Grains start day in the green. Thursday, October 26, 2023
December corn is currently up 4¢.
November soybeans are up 7¼¢.
CBOT wheat is up 5½¢. KC wheat is up 5¢. Minneapolis wheat is up 6¼¢.
USDA announced a sale this morning of 110,000 metric tons of soybeans to China for the 2023/2024 marketing year.
USDA also released the weekly Export Sales report. Soybeans and wheat export sales were within the expected range for sales for the 2023/2024 marketing year but corn exceeded expectations.
- Corn: Net sales of 1,351,100 metric tons, up 53% from the previous week and 22% from the prior four-week average.
- Soybeans: Net sales of 1,378,200 metric tons, a marketing-year high.
- Wheat: Net sales of 363,700 metric tons, down 43% from the previous week and 31% from the prior four-week average.
Naomi Blohm, senior market advisor for Total Farm Marketing, characterized today’s report as “phenomenal.”
Live cattle are up 35¢ this morning. Lean hogs are up 68¢. Feeder cattle are down 30¢.
Crud oil is down $2.27.
S&P 500 futures are down 25 points. Dow futures are down 15 points.
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