Grains Open Mixed. Friday, December 27, 2024
Grain markets opened mixed on Friday after a strong close Thursday.
The USDA’s weekly U.S. Export Sales report was released this morning, delayed one day because of the mid-week holiday. The report was friendly for wheat and corn, while soybean sales were slightly disappointing.
The net sales numbers from the report were:
- 612,400 metric tons for wheat
- 1,711,300 metric tons for corn
- 978,400 metric tons for soybeans.
As traders wrap up the week, they will be keeping an eye on key moving-average lines on the daily charts.
Livestock futures opened quietly mixed on Friday morning. Cash trade has been very light this week, which many traders expected with the holiday mid-week. Cash cattle are expected to trade at sometime today. Packers are starting out with bids at $190 per hundredweight (cwt), while feed lots are hoping to sell closer to $200 per cwt.
Outside markets are mixed this morning. The U.S. Dollar Index is steady. Crude oil is up 50¢ per barrel. S&P 500 futures are down 70 points. As we head into the end of the month and wrap up trading for 2024, will we see a new trend develop for the beginning of 2025?
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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