat is up 2¢. Minneapolis wheat is up 2¾¢.

Al Kluis, managing director of Kluis Commodity Advisors, says ahead of tomorrow’s World Agricultural Supply and Demand Estimates (WASDE) report, “The trade has built in some very bearish market expectations with the sell-off in the corn and soybeans so far this week.” He says with these built-in expectations, prices could go higher tomorrow even if the report is negative.

Ryan Kelbrants, commodity broker with CHS Hedging, says with Hurricane Francine hitting the Louisiana coast today, “major delays” are expected on the lower Mississippi.  Kluis says he is watching to see if the hurricane results in rain for southern Illinois and Indiana, where double-crop soybeans could use it.

October livestock contracts are mixed this morning. Live cattle are down 10¢. Feeder cattle are down 90¢. Lean hogs are up 18¢.

October crude oil is up 79¢.

The U.S. Dollar Index September contract is up to 101.69.

September S&P 500 futures are down 39 points points. September Dow futures are down 461 points.

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Tags: feeder cattle, lean hogs, corn, soybeans, wheat, futures, live cattle