Grains open quietly mixed. Friday, January 20, 2023

This morning, corn is down a penny. Soybeans are up 2¢.

CBOT wheat is down 2¢. KC wheat is down a penny. Minneapolis wheat is down a penny.

Live cattle are up 20¢. Lean hogs are up 50¢. Feeder cattle are up 38¢.

USDA released the weekly export sales report this morning. Bob Linneman with Kluis Commodity Advisors says the expectation for corn exports was between 250,000 and 800,000 metric tons. The report pegged corn exports for last week at 1.13 metric tons. The expectation for soybean exports was between 600,000 and 1.2 million metric tons. USDA pegged soybean exports at 986,200 metric tons.

Commodity Weather Group says rain is in store for Argentina this weekend. Southwest Argentina was hit by a thunderstorm this morning and it is moving across the south and will reach parts of NW Argentina in a couple of days.

Commodity Weather Group says Argentina is in store for half and inch to two inches of rain in the next six to 10 days.

China’s Lunar New Year begins this Sunday. Naomi Blohm with Total Farm Marketing says the country will likely do little grain buying for the next two weeks.

Crude oil is down 6¢.

The S&P 500 is up 13 points. The Dow is down 58 points.

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