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?
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