Grains start day in the red. Tuesday, February 28, 2023

May corn is down 3¢ this morning, while May soybeans are down 24¢.

CBOT wheat is down 5¢. KC wheat is down 4¢. Minneapolis wheat is down 3¢.

Al Kluis with Kluis Commodity Advisors says he doesn’t expect the corn market to bottom out until the wheat market turns higher.

He adds the next long-term chart support for both corn and wheat is down another 20 cents per bushel.

Live cattle are down 15¢. Lean hogs are up 28¢. Feeder cattle are up 5¢.

Crude oil is up $1.40.

June U.S. Dollar Index futures are at 104.25.

S&P 500 futures are down 4 points.

Dow futures are down 131 points.

Outside of the U.S., milling wheat is down on the MATIF trade. Corn and soybeans are down on the Dalian trade.

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